United States Lime & Minerals (NASDAQ:USLM) Shares Cross Below 200 Day Moving Average – Here’s What Happened

United States Lime & Minerals, Inc. (NASDAQ:USLM) shares passed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $113.67 and traded as low as $105.33. United States Lime & Minerals shares last traded at $106.59, with a volume of 157,689 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded United States Lime & Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 9th. One equities research analyst has rated the stock with a Buy rating. According to MarketBeat.com, the company currently has a consensus rating of “Buy”.

United States Lime & Minerals Trading Up 0.2%

The business’s 50 day simple moving average is $113.59 and its 200 day simple moving average is $113.50. The firm has a market capitalization of $3.20 billion, a PE ratio of 23.92 and a beta of 0.66.

United States Lime & Minerals (NASDAQ:USLM) last announced its earnings results on Wednesday, July 29th. The construction company reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.10). United States Lime & Minerals had a net margin of 35.66% and a return on equity of 20.76%. The business had revenue of $99.13 million for the quarter, compared to analysts’ expectations of $108.00 million.

United States Lime & Minerals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 21st were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Friday, August 21st. United States Lime & Minerals’s payout ratio is presently 5.14%.

Insider Buying and Selling

In other news, Director Antoine M. Doumet sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $110.00, for a total value of $2,200,000.00. Following the completion of the sale, the director directly owned 90,000 shares of the company’s stock, valued at $9,900,000. This trade represents a 18.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Holdings Ltd. Candou acquired 20,000 shares of the stock in a transaction dated Wednesday, September 9th. The stock was bought at an average cost of $110.00 per share, with a total value of $2,200,000.00. Following the completion of the purchase, the insider directly owned 17,673,780 shares in the company, valued at approximately $1,944,115,800. The trade was a 0.11% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 1.50% of the company’s stock.

Institutional Trading of United States Lime & Minerals

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in United States Lime & Minerals during the second quarter worth $174,390,000. First Trust Advisors LP raised its stake in shares of United States Lime & Minerals by 85.0% in the first quarter. First Trust Advisors LP now owns 441,951 shares of the construction company’s stock valued at $57,723,000 after acquiring an additional 203,030 shares during the period. State Street Corp raised its stake in shares of United States Lime & Minerals by 78.1% in the second quarter. State Street Corp now owns 419,491 shares of the construction company’s stock valued at $43,908,000 after acquiring an additional 183,902 shares during the period. William Blair Investment Management LLC purchased a new stake in shares of United States Lime & Minerals in the second quarter valued at $17,782,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of United States Lime & Minerals in the 2nd quarter worth about $9,593,000. Hedge funds and other institutional investors own 27.12% of the company’s stock.

About United States Lime & Minerals

United States Lime & Minerals, Inc is a producer of lime and limestone products used in construction, industrial processing, environmental applications and other commercial activities. The company operates through its Lime and Limestone Operations segments.

Its product portfolio includes quicklime, hydrated lime and various crushed limestone and aggregate products. These materials are used in applications such as road construction, concrete and asphalt production, water and wastewater treatment, flue-gas treatment, steel manufacturing and other industrial processes.

Founded in 1948, United States Lime & Minerals serves customers primarily in Texas and surrounding regions, with production and distribution activities focused on the south-central United States.