NL Industries, Inc. (NYSE:NL) Sees Significant Drop in Short Interest

NL Industries, Inc. (NYSE:NL) saw a large drop in short interest in January. As of January 30th, there was short interest totaling 82,043 shares, a drop of 29.9% from the January 15th total of 117,104 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average trading volume of 58,778 shares, the short-interest ratio is presently 1.4 days. Based on an average trading volume of 58,778 shares, the short-interest ratio is presently 1.4 days. Currently, 0.2% of the company’s stock are sold short.

NL Industries Stock Performance

NYSE:NL traded up $0.08 during mid-day trading on Friday, hitting $6.30. The stock had a trading volume of 32,401 shares, compared to its average volume of 58,923. NL Industries has a twelve month low of $5.04 and a twelve month high of $9.27. The stock has a market cap of $307.87 million, a price-to-earnings ratio of 31.51 and a beta of 0.27. The company’s 50 day simple moving average is $5.91 and its 200 day simple moving average is $5.97.

Institutional Investors Weigh In On NL Industries

Several hedge funds have recently added to or reduced their stakes in NL. CANADA LIFE ASSURANCE Co boosted its position in NL Industries by 80.4% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 5,985 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 2,667 shares during the period. Strs Ohio bought a new stake in shares of NL Industries during the 1st quarter worth about $35,000. Wells Fargo & Company MN boosted its holdings in shares of NL Industries by 34.3% during the 4th quarter. Wells Fargo & Company MN now owns 9,445 shares of the basic materials company’s stock worth $52,000 after buying an additional 2,413 shares during the period. Squarepoint Ops LLC acquired a new position in NL Industries in the 3rd quarter valued at about $126,000. Finally, Rhumbline Advisers raised its holdings in NL Industries by 73.6% in the 3rd quarter. Rhumbline Advisers now owns 23,547 shares of the basic materials company’s stock valued at $145,000 after acquiring an additional 9,984 shares during the period. Institutional investors and hedge funds own 10.67% of the company’s stock.

Analyst Upgrades and Downgrades

NL has been the subject of several recent research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of NL Industries in a research report on Monday, December 29th. Wall Street Zen upgraded NL Industries to a “sell” rating in a research note on Saturday, February 7th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, NL Industries has an average rating of “Hold”.

About NL Industries

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.