NL Industries (NYSE:NL) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of NL Industries (NYSE:NL) from a sell rating to a hold rating in a report published on Saturday morning.

Separately, Weiss Ratings cut shares of NL Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, March 10th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, NL Industries currently has a consensus rating of “Hold”.

NL Industries Stock Down 0.3%

Shares of NL opened at $5.99 on Friday. The stock has a market cap of $292.69 million, a price-to-earnings ratio of -8.68 and a beta of 0.19. NL Industries has a 12 month low of $5.04 and a 12 month high of $8.48. The company has a 50-day moving average price of $5.89 and a two-hundred day moving average price of $5.86.

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

NL Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Tuesday, March 10th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.7%. This is an increase from NL Industries’s previous quarterly dividend of $0.09. The ex-dividend date was Tuesday, March 10th. NL Industries’s dividend payout ratio is presently -57.97%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Strs Ohio bought a new position in shares of NL Industries in the first quarter valued at approximately $35,000. CANADA LIFE ASSURANCE Co raised 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 acquiring an additional 2,667 shares during the last quarter. Wells Fargo & Company MN raised 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 acquiring an additional 2,413 shares during the last quarter. NewEdge Advisors LLC bought a new position in shares of NL Industries in the fourth quarter valued at approximately $57,000. Finally, Money Concepts Capital Corp bought a new position in shares of NL Industries in the first quarter valued at approximately $92,000. Institutional investors own 10.67% of the company’s stock.

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.