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

NL Industries, Inc. (NYSE:NL) was the recipient of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 82,500 shares, a decrease of 16.9% from the October 31st total of 99,300 shares. Based on an average daily volume of 27,400 shares, the days-to-cover ratio is currently 3.0 days. Approximately 1.0% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

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

Institutional Trading of NL Industries

Institutional investors have recently bought and sold shares of the business. Gladius Capital Management LP acquired a new position in shares of NL Industries in the 3rd quarter valued at $39,000. Barclays PLC increased its holdings in NL Industries by 311.4% during the 3rd quarter. Barclays PLC now owns 11,934 shares of the basic materials company’s stock worth $89,000 after purchasing an additional 9,033 shares during the period. Ritholtz Wealth Management purchased a new stake in NL Industries during the 2nd quarter worth about $112,000. O Shaughnessy Asset Management LLC purchased a new position in shares of NL Industries in the 1st quarter valued at about $139,000. Finally, Raymond James Trust N.A. purchased a new position in shares of NL Industries in the 2nd quarter valued at about $130,000. 10.67% of the stock is owned by institutional investors and hedge funds.

NL Industries Trading Down 0.3 %

Shares of NL opened at $7.95 on Monday. NL Industries has a 12 month low of $4.46 and a 12 month high of $8.93. The stock’s 50 day moving average is $7.76 and its two-hundred day moving average is $6.97. The firm has a market cap of $388.36 million, a P/E ratio of 6.63 and a beta of 0.51.

NL Industries Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Friday, November 29th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 4.03%. The ex-dividend date is Friday, November 29th. NL Industries’s payout ratio is currently 26.67%.

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.