The 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 2024. 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. This stake represents approximately 0.08% of United States Lime & Minerals, valued at about $1,962,000 at the end of March.
The changes in Swiss National Bank’s investment reflect a broader trend among institutional investors. For instance, Wells Fargo & Company boosted its stake in United States Lime & Minerals by an impressive 135.5% during the fourth quarter of 2023. The financial institution now holds 7,989 shares of the construction company, valued at $1,061,000 after acquiring an additional 4,597 shares.
Other institutional investors have also made notable adjustments. Legal & General Group Plc increased its stake by 14.3%, owning 11,926 shares worth $1,583,000 after adding 1,492 shares. Raymond James Financial Inc. entered the scene with a new stake valued at $3,612,000. Barclays PLC also raised its stake by 6.6%, now holding 22,928 shares valued at $3,043,000 after purchasing an additional 1,416 shares. Lastly, XTX Topco Ltd acquired a new stake valued at $237,000. Currently, hedge funds and other institutional investors own 27.12% of the company’s stock.
Recent Analyst Ratings and Stock Performance
In addition to the changes in institutional holdings, analyst ratings for United States Lime & Minerals have also shifted. Wall Street Zen downgraded the company from a “buy” rating to a “hold” rating in a research note published on August 2, 2024.
The stock opened at $121.52 on the last trading day, with a market capitalization of $3.48 billion, a price-to-earnings (P/E) ratio of 27.87, and a beta of 0.98. Over the past year, United States Lime & Minerals has seen fluctuations in its stock price, with a low of $74.90 and a high of $159.53. The stock’s fifty-day moving average price is $106.13, while its 200-day moving average price stands at $99.90.
The company recently announced its quarterly earnings results, revealing earnings per share (EPS) of $1.07, which fell short of analysts’ consensus estimates of $1.14 by $0.07. Revenue for the quarter was reported at $91.52 million, compared to expectations of $101.00 million. The firm achieved a return on equity of 24.24% and a net margin of 35.57%.
Dividend Announcement and Company Information
United States Lime & Minerals has also declared a quarterly dividend of $0.06 per share, which will be paid on September 12, 2024. Shareholders of record on August 22, 2024, will receive this payment, translating to an annualized dividend of $0.24 and a dividend yield of 0.2%. The company’s dividend payout ratio (DPR) is currently 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. Its offerings include High Calcium Quicklime, Hydrated Lime, Lime Kiln Dust, Lime Slurry, and High Calcium Limestone.
As the market continues to evolve, investors will be watching closely to see how United States Lime & Minerals adapts to changing conditions and what further actions institutional investors may take in the coming quarters.
