Panagora Asset Management Inc. decreased its stake in NL Industries Inc (NYSE:NL) by 6.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,850 shares of the basic materials company’s stock after selling 3,558 shares during the period. Panagora Asset Management Inc.’s holdings in NL Industries were worth $193,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of NL. Wells Fargo & Company MN increased its holdings in shares of NL Industries by 40.0% in the 2nd quarter. Wells Fargo & Company MN now owns 31,174 shares of the basic materials company’s stock worth $114,000 after buying an additional 8,910 shares during the last quarter. Cutler Group LP increased its holdings in shares of NL Industries by 26.5% in the 1st quarter. Cutler Group LP now owns 29,725 shares of the basic materials company’s stock worth $115,000 after buying an additional 6,218 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of NL Industries by 5.4% in the 4th quarter. Geode Capital Management LLC now owns 56,700 shares of the basic materials company’s stock worth $199,000 after buying an additional 2,892 shares during the last quarter. 8.72% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:NL traded up $0.20 during trading on Friday, reaching $3.89. The company had a trading volume of 17,236 shares, compared to its average volume of 12,658. The company has a fifty day moving average of $3.83 and a two-hundred day moving average of $3.85. The stock has a market capitalization of $189.68 million, a P/E ratio of 7.71 and a beta of 2.73. NL Industries Inc has a 12 month low of $2.94 and a 12 month high of $7.00.
NL Industries (NYSE:NL) last issued its quarterly earnings results on Wednesday, August 7th. The basic materials company reported $0.44 EPS for the quarter. The firm had revenue of $33.70 million for the quarter. NL Industries had a net margin of 6.95% and a return on equity of 7.63%.
A number of brokerages have recently commented on NL. TheStreet raised shares of NL Industries from a “d+” rating to a “c” rating in a report on Tuesday, August 27th. ValuEngine raised shares of NL Industries from a “hold” rating to a “buy” rating in a report on Thursday, August 1st.
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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