Summit Wealth Group LLC Co. Buys New Shares in United States Lime & Minerals, Inc. $USLM

Summit Wealth Group LLC Co. purchased a new stake in United States Lime & Minerals, Inc. (NASDAQ:USLM) in the 3rd quarter, according to its most recent filing with the SEC. The fund purchased 7,233 shares of the construction company’s stock, valued at approximately $818,000.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of United States Lime & Minerals in the second quarter valued at $174,390,000. First Trust Advisors LP lifted its position in United States Lime & Minerals by 85.0% during the first quarter. First Trust Advisors LP now owns 441,951 shares of the construction company’s stock worth $57,723,000 after buying an additional 203,030 shares during the period. State Street Corp boosted its stake in United States Lime & Minerals by 78.1% in the 2nd quarter. State Street Corp now owns 419,491 shares of the construction company’s stock worth $43,908,000 after buying an additional 183,902 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in United States Lime & Minerals in the 2nd quarter worth about $17,782,000. Finally, Bank of New York Mellon Corp acquired a new stake in United States Lime & Minerals in the 2nd quarter worth about $9,593,000. Institutional investors and hedge funds own 27.12% of the company’s stock.

Insider Transactions at United States Lime & Minerals

In related news, Director Antoine M. Doumet sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $110.00, for a total value of $2,200,000.00. Following the transaction, the director owned 90,000 shares in the company, valued at approximately $9,900,000. This trade represents a 18.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Holdings Ltd. Candou purchased 20,000 shares of United States Lime & Minerals stock in a transaction on Wednesday, September 9th. The shares were acquired at an average cost of $110.00 per share, for a total transaction of $2,200,000.00. Following the completion of the transaction, the insider owned 17,673,780 shares of the company’s stock, valued at $1,944,115,800. This represents a 0.11% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.50% of the stock is currently owned by insiders.

United States Lime & Minerals Trading Up 1.7%

Shares of USLM opened at $121.04 on Wednesday. United States Lime & Minerals, Inc. has a twelve month low of $96.27 and a twelve month high of $141.43. The firm has a market capitalization of $3.47 billion, a P/E ratio of 25.64 and a beta of 0.69. The stock’s fifty day simple moving average is $112.73 and its 200 day simple moving average is $115.16.

United States Lime & Minerals (NASDAQ:USLM) last posted its quarterly earnings results on Friday, October 30th. The construction company reported $1.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.16). The firm had revenue of $106.19 million for the quarter, compared to analysts’ expectations of $122.00 million. United States Lime & Minerals had a net margin of 35.08% and a return on equity of 19.65%.

United States Lime & Minerals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 20th will be issued a dividend of $0.06 per share. The ex-dividend date is Friday, November 20th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.2%. United States Lime & Minerals’s payout ratio is presently 5.17%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on USLM shares. Freedom Broker dropped their price objective on shares of United States Lime & Minerals from $132.00 to $131.00 and set a “buy” rating for the company in a research note on Monday. Weiss Ratings raised shares of United States Lime & Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 9th. Two analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $131.00.

United States Lime & Minerals Profile

United States Lime & Minerals, Inc is a producer of lime and limestone products used in construction, industrial processing, environmental applications and other commercial activities. The company operates through its Lime and Limestone Operations segments.

Its product portfolio includes quicklime, hydrated lime and various crushed limestone and aggregate products. These materials are used in applications such as road construction, concrete and asphalt production, water and wastewater treatment, flue-gas treatment, steel manufacturing and other industrial processes.

Founded in 1948, United States Lime & Minerals serves customers primarily in Texas and surrounding regions, with production and distribution activities focused on the south-central United States.