NL Industries (NYSE:NL) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

NL Industries, Inc. (NYSE:NL) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.04 and traded as low as $5.63. NL Industries shares last traded at $5.7280, with a volume of 71,588 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have commented on NL. Wall Street Zen raised NL Industries from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings raised NL Industries from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 8th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold”.

NL Industries Price Performance

The company has a 50 day moving average price of $6.25 and a 200 day moving average price of $6.04. The firm has a market cap of $279.87 million, a PE ratio of -8.30 and a beta of 0.19.

NL Industries (NYSE:NL) last posted its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.14). The firm had revenue of $40.57 million during the quarter, compared to analysts’ expectations of $40.57 million. NL Industries had a negative net margin of 21.56% and a negative return on equity of 8.74%.

NL Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Thursday, June 4th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $0.40 annualized dividend and a dividend yield of 7.0%. NL Industries’s payout ratio is presently -57.97%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Strs Ohio purchased a new position in shares of NL Industries during the 1st quarter worth approximately $35,000. CANADA LIFE ASSURANCE Co boosted its stake in shares of NL Industries by 80.4% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 5,985 shares of the basic materials company’s stock valued at $33,000 after buying an additional 2,667 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of NL Industries by 34.3% in the fourth quarter. Wells Fargo & Company MN now owns 9,445 shares of the basic materials company’s stock valued at $52,000 after buying an additional 2,413 shares in the last quarter. NewEdge Advisors LLC acquired a new position in NL Industries during the fourth quarter worth $57,000. Finally, Money Concepts Capital Corp acquired a new position in NL Industries during the first quarter worth $92,000. 10.67% of the stock is owned by hedge funds and other institutional investors.

NL Industries Company Profile

NL Industries, Inc is a U.S.-based industrial minerals company whose primary focus is the mining, upgrading and marketing of titanium feedstocks. The company’s products include synthetic rutile and chloride slag, which serve as key raw materials for producers of titanium dioxide pigment. These pigments are widely used as whitening and opacifying agents in coatings, plastics, paper and specialty applications.

NL Industries serves a global customer base, supplying feedstocks under long-term agreements and through spot transactions.