LSB Industries (LXU)
Maker of ammonium nitrate, UAN, and ammonia at four US nitrogen-chemical plants.
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Makes ammonium nitrate, nitric acid, urea ammonium nitrate, and ammonia at four US nitrogen-chemical plants, selling into agricultural fertilizer dealers and industrial buyers such as mining explosives makers, while building a low-carbon ammonia line through a carbon-capture partnership at its Arkansas plant.
Produces nitrogen-based chemicals from four US plants, three owned outright in Arkansas, Alabama, and Oklahoma and a fourth in Texas run under a long-term operating contract. The product line covers ammonium nitrate and nitric acid, urea ammonium nitrate, and ammonia, made from a shared ammonia feedstock.
Output splits across two customer bases: agricultural dealers and distributors supplying grain and ranch country, and industrial buyers in mining explosives, water treatment, and emissions abatement. Recent capital spending has favored plant turnarounds and small debottlenecks over new capacity.
A carbon-capture partnership at the Arkansas plant is building a low-carbon ammonia line, backed by a multi-year supply agreement for the resulting product and a separate collaboration exploring ammonia as a transport fuel.
Natural gas is the primary feedstock, so plant economics track gas costs alongside nitrogen commodity pricing.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 10, 2026 | RBC Capital | Upgrade | Target: $15 | Target: $13 |
| May 13, 2026 | UBS | Reiterate | Rating: —Target: $9.75 | Target: $16 |
| May 11, 2026 | RBC Capital | Reiterate | Rating: —Target: $11 | Target: $15 |
| Apr 7, 2026 | RBC Capital | Downgrade | ||
| Jan 20, 2026 | RBC Capital | Reiterate | Rating: —Target: $20 | Target: $11 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $218.0M · Total debt $481.5M · Total assets $1.22B · Shareholders' equity $539.2M
- Revenue
- $168.1M
- Operating income
- −$1.5M
- Net income
- −$6.2M
No dividends on record.
| Institutions | ≈ 68.98% | 49.66M shares | |
|---|---|---|---|
| 208 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 19.37% | 13.94M shares | |
| 15 holders · as of Sep 17, 2026 | |||
| Strategic holders | 25.38% | 18.27M shares | |
| 1 holder · as of Nov 10, 2022 | |||
| Adds to | 113.73% | ||
72.00M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
These groups come from separate filings that can overlap, so they add to 113.73%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
SBT Investors LLC1Strategic10 percent owner | 25.38% | 18.27M | filed Nov 10, 2022 |
Todd L. BoehlyInsider10 percent owner | 14.47% | 10.42M | filed Mar 30, 2026 |
BlackRock, Inc.Institution | 6.53% | 4.70M | as of Jun 30, 2026 |
American Century Companies IncInstitution | 4.45% | 3.21M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 3.49% | 2.51M | as of Jun 30, 2026 |
- SBT Investors LLC's own ownership statement (13D, Nov 10, 2022) reports fewer shares than the transaction reports; the statement is used.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 15, 2026 | Jonathan Z. Ackerman | director | +1,000 | $11.30 |
| Aug 12, 2026 | Jonathan Z. Ackerman | director | +1,000 | $9.89 |
| Jun 10, 2026 | Lynn F. White | director | −40,000 | $11.80 |
| Jun 8, 2026 | Kristy Carver | officer: SVP and Treasurer | −9,554 | $12.38 |
| Mar 26, 2026 | Todd L. Boehly | 10 percent owner | −4,889,159 | $14.85 |
- CF Industries
Head-to-head in ammonia and UAN production at far larger scale
- CVR Partners
US-only pure-play nitrogen partnership; closest structural comparable
- Nutrien
World's largest fertilizer producer/retailer; nitrogen, potash, phosphate
- Old Republic International
World's largest commercial explosives and blasting systems provider
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| LSB Industries | $10.58 | +1.29% | $751.0M | 20.9 | 10.8 | 1.1 | +11.1% |
| CF Industries | $120.52 | −2.23% | $18.93B | 9.1 | 9.4 | 2.4 | +17.6% |
| CVR Partners | $128.90 | −0.16% | $1.36B | 8.5 | — | 2.0 | +20.0% |
| Nutrien | $75.47 | +1.25% | $35.78B | 15.1 | 14.3 | 1.3 | +0.3% |
| Old Republic International | $38.83 | −1.01% | $9.55B | 8.6 | 12.1 | 1.0 | +13.4% |
| Median | 8.9 | 12.1 | 1.6 | +15.5% |