NL Industries (NYSE:NL) Cut to Buy at StockNews.com

StockNews.com lowered shares of NL Industries (NYSE:NL) from a strong-buy rating to a buy rating in a research report sent to investors on Monday.

NL Industries Price Performance

Shares of NL opened at $7.32 on Monday. NL Industries has a one year low of $5.20 and a one year high of $9.42. The company has a 50-day simple moving average of $7.37 and a two-hundred day simple moving average of $7.52. The firm has a market capitalization of $357.32 million, a PE ratio of 6.10 and a beta of 0.56.

NL Industries (NYSE:NL) last issued its quarterly earnings data on Thursday, March 6th. The basic materials company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.21 by $0.13. NL Industries had a net margin of 38.69% and a return on equity of 14.74%. The business had revenue of $38.40 million during the quarter.

NL Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 11th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 4.92%. This is a positive change from NL Industries’s previous quarterly dividend of $0.08. The ex-dividend date is Tuesday, March 11th. NL Industries’s dividend payout ratio (DPR) is presently 26.09%.

Insider Transactions at NL Industries

In other NL Industries news, Director Kevin B. Kramer acquired 6,500 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average cost of $6.59 per share, with a total value of $42,835.00. Following the transaction, the director now owns 9,350 shares of the company’s stock, valued at $61,616.50. The trade was a 228.07 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On NL Industries

Hedge funds have recently added to or reduced their stakes in the stock. Gladius Capital Management LP purchased a new stake in NL Industries during the 3rd quarter valued at $39,000. Lazard Asset Management LLC increased its stake in shares of NL Industries by 42.9% in the 4th quarter. Lazard Asset Management LLC now owns 9,556 shares of the basic materials company’s stock worth $74,000 after purchasing an additional 2,871 shares in the last quarter. Barclays PLC increased its stake in shares of NL Industries by 311.4% in the 3rd quarter. Barclays PLC now owns 11,934 shares of the basic materials company’s stock worth $89,000 after purchasing an additional 9,033 shares in the last quarter. Rhumbline Advisers increased its stake in shares of NL Industries by 17.6% in the 4th quarter. Rhumbline Advisers now owns 14,816 shares of the basic materials company’s stock worth $115,000 after purchasing an additional 2,217 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in shares of NL Industries in the 4th quarter worth $159,000. 10.67% of the stock is currently owned by hedge funds and other institutional investors.

NL Industries Company Profile

NL Industries, Inc, through its subsidiary, CompX International Inc, operates in the component products industry in Europe, North America, the Asia Pacific, and internationally. The company manufactures and sells mechanical and electronic cabinet locks and other locking mechanisms, including disc tumbler locks; pin tumbler locking mechanisms under KeSet, System 64, TuBar, and Turbine brands; and electronic locks under CompX eLock and StealthLock brands for use in various applications, such as mailboxes, ignition systems, file cabinets, desk drawers, tool storage cabinets, high security medical cabinetry, integrated inventory and access control secured narcotics boxes, electronic circuit panels, storage compartments, gas station security, vending and cash containment machines.