United States Lime & Minerals (NASDAQ:USLM) Stock Price Breaks Above 200-Day Moving Average Following Weak Earnings

Shares of United States Lime & Minerals, Inc. (NASDAQ:USLM) passed above its two hundred day moving average during trading on Monday following a stronger than expected earnings report. The stock has a two hundred day moving average of $115.20 and traded as high as $124.79. United States Lime & Minerals shares last traded at $118.99, with a volume of 324,351 shares traded.

The construction company reported $1.32 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.16). The firm had revenue of $106.19 million during the quarter, compared to analysts’ expectations of $122.00 million. United States Lime & Minerals had a net margin of 35.66% and a return on equity of 20.76%.

United States Lime & Minerals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 20th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Friday, November 20th. United States Lime & Minerals’s payout ratio is currently 5.17%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on USLM. Weiss Ratings upgraded shares of United States Lime & Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 9th. Freedom Broker dropped their target price on shares of United States Lime & Minerals from $132.00 to $131.00 and set a “buy” rating for the company in a research report on Monday. Two analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $131.00.

Insider Buying and Selling

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

Hedge Funds Weigh In On United States Lime & Minerals

A number of institutional investors have recently bought and sold shares of USLM. BlackRock Inc. purchased a new stake in shares of United States Lime & Minerals in the 2nd quarter valued at approximately $174,390,000. First Trust Advisors LP grew its stake in United States Lime & Minerals by 85.0% during the 1st 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 in the last quarter. State Street Corp increased its stake in United States Lime & Minerals by 78.1% in the 2nd quarter. State Street Corp now owns 419,491 shares of the construction company’s stock valued at $43,908,000 after buying an additional 183,902 shares during the period. William Blair Investment Management LLC acquired a new position in shares of United States Lime & Minerals in the second quarter worth $17,782,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of United States Lime & Minerals during the 2nd quarter worth about $9,593,000. Hedge funds and other institutional investors own 27.12% of the company’s stock.

United States Lime & Minerals Price Performance

The stock’s 50 day simple moving average is $112.73 and its 200-day simple moving average is $115.20. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of 25.64 and a beta of 0.66.

United States Lime & Minerals Company Profile

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.