NL Industries Inc (NYSE:NL) Short Interest Up 8.6% in June

NL Industries Inc (NYSE:NL) saw a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 108,300 shares, an increase of 8.6% from the May 15th total of 99,700 shares. Approximately 1.3% of the shares of the company are short sold. Based on an average daily volume of 17,300 shares, the short-interest ratio is presently 6.3 days.

NYSE:NL remained flat at $$4.96 during trading hours on Friday. 53,157 shares of the company’s stock traded hands, compared to its average volume of 24,614. The stock has a market capitalization of $241.69 million, a PE ratio of 26.11 and a beta of 2.59. NL Industries has a 12 month low of $2.94 and a 12 month high of $9.15. The business’s 50-day moving average price is $3.77.

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

Separately, TheStreet downgraded shares of Whitestone REIT from a “b-” rating to a “c+” rating in a research report on Monday, April 1st.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC lifted its stake 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 valued at $199,000 after acquiring an additional 2,892 shares during the period. Cutler Group LP lifted its stake 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 valued at $115,000 after acquiring an additional 6,218 shares during the period. BlackRock Inc. lifted its stake in NL Industries by 1.6% during the 4th quarter. BlackRock Inc. now owns 538,057 shares of the basic materials company’s stock valued at $1,888,000 after acquiring an additional 8,527 shares during the period. Finally, Rhumbline Advisers acquired a new stake in NL Industries during the 4th quarter valued at approximately $42,000. 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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