United States Lime & Minerals (NASDAQ:USLM) Shares Down 8.8% on Disappointing Earnings

Key Points

• United States Lime & Minerals Inc. saw its share price drop 8.8% to around $101.74 after reporting disappointing quarterly earnings, missing EPS estimates by $0.07 and revenue expectations by $9.48 million.
• Despite the earnings setback, Wall Street Zen upgraded the company’s stock rating from "hold" to "buy" prior to the earnings announcement.
• Several institutional investors have recently increased their holdings in United States Lime & Minerals, with Vanguard Group Inc. raising its stake by 13.2% in the first quarter.

United States Lime & Minerals, Inc. (NASDAQ:USLM - Get Free Report)'s share price was down 8.8% on Thursday following a weaker than expected earnings announcement. The company traded as low as $99.99 and last traded at $101.74. Approximately 133,069 shares traded hands during trading, an increase of 5% from the average daily volume of 127,171 shares. The stock had previously closed at $111.50.

The construction company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.07). The company had revenue of $91.52 million during the quarter, compared to analyst estimates of $101.00 million. United States Lime & Minerals had a net margin of 35.57% and a return on equity of 24.99%.

United States Lime & Minerals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $0.24 annualized dividend and a yield of 0.2%. United States Lime & Minerals's dividend payout ratio is currently 5.50%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of United States Lime & Minerals from a "buy" rating to a "hold" rating in a report on Saturday.

Institutional Trading of United States Lime & Minerals

Several institutional investors have recently added to or reduced their stakes in the stock. Y Intercept Hong Kong Ltd acquired a new stake in United States Lime & Minerals in the second quarter valued at $1,070,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in United States Lime & Minerals in the second quarter valued at $309,000. William Blair Investment Management LLC raised its holdings in United States Lime & Minerals by 24.5% in the second quarter. William Blair Investment Management LLC now owns 357,690 shares of the construction company's stock valued at $35,697,000 after acquiring an additional 70,457 shares in the last quarter. Cannon Global Investment Management LLC acquired a new stake in United States Lime & Minerals in the second quarter valued at $250,000. Finally, Vest Financial LLC bought a new stake in United States Lime & Minerals during the second quarter valued at $1,061,000. 27.12% of the stock is owned by institutional investors and hedge funds.

United States Lime & Minerals Stock Up 1.0%

The firm's 50 day simple moving average is $102.81 and its two-hundred day simple moving average is $99.93. The stock has a market cap of $2.86 billion, a P/E ratio of 22.92 and a beta of 0.98.

About United States Lime & Minerals

United States Lime & Minerals, Inc engages in the manufacture and sale of lime and limestone products. Its products include High Calcium Quicklime, Hydrated Lime, Lime Kiln Dust, Lime Slurry, and High Calcium Limestone. The company was founded in 1948 and is headquartered in Dallas, TX.