United States Lime & Minerals, (USLM) Stock Price & How to Invest

United States Lime & Minerals (USLM) is a Dallas, Texas based producer of lime and limestone products, mining high-calcium and dolomitic limestone at its own quarries and processing it into crushed and pulverized limestone, aggregate, quicklime, hydrated lime, and lime slurry. Its plants sit mainly in Texas, Arkansas, Oklahoma, Louisiana, and Colorado, giving it a defensible position in the south-central United States. End markets span steel manufacturing, construction (highways, roads, and buildings), municipal water and wastewater treatment, environmental and flue gas treatment, oil and gas services, roof shingle manufacturing, and agriculture. Because lime is heavy and costly to ship, quarries near their customers enjoy a natural regional moat.

The investment picture is that of a well-run, small-cap industrial. USLM carries little to no debt, generates operating margins that have consistently topped 30%, and pays a small but steady dividend. Revenue grew strongly through 2025 on higher volumes and pricing, then softened in early 2026 as construction, oil and gas, and roof shingle demand cooled while steel demand held up. The second quarter, reported July 29, 2026, swung back: revenue rose ~8.3% to ~$99.1 million and net income ~11.9% to ~$34.5 million (~$1.20 per diluted share) on higher construction and steel volumes, though EPS fell short of a ~$1.30 estimate. Management pointed to data center projects as a source of continuing construction demand and expected a new kiln at its Texas facility to come online during the summer. The shares command a premium valuation for a materials name and trade with limited liquidity, so results and sentiment can swing the price more than the underlying business would suggest. At ~$107 on October 16, 2026, the stock was down ~11% in 2026, and the third quarter report is expected around October 28, 2026, with a consensus of ~$1.48 of EPS on ~$122 million of revenue.

Demand is cyclical and tied to construction, industrial production, and energy activity, so a downturn in any of those pressures volumes, as seen in the first quarter of 2026 when revenue fell about 3.7%. Earnings have also landed below estimates in each of the last three reported quarters, though with only one analyst publishing a target the consensus is thin. Fuel, energy, and transportation costs are major inputs and can compress margins when they rise. Geographic concentration in a handful of south-central states leaves the company exposed to regional weather and economic swings. The stock has a small float and low trading liquidity, which amplifies price moves; an insider sale of about ~$2.2 million disclosed in September 2026 drew attention for that reason. Consolidation among larger rivals, such as Martin Marietta's planned combination with Lhoist North America, could reshape the competitive field, and the premium valuation leaves little room for disappointment.

We give no verdict on United States Lime & Minerals,. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. Pricing power and high margins. USLM has repeatedly pushed through selling-price increases and sustained operating margins above 30%, unusual for a commodity materials producer.

The case against. Demand is cyclical and tied to construction, industrial production, and energy activity, so a downturn in any of those pressures volumes, as seen in the first quarter of 2026 when revenue fell about 3.7%.

Read the full bull and bear case on USLM, including what would have to change to break either one. Walnut is not an investment adviser.

Yes. United States Lime & Minerals, (USLM) has had one share split in the last 10 years:

• 5:1 on July 15, 2024, so every share held became 5 shares.

A split changes the share count and the price per share and leaves the value of a holding unchanged. Someone holding $1,000 of USLM the day before the 5:1 split held $1,000 the day after, in more shares at a proportionally lower price. Historical prices from before the date are normally shown split-adjusted, which is why a long-run chart shows no cliff.

Splits matter mainly because they make older price figures confusing to compare by hand, and because a board choosing to split is usually signalling that the price has run up far enough to feel awkward for smaller buyers. Neither is a reason to buy or sell.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see United States Lime & Minerals,'s investor relations page or your broker.

• Revenue (TTM): ~$377 million
• Revenue (Q2 2026): ~$99.1 million, up ~8.3% year over year
• Net income (TTM): ~$134 million (~36% net margin)
• Diluted EPS (Q2 2026): ~$1.20 vs ~$1.30 estimate
• Operating margin: ~41%
• Market cap: ~$3.1 billion
• P/E (trailing / forward): ~23x / ~19x
• Dividend: ~$0.06 per share quarterly, yield ~0.2%

At ~$107 the stock trades near 23 times trailing earnings of ~$4.67, about 19 times the ~$5.70 analysts expect for 2027, and about 8 times sales, still rich for a materials company and a reflection of its ~41% operating margin and ~$403 million cash pile against almost no debt. The multiple has compressed as the share price fell ~19% over the past year while earnings kept rising. The token dividend understates capital returns, since the company has historically paid special dividends on top of the regular payout.

Other names that sit close to USLM: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get USLM exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so USLM sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where USLM fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

USLM is a niche, financially conservative lime and limestone producer with strong margins and a fortress balance sheet, whose demand tracks industrial and construction cycles and whose share price carries a premium multiple against a thin float. Sales returned to growth in the second quarter of 2026, but earnings have missed the (thinly covered) consensus three quarters running, and the stock has given back about a fifth of its value over the past year.

Whether USLM is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is USLM a buy or a sell?, and where the stock could go from here in the USLM stock forecast.

For income investors, whether USLM pays a dividend and how the payout looks is covered in does USLM pay a dividend? And to weigh USLM against a peer, read the full side-by-side comparisons: USLM vs LIME and USLM vs MLM.