Short Interest in NL Industries Inc (NYSE:NL) Rises By 55.8%

NL Industries Inc (NYSE:NL) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 128,500 shares, a growth of 55.8% from the July 31st total of 82,500 shares. Based on an average trading volume of 17,500 shares, the days-to-cover ratio is presently 7.3 days. Currently, 1.6% of the company’s stock are sold short.

A number of brokerages have recently issued reports on NL. TheStreet upgraded NL Industries from a “d+” rating to a “c” rating in a report on Tuesday, August 27th. ValuEngine upgraded NL Industries from a “hold” rating to a “buy” rating in a report on Thursday, August 1st.

Shares of NYSE:NL traded down $0.03 on Thursday, reaching $3.75. The company had a trading volume of 6,870 shares, compared to its average volume of 12,786. NL Industries has a 52-week low of $2.94 and a 52-week high of $7.40. The firm’s 50 day simple moving average is $3.85 and its 200-day simple moving average is $3.85. The firm has a market capitalization of $171.62 million, a PE ratio of 7.18 and a beta of 2.73.

NL Industries (NYSE:NL) last announced its earnings results on Wednesday, August 7th. The basic materials company reported $0.44 earnings per share for the quarter. NL Industries had a return on equity of 7.63% and a net margin of 6.95%. The firm had revenue of $33.70 million for the quarter.

A number of hedge funds have recently made changes to their positions in the stock. Susquehanna International Group LLP purchased a new position in NL Industries during the 2nd quarter worth $58,000. Morgan Stanley grew its stake in NL Industries by 1,689.3% during the 2nd quarter. Morgan Stanley now owns 36,090 shares of the basic materials company’s stock worth $132,000 after buying an additional 34,073 shares during the last quarter. Vanguard Group Inc. grew its stake in NL Industries by 7.1% during the 2nd quarter. Vanguard Group Inc. now owns 190,705 shares of the basic materials company’s stock worth $697,000 after buying an additional 12,618 shares during the last quarter. BlackRock Inc. grew its stake in NL Industries by 0.5% during the 2nd quarter. BlackRock Inc. now owns 524,179 shares of the basic materials company’s stock worth $1,913,000 after buying an additional 2,617 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in NL Industries by 6.1% during the 2nd quarter. Renaissance Technologies LLC now owns 216,504 shares of the basic materials company’s stock worth $790,000 after buying an additional 12,503 shares during the last quarter. Hedge funds and other institutional investors own 8.72% 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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