United States Lime & Minerals, (USLM) Stock Price & How to Invest
Last updated July 2026
Short answer
You can invest in United States Lime & Minerals (USLM) by buying shares or fractional shares at any major broker, or as one holding in a materials or industrials basket. USLM is a debt-light, high-margin producer of lime and limestone products serving steel, construction, environmental, and oil and gas markets, and it trades like a steady, cash-generative industrial rather than a fast grower. The stock is illiquid with a low float, so it can move sharply on small volume.
USLM stock price
As of 2026-07-23, United States Lime & Minerals, (USLM) last closed at $106.49, down 0.9% over the past year. Over the past 52 weeks it has traded between $97.49 and $139.46.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or United States Lime & Minerals, 's investor relations page. Walnut is informational, not investment advice.
What does United States Lime & Minerals, (USLM) do?
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 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.
What's driving United States Lime & Minerals, (USLM)?
1. 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 heavy, low-value-to-weight nature of lime limits how far competitors can economically ship into USLM's regional markets, which supports pricing. That combination has driven strong gross profit even in years of modest volume growth.
2. Fortress balance sheet and capital returns.
The company operates with little or no debt and a large cash position, funding expansion internally. It pays a regular quarterly dividend and has periodically issued special dividends and repurchased shares. This conservative financial posture lets it invest through cycles without leverage risk, though the reinvestment pace can be lumpy.
3. Diversified industrial end markets.
USLM sells into steel, construction, environmental and water treatment, oil and gas, roof shingle, and agriculture customers. When one market weakens, another can offset it: in early 2026 stronger steel demand partly cushioned softer construction, oil and gas, and roof shingle volumes. Environmental and water treatment demand tends to be steadier than construction.
4. Long-lived quarry reserves.
The company owns its limestone reserves, a scarce and permit-intensive asset base that is difficult for new entrants to replicate. Owned quarries near established customers create a durable cost and logistics advantage that underpins the franchise over long horizons.
What are the risks to United States Lime & Minerals, (USLM)?
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%. 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. Consolidation among larger rivals, such as Martin Marietta's planned combination with Lhoist North America, could reshape the competitive landscape, and the premium valuation leaves little room for disappointment.
How is United States Lime & Minerals, (USLM) valued? (approximate, July 2026)
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 (FY2025): ~$372.7 million, up ~17% year over year
- Revenue (Q1 2026): ~$87.8 million, down ~3.7% year over year
- Net income (Q1 2026): ~$30.6 million
- Diluted EPS (Q1 2026): ~$1.06
- Market cap: ~$3.1 billion
- P/E (TTM): ~23x
- Dividend: ~$0.06 per share quarterly, yield ~0.2%
USLM grew revenue strongly in 2025 on higher volumes and pricing, then saw a modest first-quarter 2026 pullback as construction, oil and gas, and roof shingle demand softened while steel demand held firm. The valuation, roughly 23 times earnings and about 8 times sales, is rich for a materials company and reflects the market's regard for its margins and balance sheet. The token dividend understates capital returns, since the company has historically paid special dividends on top of the regular payout.
Who competes with United States Lime & Minerals, (USLM)?
Dedicated lime producers
Lhoist (Lhoist North America), Carmeuse Lime & Stone, and Graymont are large, mostly privately held lime manufacturers that compete with USLM in steel, water treatment, and environmental markets across overlapping regions. Martin Marietta's announced combination with Lhoist North America would fold a major lime rival into a public aggregates giant.
Aggregates and limestone majors
Martin Marietta Materials (MLM) and Vulcan Materials (VMC) are large public producers of crushed limestone and aggregates. They are not primarily lime producers, but they compete with USLM in the limestone aggregates portion of its business and set the tone for construction-materials demand.
Regional quarry operators
Numerous smaller regional limestone and aggregate quarry operators compete for construction and industrial customers within local delivery radii, where transportation cost is the key competitive factor rather than national scale.
How to invest in United States Lime & Minerals, (USLM)
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 basket, so USLM sits alongside other stocks that express the same thesis.
Walnut takes the basket 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.
The bottom line on United States Lime & Minerals, (USLM)
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.
More on United States Lime & Minerals, (USLM)
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?, 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?
Build a basket around USLM with Walnut
Use United States Lime & Minerals, as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
What does United States Lime & Minerals do?
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USLM mines limestone at its own quarries and processes it into lime and limestone products including quicklime, hydrated lime, lime slurry, pulverized and crushed limestone, and aggregate. It sells to steel, construction, environmental, oil and gas, roof shingle, and agriculture customers, mainly across the south-central United States.
Is USLM profitable?
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Yes. USLM is consistently profitable with operating margins that have topped 30% in recent years. It reported about $372.7 million in revenue for full-year 2025 and roughly $30.6 million in net income in the first quarter of 2026, with earnings per share around $1.06 for that quarter.
Does USLM pay a dividend?
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Yes, USLM pays a small regular quarterly cash dividend, recently about $0.06 per share, for a yield near 0.2%. The regular yield is modest, but the company has historically supplemented it with periodic special dividends thanks to its strong cash generation and low debt.
How large is USLM?
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USLM is a small-cap company with a market capitalization of roughly $3.1 billion as of mid-2026. It has a relatively small share float and limited daily trading volume, which can make the stock more volatile than its steady operating business would imply.
Who are USLM's competitors?
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In lime it competes with privately held producers such as Lhoist, Carmeuse, and Graymont. In limestone aggregates it overlaps with public majors Martin Marietta (MLM) and Vulcan Materials (VMC), plus many smaller regional quarry operators that compete within local delivery ranges.
What are the main risks of investing in USLM?
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Key risks include cyclical demand tied to construction, industrial, and energy activity, exposure to fuel and transportation costs, geographic concentration in a few states, low stock liquidity that amplifies price swings, industry consolidation among rivals, and a premium valuation that leaves little margin for earnings disappointment.
Why did USLM revenue decline in early 2026?
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First-quarter 2026 revenue fell about 3.7% to roughly $87.8 million, driven mainly by lower sales volumes from construction, oil and gas services, and roof shingle customers. Increased demand from steel customers partly offset the softness, and higher fuel and transportation costs pressured gross profit.
How can I invest in USLM?
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USLM trades on the Nasdaq and can be bought as whole or fractional shares through any major brokerage, or held as one position inside a materials or industrials themed basket. Given its low float and thin liquidity, some investors use limit orders. Walnut is not an investment adviser, so any position sizing decision is your own.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with United States Lime & Minerals, 's investor relations page or your broker before making investment decisions.