NL Industries, Inc. (NYSE:NL) Sees Significant Decline in Short Interest

NL Industries, Inc. (NYSE:NL) was the target of a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 89,200 shares, a decline of 15.5% from the August 31st total of 105,600 shares. Currently, 1.1% of the shares of the company are sold short. Based on an average trading volume of 38,800 shares, the days-to-cover ratio is currently 2.3 days.

NL Industries Stock Performance

Shares of NL traded up $0.08 during midday trading on Friday, hitting $7.38. 27,040 shares of the stock traded hands, compared to its average volume of 34,687. The business’s 50 day moving average price is $6.51 and its two-hundred day moving average price is $6.93. The firm has a market capitalization of $360.39 million, a PE ratio of 30.75 and a beta of 0.51. NL Industries has a 1-year low of $4.46 and a 1-year high of $8.93.

NL Industries (NYSE:NL) last issued its quarterly earnings data on Wednesday, August 7th. The basic materials company reported $0.16 earnings per share (EPS) for the quarter. NL Industries had a return on equity of 5.68% and a net margin of 14.10%. The business had revenue of $35.90 million during the quarter.

NL Industries Announces Dividend

The firm also recently declared a None dividend, which was paid on Tuesday, September 24th. Shareholders of record on Friday, September 6th were given a dividend of $0.43 per share. The ex-dividend date was Friday, September 6th. This represents a yield of 9.4%. NL Industries’s dividend payout ratio (DPR) is presently 133.33%.

Analyst Upgrades and Downgrades

Separately, Barclays increased their target price on shares of NL Industries from $5.00 to $6.00 and gave the stock an “underweight” rating in a report on Wednesday.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets boosted its holdings in shares of NL Industries by 74.5% in the first quarter. BNP Paribas Financial Markets now owns 3,929 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 1,677 shares in the last quarter. Heron Bay Capital Management acquired a new stake in shares of NL Industries in the first quarter valued at $107,000. Ritholtz Wealth Management bought a new position in NL Industries during the second quarter valued at about $112,000. O Shaughnessy Asset Management LLC acquired a new position in NL Industries during the first quarter worth about $139,000. Finally, Raymond James Trust N.A. bought a new stake in NL Industries in the second quarter worth about $130,000. Institutional investors own 10.67% of the company’s stock.

About NL Industries

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.