United States Lime & Minerals (NASDAQ:USLM) Shares Down 13.7% After Earnings Miss

United States Lime & Minerals, Inc. (NASDAQ:USLM)’s stock price dropped 13.7% during trading on Thursday following a weaker than expected earnings announcement. The company traded as low as $105.88 and last traded at $110.7040. Approximately 32,261 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 115,085 shares. The stock had previously closed at $128.24.

The construction company reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.14). The business had revenue of $87.83 million for the quarter, compared to analysts’ expectations of $102.00 million. United States Lime & Minerals had a return on equity of 23.07% and a net margin of 36.03%.

United States Lime & Minerals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 22nd will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, May 22nd. United States Lime & Minerals’s dividend payout ratio is 5.14%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On United States Lime & Minerals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Amundi acquired a new stake in shares of United States Lime & Minerals during the 1st quarter worth approximately $354,000. Millennium Management LLC grew its holdings in shares of United States Lime & Minerals by 202.9% during the 1st quarter. Millennium Management LLC now owns 193,388 shares of the construction company’s stock worth $17,092,000 after purchasing an additional 129,534 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in United States Lime & Minerals by 33.6% during 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 period. Jane Street Group LLC boosted its holdings in United States Lime & Minerals by 67.3% during the first quarter. Jane Street Group LLC now owns 51,937 shares of the construction company’s stock valued at $4,590,000 after purchasing an additional 20,893 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in shares of United States Lime & Minerals by 281.5% in the 2nd 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 during the period. 27.12% of the stock is currently owned by institutional investors.

United States Lime & Minerals Stock Performance

The company has a market capitalization of $3.12 billion, a P/E ratio of 23.08 and a beta of 0.92. The firm has a 50 day moving average price of $125.53 and a two-hundred day moving average price of $123.62.

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.