Bank of New York Mellon Corp Boosts Stake in NL Industries, Inc. (NYSE:NL)

Bank of New York Mellon Corp raised its position in NL Industries, Inc. (NYSE:NL) by 77.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,160 shares of the basic materials company’s stock after purchasing an additional 19,316 shares during the quarter. Bank of New York Mellon Corp owned 0.09% of NL Industries worth $343,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Barclays PLC boosted its position 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. Rhumbline Advisers lifted its stake in shares of NL Industries by 17.6% during the fourth quarter. Rhumbline Advisers now owns 14,816 shares of the basic materials company’s stock worth $115,000 after purchasing an additional 2,217 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of NL Industries by 112.1% during the third quarter. JPMorgan Chase & Co. now owns 22,357 shares of the basic materials company’s stock worth $166,000 after purchasing an additional 11,815 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of NL Industries by 1,454.4% in the third quarter. BNP Paribas Financial Markets now owns 22,492 shares of the basic materials company’s stock worth $167,000 after buying an additional 21,045 shares during the period. Finally, Ritholtz Wealth Management grew its stake in shares of NL Industries by 34.6% in the fourth quarter. Ritholtz Wealth Management now owns 29,361 shares of the basic materials company’s stock valued at $228,000 after buying an additional 7,548 shares in the last quarter. 10.67% of the stock is owned by institutional investors and hedge funds.

NL Industries Trading Down 4.2 %

Shares of NYSE NL opened at $7.72 on Friday. The company has a market capitalization of $376.86 million, a price-to-earnings ratio of 6.43 and a beta of 0.56. NL Industries, Inc. has a twelve month low of $5.20 and a twelve month high of $9.42. The business has a 50 day simple moving average of $7.42 and a 200-day simple moving average of $7.61.

NL Industries (NYSE:NL) last posted its quarterly earnings results on Thursday, March 6th. The basic materials company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.21 by $0.13. The business had revenue of $38.40 million during the quarter. NL Industries had a net margin of 38.69% and a return on equity of 14.74%.

NL Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 11th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 4.67%. This is a positive change from NL Industries’s previous quarterly dividend of $0.08. The ex-dividend date was Tuesday, March 11th. NL Industries’s dividend payout ratio (DPR) is 26.09%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of NL Industries from a “strong-buy” rating to a “buy” rating in a research note on Monday, March 10th.

Insider Activity at NL Industries

In other news, Director Kevin B. Kramer purchased 6,500 shares of the stock in a transaction dated Tuesday, March 11th. The shares were bought at an average cost of $6.59 per share, for a total transaction of $42,835.00. Following the transaction, the director now owns 9,350 shares in the company, valued at $61,616.50. This trade represents a 228.07 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.26% 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.