StockNews.com Begins Coverage on NL Industries (NYSE:NL)

StockNews.com assumed coverage on shares of NL Industries (NYSE:NL) in a research note published on Monday. The brokerage issued a buy rating on the basic materials company’s stock.

NL Industries Price Performance

NL Industries stock opened at $7.26 on Monday. The stock’s 50 day moving average is $5.66 and its 200 day moving average is $5.25. The firm has a market cap of $354.51 million, a P/E ratio of -181.45 and a beta of 0.63. NL Industries has a one year low of $4.46 and a one year high of $7.34.

NL Industries (NYSE:NL) last issued its earnings results on Wednesday, March 6th. The basic materials company reported $0.16 earnings per share for the quarter. The business had revenue of $43.20 million during the quarter. NL Industries had a negative return on equity of 0.59% and a negative net margin of 1.43%.

NL Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Monday, March 11th were issued a dividend of $0.08 per share. This is an increase from NL Industries’s previous quarterly dividend of $0.07. The ex-dividend date was Friday, March 8th. This represents a $0.32 annualized dividend and a dividend yield of 4.41%. NL Industries’s payout ratio is currently -799.80%.

Institutional Investors Weigh In On NL Industries

Several hedge funds and other institutional investors have recently modified their holdings of NL. Raymond James & Associates grew its holdings in NL Industries by 1.0% during the first quarter. Raymond James & Associates now owns 273,170 shares of the basic materials company’s stock worth $1,964,000 after buying an additional 2,572 shares in the last quarter. Rhumbline Advisers grew its holdings in NL Industries by 52.2% during the second quarter. Rhumbline Advisers now owns 16,713 shares of the basic materials company’s stock worth $165,000 after buying an additional 5,732 shares in the last quarter. Renaissance Technologies LLC grew its holdings in NL Industries by 1.4% during the second quarter. Renaissance Technologies LLC now owns 163,614 shares of the basic materials company’s stock worth $1,615,000 after buying an additional 2,200 shares in the last quarter. State Street Corp grew its holdings in NL Industries by 2.9% during the second quarter. State Street Corp now owns 146,150 shares of the basic materials company’s stock worth $1,443,000 after buying an additional 4,178 shares in the last quarter. Finally, UBS Group AG grew its holdings in NL Industries by 128.9% during the third quarter. UBS Group AG now owns 5,157 shares of the basic materials company’s stock worth $40,000 after buying an additional 2,904 shares in the last quarter. Institutional investors own 10.67% of the company’s stock.

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.