Geode Capital Management LLC Raises Stake in NL Industries, Inc. (NYSE:NL)

Geode Capital Management LLC increased its position in NL Industries, Inc. (NYSE:NL) by 1.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 185,598 shares of the basic materials company’s stock after acquiring an additional 3,014 shares during the period. Geode Capital Management LLC’s holdings in NL Industries were worth $1,379,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of NL. Dimensional Fund Advisors LP boosted its holdings in shares of NL Industries by 1.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,964,169 shares of the basic materials company’s stock worth $11,844,000 after purchasing an additional 23,574 shares during the last quarter. Empowered Funds LLC lifted its position in NL Industries by 5.4% during the third quarter. Empowered Funds LLC now owns 155,550 shares of the basic materials company’s stock worth $1,156,000 after buying an additional 7,906 shares during the period. Acadian Asset Management LLC lifted its position in 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 buying an additional 22,293 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in NL Industries by 42.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 52,569 shares of the basic materials company’s stock worth $391,000 after buying an additional 15,627 shares during the last quarter. Finally, Heron Bay Capital Management grew its holdings in 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 buying an additional 20,196 shares during the period. Hedge funds and other institutional investors own 10.67% of the company’s stock.

NL Industries Stock Performance

Shares of NYSE NL opened at $7.52 on Friday. NL Industries, Inc. has a 1 year low of $5.00 and a 1 year high of $9.42. The stock’s 50-day simple moving average is $7.95 and its 200-day simple moving average is $7.15. The firm has a market cap of $367.34 million, a price-to-earnings ratio of 6.27 and a beta of 0.54.

NL Industries Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Friday, November 29th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 4.26%. The ex-dividend date was Friday, November 29th. NL Industries’s dividend payout ratio is currently 26.67%.

Analysts Set New Price Targets

Separately, Barclays boosted their price objective on shares of NL Industries from $5.00 to $6.00 and gave the company an “underweight” rating in a research note on Wednesday, September 25th.

NL Industries 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.