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

NL Industries, Inc. (NYSE:NL)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.90 and traded as low as $5.63. NL Industries shares last traded at $5.7910, with a volume of 46,902 shares.

Analysts Set New Price Targets

NL has been the topic of several recent research reports. Weiss Ratings lowered shares of NL Industries from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, March 10th. Wall Street Zen raised NL Industries to a “sell” rating in a report on Saturday, February 7th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, NL Industries has a consensus rating of “Sell”.

NL Industries Stock Performance

The firm has a market cap of $287.30 million, a price-to-earnings ratio of -7.64 and a beta of 0.24. The business’s 50 day moving average price is $6.08 and its 200 day moving average price is $5.90.

NL Industries (NYSE:NL) last posted its earnings results on Monday, March 9th. The basic materials company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.81). NL Industries had a negative net margin of 23.88% and a negative return on equity of 9.43%. The firm had revenue of $37.70 million during the quarter.

NL Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Tuesday, March 10th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.8%. This is an increase from NL Industries’s previous quarterly dividend of $0.09. The ex-dividend date is Tuesday, March 10th. NL Industries’s payout ratio is currently -51.95%.

Institutional Investors Weigh In On NL Industries

A number of institutional investors have recently modified their holdings of NL. Bridgeway Capital Management LLC increased its stake in shares of NL Industries by 6.1% in the 2nd quarter. Bridgeway Capital Management LLC now owns 251,932 shares of the basic materials company’s stock valued at $1,612,000 after purchasing an additional 14,438 shares in the last quarter. Empowered Funds LLC boosted its position in NL Industries by 11.0% during the fourth quarter. Empowered Funds LLC now owns 232,131 shares of the basic materials company’s stock worth $1,270,000 after purchasing an additional 23,029 shares in the last quarter. Geode Capital Management LLC grew its holdings in NL Industries by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 209,872 shares of the basic materials company’s stock valued at $1,148,000 after purchasing an additional 7,222 shares during the period. Goldman Sachs Group Inc. grew its holdings in NL Industries by 15.5% in the first quarter. Goldman Sachs Group Inc. now owns 27,285 shares of the basic materials company’s stock valued at $216,000 after purchasing an additional 3,667 shares during the period. Finally, Millennium Management LLC increased its position in shares of NL Industries by 179.0% in the third quarter. Millennium Management LLC now owns 33,077 shares of the basic materials company’s stock valued at $203,000 after buying an additional 21,223 shares in the last quarter. 10.67% of the stock is currently owned by institutional investors and hedge funds.

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.