NL Industries (NYSE:NL) Releases Quarterly Earnings Results, Misses Expectations By $0.81 EPS

NL Industries (NYSE:NL) released its quarterly earnings results on Monday. The basic materials company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.81), FiscalAI reports. The company had revenue of $37.70 million during the quarter. NL Industries had a net margin of 6.10% and a return on equity of 2.36%.

NL Industries Stock Performance

NYSE:NL traded down $0.05 during trading hours on Monday, hitting $6.01. 48,847 shares of the company’s stock traded hands, compared to its average volume of 65,213. The firm has a market cap of $293.55 million, a P/E ratio of 30.04 and a beta of 0.24. NL Industries has a twelve month low of $5.04 and a twelve month high of $9.27. The stock’s fifty day moving average price is $6.07 and its two-hundred day moving average price is $5.97.

NL Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Tuesday, March 10th will be issued a dividend of $0.10 per share. This is a positive change from NL Industries’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date is Tuesday, March 10th. NL Industries’s dividend payout ratio is presently 180.00%.

Hedge Funds Weigh In On NL Industries

Large investors have recently made changes to their positions in the business. NewEdge Advisors LLC acquired a new stake in shares of NL Industries during the fourth quarter worth approximately $57,000. Empowered Funds LLC increased its stake in NL Industries by 11.0% in the 4th quarter. Empowered Funds LLC now owns 232,131 shares of the basic materials company’s stock valued at $1,270,000 after buying an additional 23,029 shares during the period. Bridgeway Capital Management LLC lifted its position in NL Industries by 8.3% in the 4th quarter. Bridgeway Capital Management LLC now owns 299,093 shares of the basic materials company’s stock worth $1,636,000 after buying an additional 23,029 shares in the last quarter. Squarepoint Ops LLC lifted its position in NL Industries by 27.3% in the 4th quarter. Squarepoint Ops LLC now owns 25,980 shares of the basic materials company’s stock worth $142,000 after buying an additional 5,567 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its stake in shares of NL Industries by 80.4% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 5,985 shares of the basic materials company’s stock valued at $33,000 after buying an additional 2,667 shares during the period. Institutional investors and hedge funds own 10.67% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on NL shares. Wall Street Zen upgraded NL Industries to a “sell” rating in a report on Saturday, February 7th. Weiss Ratings reissued a “hold (c-)” rating on shares of NL Industries in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, NL Industries 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.