United States Lime & Minerals (NASDAQ:USLM) Issues Quarterly Earnings Results, Misses Expectations By $0.10 EPS

Key Points

• United States Lime & Minerals reported quarterly EPS of $1.20, missing the $1.30 analyst consensus by $0.10. Revenue also fell short at $99.13 million versus the $108.00 million estimate.
• The stock traded down $0.74 to $113.00, with a $3.24 billion market capitalization, a 24.89 price-to-earnings ratio and a 35.40% net margin.
• Institutional investors own 27.12% of the company, while Weiss Ratings downgraded the stock from “buy” to “hold”; the overall analyst consensus is Hold.

United States Lime & Minerals (NASDAQ:USLM - Get Free Report) announced its quarterly earnings data on Wednesday. The construction company reported $1.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.30 by ($0.10), FiscalAI reports. The firm had revenue of $99.13 million during the quarter, compared to the consensus estimate of $108.00 million. United States Lime & Minerals had a net margin of 35.40% and a return on equity of 21.28%.

United States Lime & Minerals Price Performance

NASDAQ:USLM traded down $0.74 during trading hours on Wednesday, hitting $113.00. The stock had a trading volume of 247,151 shares, compared to its average volume of 160,575. The company has a 50 day simple moving average of $107.01 and a two-hundred day simple moving average of $116.34. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 24.89 and a beta of 0.72. United States Lime & Minerals has a one year low of $94.76 and a one year high of $141.43.

Hedge Funds Weigh In On United States Lime & Minerals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in USLM. Amundi purchased a new stake in shares of United States Lime & Minerals in the 1st quarter valued at about $354,000. Millennium Management LLC lifted its position in United States Lime & Minerals by 202.9% during the first quarter. Millennium Management LLC now owns 193,388 shares of the construction company's stock valued at $17,092,000 after purchasing an additional 129,534 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of United States Lime & Minerals by 33.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 293,483 shares of the construction company's stock worth $25,938,000 after buying an additional 73,891 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of United States Lime & Minerals by 67.3% during the 1st quarter. Jane Street Group LLC now owns 51,937 shares of the construction company's stock worth $4,590,000 after acquiring an additional 20,893 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings 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 worth $19,248,000 after purchasing an additional 142,308 shares in the last quarter. 27.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded shares of United States Lime & Minerals from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, United States Lime & Minerals presently has a consensus rating of "Hold".

About United States Lime & Minerals

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.

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