ValuEngine Upgrades NL Industries (NYSE:NL) to “Buy”

ValuEngine upgraded shares of NL Industries (NYSE:NL) from a hold rating to a buy rating in a report released on Thursday morning, ValuEngine reports.

NYSE NL traded down $0.38 on Thursday, hitting $4.12. 16,276 shares of the company’s stock traded hands, compared to its average volume of 27,521. NL Industries has a 1-year low of $2.94 and a 1-year high of $9.15. The stock’s 50-day moving average price is $4.15. The firm has a market cap of $219.27 million, a price-to-earnings ratio of 23.68 and a beta of 2.60.

NL Industries (NYSE:NL) last announced its quarterly earnings data on Thursday, May 9th. The basic materials company reported $0.31 EPS for the quarter. NL Industries had a negative net margin of 33.06% and a positive return on equity of 2.92%. The business had revenue of $31.20 million during the quarter.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its position in NL Industries by 1.6% during the 4th quarter. BlackRock Inc. now owns 538,057 shares of the basic materials company’s stock worth $1,888,000 after acquiring an additional 8,527 shares in the last quarter. Geode Capital Management LLC lifted its position in NL Industries by 5.4% during the 4th quarter. Geode Capital Management LLC now owns 56,700 shares of the basic materials company’s stock worth $199,000 after acquiring an additional 2,892 shares in the last quarter. Finally, Cutler Group LP lifted its position in NL Industries by 26.5% during the 1st quarter. Cutler Group LP now owns 29,725 shares of the basic materials company’s stock worth $115,000 after acquiring an additional 6,218 shares in the last quarter. Institutional investors and hedge funds own 8.76% of the company’s stock.

NL Industries Company Profile

NL Industries, Inc, through its subsidiary CompX International Inc, operates in the component products industry in the United States and internationally. The company manufactures and sells mechanical and electronic cabinet locks, and other locking mechanisms, including disc tumbler locks, pin tumbler locking mechanisms, and CompX eLock and StealthLock electronic locks for use in various applications, such as ignition systems, mailboxes, file cabinets, desk drawers, tool storage cabinets, vending and cash containment machines, medical cabinetry, electronic circuit panels, storage compartments, and gas station security.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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