Swiss National Bank has reduced its holdings in shares of United States Lime & Minerals, Inc. (NASDAQ: USLM) by 1.3% during the first quarter of 2023. According to the company’s recent filing with the Securities and Exchange Commission, the bank now owns 22,200 shares after selling 300 shares during this period. At the close of the quarter, this stake was valued at approximately $1,962,000, representing about 0.08% of the company’s total shares.
Several institutional investors have made significant adjustments to their positions in United States Lime & Minerals as well. Notably, Wells Fargo & Company increased its stake by 135.5% during the fourth quarter, acquiring an additional 4,597 shares to reach a total of 7,989 shares, valued at $1,061,000. Similarly, Legal & General Group Plc raised its holdings by 14.3%, now owning 11,926 shares worth $1,583,000. Other notable investors include Raymond James Financial Inc., which purchased a new stake valued at $3,612,000, and Barclays PLC, which boosted its stake by 6.6%, owning 22,928 shares worth $3,043,000.
Currently, approximately 27.12% of the company’s stock is held by hedge funds and other institutional investors.
Analyst Ratings and Company Performance
In terms of analyst ratings, Wall Street Zen downgraded United States Lime & Minerals from a “buy” to a “hold” rating on August 2, 2023.
As for its stock performance, shares opened at $121.52 on the trading day following the downgrade. The company boasts a market capitalization of $3.48 billion, with a price-to-earnings (P/E) ratio of 27.87 and a beta of 0.98. Over the past year, the stock has seen a low of $74.90 and a high of $159.53. The fifty-day moving average price stands at $106.13, while the 200-day moving average is at $99.90.
On July 30, 2023, United States Lime & Minerals reported its quarterly earnings, revealing earnings per share (EPS) of $1.07, which fell short of analysts’ expectations of $1.14 by $0.07. The firm generated revenue of $91.52 million, below the anticipated $101.00 million. The company achieved a return on equity of 24.24% and a net margin of 35.57%.
Dividend Announcement
In addition to these developments, United States Lime & Minerals has declared a quarterly dividend of $0.06, scheduled for payment on September 12, 2023. Shareholders of record as of August 22, 2023, will receive this dividend, which translates to an annualized payout of $0.24 and a dividend yield of 0.2%. The dividend payout ratio stands at 5.50%.
Founded in 1948 and headquartered in Dallas, Texas, United States Lime & Minerals, Inc. specializes in the manufacture and sale of lime and limestone products, including High Calcium Quicklime, Hydrated Lime, and Lime Slurry.
This recent activity reflects the dynamic nature of investment strategies among institutional shareholders and the ongoing adjustments within the market for construction materials.
