153,346 Shares in Lsb Industries Inc. $LXU Purchased by Bank of America Corp DE

Key Points

• Bank of America acquired 153,346 shares of LSB Industries during the second quarter, valued at approximately $1.66 million and representing about 0.21% of the company. Institutional investors collectively own 73.67% of LXU.
• LSB Industries reported quarterly revenue of $168.09 million, exceeding estimates, but posted an EPS loss of $0.09 that fell well short of the expected $0.33 profit. Analysts project full-year EPS of $0.53.
• LXU shares opened at $9.74, well below the 52-week high of $17.22. Analyst sentiment is mostly neutral, with an average “Hold” rating and a consensus price target of $14.67.

Bank of America Corp DE acquired a new position in Lsb Industries Inc. (NYSE:LXU - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 153,346 shares of the conglomerate's stock, valued at approximately $1,658,000. Bank of America Corp DE owned about 0.21% of Lsb Industries at the end of the most recent quarter.

A number of other large investors have also modified their holdings of LXU. Arrowstreet Capital Limited Partnership purchased a new position in shares of Lsb Industries during the 1st quarter worth $11,458,000. Sei Investments Co. grew its holdings in shares of Lsb Industries by 343.2% in the first quarter. Sei Investments Co. now owns 182,351 shares of the conglomerate's stock valued at $2,717,000 after purchasing an additional 141,208 shares during the period. BlackRock Inc. purchased a new stake in shares of Lsb Industries in the second quarter valued at about $50,802,000. Bank of New York Mellon Corp acquired a new stake in Lsb Industries during the second quarter worth about $1,922,000. Finally, Robotti Robert acquired a new stake in Lsb Industries during the second quarter worth about $22,914,000. Hedge funds and other institutional investors own 73.67% of the company's stock.

Lsb Industries Stock Performance

NYSE:LXU opened at $9.74 on Friday. Lsb Industries Inc. has a fifty-two week low of $7.73 and a fifty-two week high of $17.22. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.31 and a current ratio of 2.43. The company has a 50 day moving average price of $10.64 and a 200 day moving average price of $12.28. The stock has a market capitalization of $701.57 million, a P/E ratio of 19.49 and a beta of 0.44.

Lsb Industries (NYSE:LXU - Get Free Report) last announced its earnings results on Wednesday, July 29th. The conglomerate reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.33 by ($0.42). Lsb Industries had a net margin of 5.58% and a return on equity of 6.98%. The firm had revenue of $168.09 million during the quarter, compared to analysts' expectations of $155.45 million. Equities research analysts forecast that Lsb Industries Inc. will post 0.53 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on LXU shares. Wall Street Zen lowered shares of Lsb Industries from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Weiss Ratings downgraded shares of Lsb Industries from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, August 4th. Finally, Royal Bank Of Canada raised shares of Lsb Industries from a "sector perform" rating to an "outperform" rating and set a $13.00 price target on the stock in a research report on Monday, August 10th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $14.67.

Lsb Industries Company Profile

LSB Industries, Inc is a diversified chemical company that manufactures nitrogen-based fertilizer and industrial products. Its agricultural offerings include ammonia, urea ammonium nitrate (UAN) and ammonium nitrate, which are used by farmers and agricultural distributors to support crop production.

The company also produces industrial chemicals, including ammonia and nitric acid, for applications in areas such as emissions control, chemical processing, mining and other industrial markets.

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