United States Lime & Minerals (NASDAQ:USLM) Shares Climb 7.6% Following Dividend Announcement

United States Lime & Minerals, Inc. (NASDAQ:USLM)’s stock price was up 7.6% during trading on Monday following a dividend announcement from the company. The company traded as high as $118.90 and last traded at $120.1390. 41,660 shares traded hands during trading, a decline of 73% from the average session volume of 153,878 shares. The stock had previously closed at $111.61.

The newly announced dividend which will be paid on Friday, December 11th. Stockholders of record on Friday, November 20th will be paid a $0.06 dividend. 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 dividend payout ratio (DPR) is presently 5.17%.

Analyst Upgrades and Downgrades

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

United States Lime & Minerals Trading Up 7.7%

The company has a 50 day simple moving average of $112.73 and a 200 day simple moving average of $115.26. The stock has a market capitalization of $3.45 billion, a PE ratio of 26.13 and a beta of 0.66.

United States Lime & Minerals (NASDAQ:USLM) last posted its quarterly earnings data on Friday, October 30th. 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 35.08% and a return on equity of 20.18%.

Insider Activity

In related news, Director Antoine M. Doumet sold 20,000 shares of the stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $110.00, for a total transaction of $2,200,000.00. Following the completion of the transaction, the director directly owned 90,000 shares of the company’s stock, valued at $9,900,000. This represents a 18.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Holdings Ltd. Candou acquired 20,000 shares of United States Lime & Minerals stock in a transaction that occurred on Wednesday, September 9th. The stock was purchased at an average price of $110.00 per share, with a total value of $2,200,000.00. Following the transaction, the insider owned 17,673,780 shares of the company’s stock, valued at $1,944,115,800. This trade represents a 0.11% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Summit Wealth Group LLC Co. acquired a new position in United States Lime & Minerals during the third quarter worth about $818,000. Schwartz Investment Counsel Inc. raised its holdings in United States Lime & Minerals by 6.8% during the third quarter. Schwartz Investment Counsel Inc. now owns 21,493 shares of the construction company’s stock worth $2,431,000 after purchasing an additional 1,370 shares during the last quarter. Sterling Capital Management LLC boosted its position in United States Lime & Minerals by 833.3% during the third quarter. Sterling Capital Management LLC now owns 364 shares of the construction company’s stock worth $41,000 after purchasing an additional 325 shares in the last quarter. Cardinal Capital Management increased its position in shares of United States Lime & Minerals by 0.5% in the third quarter. Cardinal Capital Management now owns 44,780 shares of the construction company’s stock valued at $5,065,000 after buying an additional 204 shares in the last quarter. Finally, Vest Financial LLC increased its position in shares of United States Lime & Minerals by 53.7% in the third quarter. Vest Financial LLC now owns 51,198 shares of the construction company’s stock valued at $5,791,000 after buying an additional 17,891 shares in the last quarter. Institutional investors and hedge funds 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.