NL Industries (NYSE:NL) Posts Earnings Results, Misses Estimates By $0.03 EPS

NL Industries (NYSE:NL) announced its quarterly earnings data on Wednesday. The basic materials company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.03), FiscalAI reports. The company had revenue of $43.61 million for the quarter, compared to the consensus estimate of $40.92 million. NL Industries had a negative net margin of 21.56% and a negative return on equity of 8.74%.

NL Industries Stock Down 0.9%

NL Industries stock traded down $0.05 during mid-day trading on Wednesday, reaching $5.79. 42,552 shares of the company’s stock traded hands, compared to its average volume of 28,813. NL Industries has a 12-month low of $5.04 and a 12-month high of $8.60. The stock has a 50 day moving average of $5.99 and a two-hundred day moving average of $6.08. The company has a market cap of $282.80 million, a price-to-earnings ratio of -8.39 and a beta of 0.22.

NL Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Thursday, June 4th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $0.40 dividend on an annualized basis and a yield of 6.9%. NL Industries’s dividend payout ratio is presently -57.97%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NL. Wall Street Zen raised shares of NL Industries from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings raised shares of NL Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Institutional Trading of NL Industries

A number of large investors have recently made changes to their positions in NL. Aristides Capital LLC raised its position in shares of NL Industries by 0.5% during the 4th quarter. Aristides Capital LLC now owns 417,014 shares of the basic materials company’s stock valued at $2,281,000 after buying an additional 2,075 shares in the last quarter. Bridgeway Capital Management LLC grew its position in NL Industries by 8.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 299,093 shares of the basic materials company’s stock worth $1,636,000 after acquiring an additional 23,029 shares in the last quarter. Empowered Funds LLC grew its position in NL Industries by 11.0% in the fourth quarter. Empowered Funds LLC now owns 232,131 shares of the basic materials company’s stock worth $1,270,000 after acquiring an additional 23,029 shares in the last quarter. Geode Capital Management LLC increased its stake in NL Industries by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 209,872 shares of the basic materials company’s stock worth $1,148,000 after acquiring an additional 7,222 shares during the last quarter. Finally, Millennium Management LLC increased its stake in NL Industries by 179.0% during the third quarter. Millennium Management LLC now owns 33,077 shares of the basic materials company’s stock worth $203,000 after acquiring an additional 21,223 shares during the last quarter. 10.67% of the stock is currently owned by institutional investors.

NL Industries Company Profile

NL Industries, Inc is a U.S.-based industrial minerals company whose primary focus is the mining, upgrading and marketing of titanium feedstocks. The company’s products include synthetic rutile and chloride slag, which serve as key raw materials for producers of titanium dioxide pigment. These pigments are widely used as whitening and opacifying agents in coatings, plastics, paper and specialty applications.

NL Industries serves a global customer base, supplying feedstocks under long-term agreements and through spot transactions.