LSB Industries Inc. (LXU) Bond Prices Fall 2.5%
An issue of LSB Industries Inc. (NYSE:LXU) debt fell 2.5% against its face value during trading on Thursday. The high-yield issue of debt has a 7.75% coupon and will mature on August 1, 2019. The debt is now trading at $98.00 and was trading at $101.13 one week ago. Price changes in a company’s debt in credit markets sometimes predict parallel changes in its share price.
Separately, Zacks Investment Research cut shares of LSB Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, September 13th.
Shares of LSB Industries Inc. (NYSE:LXU) opened at 7.21 on Friday. The firm’s market cap is $201.41 million. LSB Industries Inc. has a 52 week low of $3.68 and a 52 week high of $18.23. The company has a 50 day moving average of $9.90 and a 200 day moving average of $11.94.
LSB Industries (NYSE:LXU) last announced its quarterly earnings data on Monday, August 8th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by $0.36. The firm earned $109.98 million during the quarter, compared to the consensus estimate of $167.65 million. LSB Industries had a negative return on equity of 8.23% and a negative net margin of 7.06%. The firm’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.02 EPS. On average, equities research analysts anticipate that LSB Industries Inc. will post ($3.16) EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in LXU. Wilen Investment Management CORP. purchased a new stake in shares of LSB Industries during the second quarter valued at about $115,000. Royal Bank of Canada increased its stake in LSB Industries by 5.9% in the first quarter. Royal Bank of Canada now owns 9,282 shares of the company’s stock valued at $118,000 after buying an additional 518 shares in the last quarter. Arizona State Retirement System increased its stake in LSB Industries by 2.9% in the second quarter. Arizona State Retirement System now owns 10,620 shares of the company’s stock valued at $128,000 after buying an additional 300 shares in the last quarter. Metropolitan Life Insurance Co. NY bought a new stake in LSB Industries during the second quarter valued at $178,000. Finally, American International Group Inc. increased its stake in LSB Industries by 1.5% in the second quarter. American International Group Inc. now owns 15,336 shares of the company’s stock valued at $185,000 after buying an additional 222 shares in the last quarter. 69.69% of the stock is owned by institutional investors and hedge funds.
About LSB Industries
LSB Industries, Inc is a diversified holding company engaged in manufacturing operations through its subsidiaries. The Company’s segments are Chemical Business, Climate Control Business and Other. Its Chemical Business segment manufactures and sells nitrogen-based chemical products for the agricultural, industrial and mining markets.
Receive News & Stock Ratings for LSB Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LSB Industries Inc. and related stocks with our FREE daily email newsletter.