NL Industries (NYSE:NL) Announces Quarterly Earnings Results

NL Industries (NYSE:NL) posted its earnings results on Wednesday. The basic materials company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.03), FiscalAI reports. NL Industries had a negative return on equity of 6.67% and a negative net margin of 15.75%.The firm had revenue of $43.61 million during the quarter, compared to analysts’ expectations of $40.92 million.

NL Industries Stock Performance

NYSE:NL traded up $0.01 during trading hours on Friday, reaching $6.31. The company’s stock had a trading volume of 33,571 shares, compared to its average volume of 56,858. The firm has a market capitalization of $308.13 million, a price-to-earnings ratio of -12.10 and a beta of 0.22. The firm has a 50-day simple moving average of $5.97 and a 200-day simple moving average of $6.09. NL Industries has a 1 year low of $5.04 and a 1 year high of $8.60.

NL Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Thursday, September 3rd will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date is Thursday, September 3rd. NL Industries’s dividend payout ratio (DPR) is presently -76.92%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NL. Empowered Funds LLC increased its holdings in shares of NL Industries by 11.0% in the fourth quarter. Empowered Funds LLC now owns 232,131 shares of the basic materials company’s stock worth $1,270,000 after buying an additional 23,029 shares during the period. Geode Capital Management LLC boosted its holdings in NL Industries by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 209,872 shares of the basic materials company’s stock valued at $1,148,000 after acquiring an additional 7,222 shares during the period. Millennium Management LLC boosted its holdings in NL Industries by 179.0% during the 3rd quarter. Millennium Management LLC now owns 33,077 shares of the basic materials company’s stock valued at $203,000 after acquiring an additional 21,223 shares during the period. Rhumbline Advisers grew its position in NL Industries by 73.6% during the 3rd quarter. Rhumbline Advisers now owns 23,547 shares of the basic materials company’s stock worth $145,000 after acquiring an additional 9,984 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in NL Industries during the 2nd quarter worth approximately $158,000. 10.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NL shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of NL Industries in a report on Wednesday. Wall Street Zen raised NL Industries from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, NL Industries presently has an average rating of “Hold”.

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.