Short Interest in NL Industries, Inc. (NYSE:NL) Grows By 81.8%

NL Industries, Inc. (NYSE:NL) saw a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 138,900 shares, a growth of 81.8% from the September 15th total of 76,400 shares. Based on an average daily volume of 27,800 shares, the short-interest ratio is presently 5.0 days. Approximately 1.7% of the company’s shares are short sold.

Separately, ValuEngine downgraded shares of NL Industries from a “buy” rating to a “hold” rating in a report on Monday, September 28th.

Hedge funds have recently modified their holdings of the business. Bridgeway Capital Management Inc. lifted its position in shares of NL Industries by 7.0% in the 2nd quarter. Bridgeway Capital Management Inc. now owns 91,600 shares of the basic materials company’s stock worth $312,000 after purchasing an additional 6,000 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of NL Industries by 7.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 52,025 shares of the basic materials company’s stock worth $178,000 after purchasing an additional 3,784 shares during the period. Bank of America Corp DE lifted its position in shares of NL Industries by 260.6% in the 2nd quarter. Bank of America Corp DE now owns 48,792 shares of the basic materials company’s stock worth $166,000 after purchasing an additional 35,260 shares during the period. Goldman Sachs Group Inc. purchased a new stake in shares of NL Industries in the 2nd quarter worth approximately $34,000. Finally, Venturi Wealth Management LLC purchased a new stake in shares of NL Industries in the 2nd quarter worth approximately $49,000. Institutional investors and hedge funds own 9.68% of the company’s stock.

Shares of NYSE:NL opened at $4.97 on Friday. The company has a market capitalization of $242.48 million, a price-to-earnings ratio of 21.61 and a beta of 1.39. NL Industries has a 12 month low of $2.28 and a 12 month high of $5.40. The firm’s 50-day moving average is $4.12 and its 200 day moving average is $3.44.

NL Industries (NYSE:NL) last issued its earnings results on Wednesday, August 5th. The basic materials company reported $0.09 EPS for the quarter. The business had revenue of $23.80 million for the quarter. NL Industries had a net margin of 9.71% and a return on equity of 3.55%.

About NL Industries

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.

Featured Story: Moving Average Convergence Divergence (MACD)

Receive News & Ratings for NL Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NL Industries and related companies with MarketBeat.com's FREE daily email newsletter.