Connor Clark & Lunn Investment Management Ltd. Increases Holdings in NL Industries, Inc. (NYSE:NL)

Connor Clark & Lunn Investment Management Ltd. raised its stake in NL Industries, Inc. (NYSE:NL) by 42.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,569 shares of the basic materials company’s stock after buying an additional 15,627 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in NL Industries were worth $391,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Gladius Capital Management LP acquired a new position in shares of NL Industries during the 3rd quarter valued at about $39,000. Ritholtz Wealth Management purchased a new position in NL Industries during the second quarter worth about $112,000. O Shaughnessy Asset Management LLC acquired a new position in NL Industries in the 1st quarter valued at about $139,000. Raymond James Trust N.A. purchased a new stake in shares of NL Industries in the 2nd quarter valued at approximately $130,000. Finally, Heron Bay Capital Management increased its stake in NL Industries by 138.6% during the second quarter. Heron Bay Capital Management now owns 34,766 shares of the basic materials company’s stock worth $210,000 after acquiring an additional 20,196 shares during the last quarter. 10.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Barclays boosted their price target on shares of NL Industries from $5.00 to $6.00 and gave the company an “underweight” rating in a research note on Wednesday, September 25th.

NL Industries Price Performance

Shares of NL Industries stock opened at $7.95 on Friday. The stock has a market capitalization of $388.34 million, a price-to-earnings ratio of 6.63 and a beta of 0.51. The business has a 50-day moving average of $7.76 and a 200 day moving average of $6.97. NL Industries, Inc. has a 12 month low of $4.46 and a 12 month high of $8.93.

NL Industries Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 4.03%. The ex-dividend date is Friday, November 29th. NL Industries’s payout ratio is 26.67%.

NL Industries Company 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.