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

United States Lime & Minerals, Inc. (NASDAQ:USLM)’s stock price shot up 7.6% during trading on Monday after the company announced a dividend. The stock traded as high as $118.90 and last traded at $120.1390. Approximately 41,660 shares changed hands during mid-day 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. Shareholders of record on Friday, November 20th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Friday, November 20th. United States Lime & Minerals’s dividend payout ratio (DPR) is currently 5.17%.

Wall Street Analysts Forecast Growth

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

United States Lime & Minerals Trading Up 7.7%

The firm has a market cap of $3.45 billion, a PE ratio of 26.13 and a beta of 0.66. The firm’s 50 day simple moving average is $112.73 and its 200 day simple moving average is $115.26.

United States Lime & Minerals (NASDAQ:USLM) last released its quarterly earnings data on Friday, October 30th. The construction company reported $1.32 earnings per share (EPS) 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 the consensus estimate of $122.00 million. United States Lime & Minerals had a return on equity of 20.18% and a net margin of 35.08%.

Insider Activity

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of USLM. BlackRock Inc. purchased a new position in shares of United States Lime & Minerals in the 2nd quarter valued at about $174,390,000. First Trust Advisors LP raised its stake in United States Lime & Minerals by 85.0% in the 1st quarter. First Trust Advisors LP now owns 441,951 shares of the construction company’s stock valued at $57,723,000 after purchasing an additional 203,030 shares during the last quarter. State Street Corp grew its holdings in shares of United States Lime & Minerals by 78.1% during the second quarter. State Street Corp now owns 419,491 shares of the construction company’s stock worth $43,908,000 after buying an additional 183,902 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in shares of United States Lime & Minerals in the second quarter valued at approximately $17,782,000. Finally, Bank of New York Mellon Corp purchased a new position in United States Lime & Minerals in the second quarter worth approximately $9,593,000. 27.12% of the stock is currently owned by hedge funds and other institutional investors.

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.