Zacks Investment Research upgraded shares of LSB Industries (NYSE:LXU) from a hold rating to a buy rating in a report released on Wednesday, Zacks.com reports. The brokerage currently has $5.00 price target on the conglomerate’s stock.
According to Zacks, “LSB Industries, Inc., is a diversified holding company involved in manufacturing operations through its subsidiaries. It manufactures and sells chemical products for the agricultural, mining, and industrial markets. The company operates through Chemical Business which manufactures and sells nitrogen based chemical products including high purity and commercial grade anhydrous ammonia, industrial and fertilizer grade ammonium nitrate, urea ammonium nitrate, nitric acids in various concentrations, nitrogen solutions, diesel exhaust fluid and various other products. It’s Engineered Products Business markets a proprietary line of precision metal working machine tools and industrial performance solutions to customers worldwide. The company owns and operates facilities in Cherokee, Alabama, El Dorado, Arkansas and Pryor, Oklahoma, and operates a facility within a global chemical company’s complex in Baytown, TX. LSB’s products are sold through distributors and directly to end customers throughout the United States. “
Separately, ValuEngine downgraded LSB Industries from a strong-buy rating to a buy rating in a research note on Monday, August 12th.
LSB Industries (NYSE:LXU) last released its quarterly earnings data on Monday, July 29th. The conglomerate reported ($0.05) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.47) by $0.42. LSB Industries had a negative return on equity of 13.19% and a negative net margin of 11.29%. The company had revenue of $121.53 million during the quarter, compared to the consensus estimate of $97.55 million. Equities analysts anticipate that LSB Industries will post -2.29 EPS for the current year.
In other news, Director Richard Roedel acquired 19,720 shares of the stock in a transaction dated Thursday, August 1st. The stock was bought at an average price of $5.26 per share, with a total value of $103,727.20. Following the completion of the purchase, the director now directly owns 28,780 shares of the company’s stock, valued at approximately $151,382.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lynn F. White acquired 10,000 shares of the stock in a transaction dated Friday, August 16th. The stock was purchased at an average cost of $4.21 per share, with a total value of $42,100.00. Following the purchase, the director now directly owns 44,689 shares of the company’s stock, valued at $188,140.69. The disclosure for this purchase can be found here. Insiders bought 49,020 shares of company stock valued at $245,029 in the last ninety days. 16.30% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in LSB Industries by 2.2% during the 2nd quarter. BlackRock Inc. now owns 3,116,020 shares of the conglomerate’s stock valued at $12,153,000 after purchasing an additional 67,015 shares during the period. Dimensional Fund Advisors LP increased its position in LSB Industries by 2.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,657,844 shares of the conglomerate’s stock valued at $9,151,000 after purchasing an additional 46,565 shares during the period. Vanguard Group Inc. increased its position in LSB Industries by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 1,351,332 shares of the conglomerate’s stock valued at $5,270,000 after purchasing an additional 35,248 shares during the period. Eidelman Virant Capital increased its position in LSB Industries by 3.5% during the 2nd quarter. Eidelman Virant Capital now owns 460,214 shares of the conglomerate’s stock valued at $1,794,000 after purchasing an additional 15,548 shares during the period. Finally, Renaissance Technologies LLC increased its position in LSB Industries by 14.2% during the 2nd quarter. Renaissance Technologies LLC now owns 319,499 shares of the conglomerate’s stock valued at $1,246,000 after purchasing an additional 39,800 shares during the period. 71.66% of the stock is owned by institutional investors and hedge funds.
About LSB Industries
LSB Industries, Inc manufactures and sells chemical products for the agricultural, mining, and industrial markets in the United States. It provides nitrogen-based fertilizers, such as ammonia, fertilizer grade ammonium nitrate (HDAN), and urea ammonia nitrate for fertilizer and fertilizer blends for corn and other crops, and NPK fertilizer blends applications.
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