NL Industries (NYSE:NL) Lowered to “Hold” at ValuEngine

NL Industries (NYSE:NL) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, ValuEngine reports.

Separately, TheStreet upgraded NL Industries from a “d+” rating to a “c” rating in a report on Tuesday, August 27th.

Shares of NL opened at $4.15 on Wednesday. The company has a 50-day simple moving average of $4.23 and a two-hundred day simple moving average of $3.90. The firm has a market capitalization of $206.72 million, a PE ratio of 5.37 and a beta of 2.69. NL Industries has a one year low of $2.94 and a one year high of $5.45.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in NL Industries by 0.5% in the second quarter. BlackRock Inc. now owns 524,179 shares of the basic materials company’s stock worth $1,913,000 after purchasing an additional 2,617 shares during the period. Renaissance Technologies LLC raised its holdings in NL Industries by 6.1% in the second quarter. Renaissance Technologies LLC now owns 216,504 shares of the basic materials company’s stock worth $790,000 after purchasing an additional 12,503 shares in the last quarter. Vanguard Group Inc. raised its holdings in NL Industries by 7.1% in the second quarter. Vanguard Group Inc. now owns 190,705 shares of the basic materials company’s stock worth $697,000 after purchasing an additional 12,618 shares in the last quarter. Morgan Stanley lifted its position in NL Industries by 1,689.3% during the second quarter. Morgan Stanley now owns 36,090 shares of the basic materials company’s stock valued at $132,000 after buying an additional 34,073 shares during the period. Finally, Wells Fargo & Company MN lifted its position in NL Industries by 40.0% during the second quarter. Wells Fargo & Company MN now owns 31,174 shares of the basic materials company’s stock valued at $114,000 after buying an additional 8,910 shares during the period. Institutional investors own 8.65% 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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