NL Industries, Inc. (NYSE:NL) Sees Large Growth in Short Interest
by Michael Walen · The Markets DailyNL Industries, Inc. (NYSE:NL – Get Free Report) was the target of a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 117,104 shares, an increase of 20.6% from the December 31st total of 97,120 shares. Based on an average trading volume of 89,737 shares, the short-interest ratio is currently 1.3 days. Approximately 0.2% of the company’s stock are sold short. Approximately 0.2% of the company’s stock are sold short. Based on an average trading volume of 89,737 shares, the short-interest ratio is currently 1.3 days.
NL Industries Stock Performance
NL Industries stock traded down $0.16 during mid-day trading on Wednesday, reaching $5.97. The company’s stock had a trading volume of 162,814 shares, compared to its average volume of 79,870. The business’s 50 day simple moving average is $5.80 and its 200 day simple moving average is $5.98. NL Industries has a 12 month low of $5.04 and a 12 month high of $9.27. The company has a market capitalization of $291.69 million, a price-to-earnings ratio of 29.85 and a beta of 0.27.
NL Industries (NYSE:NL – Get Free Report) last announced its quarterly earnings data on Thursday, November 6th. The basic materials company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.34). The company had revenue of $40.00 million during the quarter. NL Industries had a net margin of 6.10% and a return on equity of 2.36%.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings restated a “hold (c-)” rating on shares of NL Industries in a report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.
Get Our Latest Stock Analysis on NL Industries
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of NL. Ritholtz Wealth Management raised its holdings in shares of NL Industries by 12.5% in the 3rd quarter. Ritholtz Wealth Management now owns 29,064 shares of the basic materials company’s stock valued at $179,000 after purchasing an additional 3,239 shares during the period. Bridgeway Capital Management LLC grew its holdings in NL Industries by 9.6% during the third quarter. Bridgeway Capital Management LLC now owns 276,064 shares of the basic materials company’s stock worth $1,698,000 after purchasing an additional 24,132 shares during the period. Empowered Funds LLC increased its position in NL Industries by 3.7% during the first quarter. Empowered Funds LLC now owns 168,532 shares of the basic materials company’s stock worth $1,331,000 after buying an additional 6,032 shares during the last quarter. Geode Capital Management LLC raised its stake in NL Industries by 5.2% in the second quarter. Geode Capital Management LLC now owns 202,513 shares of the basic materials company’s stock valued at $1,296,000 after buying an additional 9,952 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of NL Industries by 15.5% in the first quarter. Goldman Sachs Group Inc. now owns 27,285 shares of the basic materials company’s stock valued at $216,000 after buying an additional 3,667 shares during the last quarter. Institutional investors own 10.67% of the company’s stock.
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.