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

United States Lime & Minerals, Inc. (NASDAQ:USLM)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $115.41 and traded as high as $122.37. United States Lime & Minerals shares last traded at $120.31, with a volume of 94,622 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded United States Lime & Minerals from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, June 30th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold”.

United States Lime & Minerals Stock Performance

The business’s fifty day simple moving average is $108.44 and its 200-day simple moving average is $115.36. The firm has a market capitalization of $3.42 billion, a PE ratio of 25.55 and a beta of 0.72.

United States Lime & Minerals (NASDAQ:USLM) last posted its earnings results on Wednesday, July 29th. The construction company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.10). The company had revenue of $99.13 million for the quarter, compared to analysts’ expectations of $108.00 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 company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, August 21st. United States Lime & Minerals’s payout ratio is 5.14%.

Hedge Funds Weigh In On United States Lime & Minerals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in USLM. Amundi bought a new stake in United States Lime & Minerals in the 1st quarter worth approximately $354,000. Millennium Management LLC grew its holdings in shares of United States Lime & Minerals by 202.9% in the first quarter. Millennium Management LLC now owns 193,388 shares of the construction company’s stock valued at $17,092,000 after purchasing an additional 129,534 shares in the last quarter. Goldman Sachs Group Inc. increased its position in United States Lime & Minerals by 33.6% in the first quarter. Goldman Sachs Group Inc. now owns 293,483 shares of the construction company’s stock worth $25,938,000 after purchasing an additional 73,891 shares during the last quarter. Jane Street Group LLC increased its position in United States Lime & Minerals by 67.3% in the first quarter. Jane Street Group LLC now owns 51,937 shares of the construction company’s stock worth $4,590,000 after purchasing an additional 20,893 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in United States Lime & Minerals by 281.5% during the second quarter. First Trust Advisors LP now owns 192,869 shares of the construction company’s stock valued at $19,248,000 after purchasing an additional 142,308 shares in the last quarter. 27.12% of the stock is owned by institutional investors.

United States Lime & Minerals Company Profile

United States Lime & Minerals, Inc (NASDAQ:USLM) is a producer and supplier of lime and limestone products in the United States. The company operates quarries and processing facilities across the country, specializing in the extraction and production of quicklime, hydrated lime, limestone aggregates and dolomite for use in steel manufacturing, construction, environmental remediation, agriculture and other industrial applications.

With a network of quarries concentrated in Florida and additional mining and distribution sites in other states, United States Lime & Minerals combines kiln operations and grinding plants to offer a comprehensive range of calcium‐ and magnesium‐based products.