NL Industries (NYSE:NL) Stock Crosses Above 50-Day Moving Average – Here’s What Happened

NL Industries, Inc. (NYSE:NL) passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $7.98 and traded as high as $8.35. NL Industries shares last traded at $7.98, with a volume of 68,531 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Barclays lifted their price target on shares of NL Industries from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th.

NL Industries Trading Down 0.7 %

The company has a market cap of $389.81 million, a price-to-earnings ratio of 6.65 and a beta of 0.52. The stock has a 50 day moving average price of $7.98 and a two-hundred day moving average price of $7.07.

NL Industries Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Friday, November 29th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date was Friday, November 29th. NL Industries’s dividend payout ratio (DPR) is currently 26.67%.

Institutional Trading of NL Industries

A number of hedge funds have recently modified their holdings of NL. Raymond James Trust N.A. bought a new stake in shares of NL Industries in the 2nd quarter valued at $130,000. Ritholtz Wealth Management bought a new stake in shares of NL Industries in the second quarter worth about $112,000. Acadian Asset Management LLC raised its position in shares of NL Industries by 59.9% during the second quarter. Acadian Asset Management LLC now owns 59,541 shares of the basic materials company’s stock worth $356,000 after purchasing an additional 22,293 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of NL Industries by 1.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,964,169 shares of the basic materials company’s stock valued at $11,844,000 after purchasing an additional 23,574 shares in the last quarter. Finally, Heron Bay Capital Management grew its position in shares of NL Industries by 138.6% in the 2nd quarter. Heron Bay Capital Management now owns 34,766 shares of the basic materials company’s stock valued at $210,000 after purchasing an additional 20,196 shares during the period. 10.67% of the stock is currently owned by institutional investors and hedge funds.

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.