The Swiss National Bank has reduced its holdings in United States Lime & Minerals, Inc. (NASDAQ: USLM) by 1.3% during the first quarter of 2024. In its latest filing with the Securities and Exchange Commission, the bank reported ownership of 22,200 shares following the sale of 300 shares during this period. This reduction leaves the Swiss National Bank with approximately 0.08% of United States Lime & Minerals, valued at about $1,962,000.
Several other institutional investors have also adjusted their stakes in the company. Notably, Wells Fargo & Company increased its holding by 135.5% during the fourth quarter of 2023, bringing its total to 7,989 shares, valued at $1,061,000 after purchasing an additional 4,597 shares. Similarly, Legal & General Group Plc raised its stake by 14.3%, acquiring 1,492 shares to reach a total of 11,926 shares, valued at $1,583,000.
Additionally, Raymond James Financial Inc. entered the market with a new stake valued at $3,612,000, while Barclays PLC increased its holding by 6.6%, now owning 22,928 shares worth $3,043,000. Another new participant, XTX Topco Ltd, purchased a stake valued at $237,000. Collectively, hedge funds and institutional investors now own 27.12% of the company’s stock.
Analyst Ratings and Stock Performance
In a recent development, Wall Street Zen downgraded United States Lime & Minerals from a “buy” to a “hold” rating on August 2, 2024. This change reflects the ongoing evaluation of the company’s performance in a competitive market.
On the trading front, USLM opened at $121.52 on Friday, reflecting a market capitalization of $3.48 billion. The company’s price-to-earnings ratio stands at 27.87 with a beta of 0.98. Over the past year, the stock has fluctuated between a low of $74.90 and a high of $159.53. The fifty-day moving average price is $106.13, while the 200-day moving average price is $99.90.
United States Lime & Minerals recently reported its quarterly earnings on July 30, 2024. The company posted earnings per share (EPS) of $1.07, which fell short of analysts’ consensus estimates of $1.14 by $0.07. The firm generated revenue of $91.52 million, compared to analysts’ expectations of $101.00 million. The company recorded a return on equity of 24.24% and a net margin of 35.57%.
Dividend Announcement
In addition to its financial performance, United States Lime & Minerals has declared a quarterly dividend of $0.06, set to be paid on September 12, 2024. Shareholders of record as of August 22, 2024 will receive this dividend, which translates to an annualized total of $0.24 and a dividend yield of 0.2%. The company’s dividend payout ratio is currently 5.50%.
Founded in 1948 and headquartered in Dallas, TX, United States Lime & Minerals specializes in the manufacture and sale of lime and limestone products. Its offerings include High Calcium Quicklime, Hydrated Lime, Lime Kiln Dust, Lime Slurry, and High Calcium Limestone.
As the company navigates a competitive landscape, the adjustments by institutional investors and analysts’ ratings will likely influence its trajectory in the coming quarters.