Gladius Capital Management LP Purchases New Position in NL Industries, Inc. (NYSE:NL)

Gladius Capital Management LP acquired a new position in NL Industries, Inc. (NYSE:NL) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,296 shares of the basic materials company’s stock, valued at approximately $39,000.

Several other hedge funds have also modified their holdings of NL. BNP Paribas Financial Markets raised its stake in NL Industries by 74.5% during the first quarter. BNP Paribas Financial Markets now owns 3,929 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 1,677 shares in the last quarter. Aristides Capital LLC increased its holdings in shares of NL Industries by 1.1% in the 1st quarter. Aristides Capital LLC now owns 405,313 shares of the basic materials company’s stock worth $2,971,000 after buying an additional 4,294 shares during the last quarter. Vanguard Group Inc. raised its position in shares of NL Industries by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 356,510 shares of the basic materials company’s stock valued at $2,613,000 after buying an additional 4,412 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of NL Industries by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 155,550 shares of the basic materials company’s stock valued at $1,156,000 after acquiring an additional 7,906 shares during the last quarter. Finally, Heron Bay Capital Management purchased a new position in NL Industries in the first quarter worth about $107,000. 10.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Barclays lifted their target price on NL Industries from $5.00 to $6.00 and gave the stock an “underweight” rating in a report on Wednesday, September 25th.

NL Industries Trading Up 1.8 %

NL stock opened at $7.97 on Friday. The stock has a market cap of $389.33 million, a PE ratio of 6.64 and a beta of 0.51. NL Industries, Inc. has a 12 month low of $4.46 and a 12 month high of $8.93. The company has a 50-day moving average price of $7.53 and a 200 day moving average price of $6.98.

NL Industries Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Friday, November 29th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, November 29th. This represents a $0.32 annualized dividend and a dividend yield of 4.02%. NL Industries’s dividend payout ratio (DPR) is presently 26.67%.

NL Industries Profile

NL Industries, Inc, through its subsidiary, CompX International Inc, operates in the component products industry in Europe, North America, the Asia Pacific, and internationally. The company manufactures and sells mechanical and electronic cabinet locks and other locking mechanisms, including disc tumbler locks; pin tumbler locking mechanisms under KeSet, System 64, TuBar, and Turbine brands; and electronic locks under CompX eLock and StealthLock brands for use in various applications, such as mailboxes, ignition systems, file cabinets, desk drawers, tool storage cabinets, high security medical cabinetry, integrated inventory and access control secured narcotics boxes, electronic circuit panels, storage compartments, gas station security, vending and cash containment machines.