BlackRock Inc. Makes New Investment in Lsb Industries Inc. $LXU

Key Points

• BlackRock initiated a major position in LSB Industries during the second quarter, purchasing 4.7 million shares worth approximately $50.8 million, or about 6.53% of the company. Institutional investors collectively own 73.67% of LXU.
• Analyst sentiment remains mixed: Royal Bank of Canada upgraded the stock to “outperform” with a $13 target, while other firms maintained or moved to “hold” ratings. The consensus rating is “Hold,” with a $14.67 price target.
• LSB Industries reported quarterly revenue of $168.09 million, exceeding estimates, but posted a loss of $0.09 per share versus expectations for $0.33 in earnings. Shares opened at $10.63, within a 52-week range of $7.71 to $17.22.

BlackRock Inc. bought a new stake in shares of Lsb Industries Inc. (NYSE:LXU - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,699,495 shares of the conglomerate's stock, valued at approximately $50,802,000. BlackRock Inc. owned approximately 6.53% of Lsb Industries as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in LXU. Arrowstreet Capital Limited Partnership bought a new position in shares of Lsb Industries during the 1st quarter valued at about $11,458,000. Sei Investments Co. boosted its holdings in shares of Lsb Industries by 343.2% in the 1st quarter. Sei Investments Co. now owns 182,351 shares of the conglomerate's stock worth $2,717,000 after purchasing an additional 141,208 shares during the period. Hillsdale Investment Management Inc. bought a new position in Lsb Industries during the first quarter valued at $4,416,000. Bank of America Corp DE grew its holdings in Lsb Industries by 124.7% during the 1st quarter. Bank of America Corp DE now owns 249,021 shares of the conglomerate's stock valued at $3,710,000 after purchasing an additional 138,217 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Lsb Industries by 2.7% in the first quarter. Renaissance Technologies LLC now owns 1,792,506 shares of the conglomerate's stock worth $26,708,000 after buying an additional 46,613 shares during the period. 73.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Kristy Carver sold 9,554 shares of the business's stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $12.38, for a total transaction of $118,278.52. Following the completion of the sale, the senior vice president directly owned 47,452 shares in the company, valued at approximately $587,455.76. The trade was a 16.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lynn F. White sold 40,000 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $11.80, for a total transaction of $472,000.00. Following the completion of the sale, the director owned 202,489 shares of the company's stock, valued at $2,389,370.20. This trade represents a 16.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 3.00% of the company's stock.

Analysts Set New Price Targets

LXU has been the topic of a number of research reports. Weiss Ratings lowered shares of Lsb Industries from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, August 4th. Royal Bank Of Canada raised shares of Lsb Industries from a "sector perform" rating to an "outperform" rating and set a $13.00 target price for the company in a research report on Monday, August 10th. UBS Group set a $16.00 price target on Lsb Industries and gave the company a "neutral" rating in a research note on Wednesday, May 13th. Finally, Wall Street Zen downgraded shares of Lsb Industries from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $14.67.

Lsb Industries Trading Up 2.3%

LXU stock opened at $10.63 on Tuesday. The company has a quick ratio of 2.31, a current ratio of 2.43 and a debt-to-equity ratio of 0.82. Lsb Industries Inc. has a 52-week low of $7.71 and a 52-week high of $17.22. The company's 50-day simple moving average is $10.75 and its 200-day simple moving average is $12.40. The firm has a market cap of $765.36 million, a P/E ratio of 21.26 and a beta of 0.30.

Lsb Industries (NYSE:LXU - Get Free Report) last released its quarterly 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 company had revenue of $168.09 million during the quarter, compared to analyst estimates of $155.45 million. As a group, equities analysts forecast that Lsb Industries Inc. will post 0.53 EPS for the current fiscal year.

Lsb Industries Profile

LSB Industries, Inc NYSE: LXU is an Oklahoma City–based manufacturer of chemical products serving the agricultural, industrial and defense markets. The company operates primarily through two segments: Fertilizer Solutions and Commodities Solutions. Through its Fertilizer Solutions segment, LSB produces primary nitrogen products—including anhydrous ammonia and technical-grade ammonium nitrate—that are sold to fertilizer distributors and agricultural retailers across North America. Its Commodities Solutions segment manufactures and sells nitric acid, sodium nitrate and other nitrate-based compounds for industrial applications such as mining, water treatment and specialty chemical production, as well as defense-related formulations used in munitions and pyrotechnics.

Incorporated in 1969, LSB Industries has grown from a single production site to multiple manufacturing facilities strategically located in the central United States.

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