Producer
United States Lime & Minerals, Inc.
U.S. producer of lime and limestone products (high-calcium, dolomitic) for construction, industrial and environmental markets.
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Lime Products
85%Natural Limestone Products
15%
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Did you know2024
USLM's Texas lime operations simultaneously supply lime for three distinct industries that are co-located in Texas: (1) Texas residential and commercial construction (the fastest-growing US construction market, with lime needed for soil stabilization, masonry, and concrete); (2) Permian Basin oil and gas produced water treatment (fracking operations generate large volumes of high-salinity, sometimes radioactive produced water requiring lime treatment to remove heavy metals and adjust pH before disposal or recycling); and (3) Gulf Coast chemical and petrochemical environmental compliance (wastewater neutralization, flue gas scrubbing). USLM's Clifton and Joshua, Texas plants sit equidistant from the Dallas-Fort Worth construction boom, the Permian Basin oil fields to the west, and the Gulf Coast petrochemical complex to the southeast. A production outage at USLM's Texas facilities would simultaneously disrupt construction material supply, oil field water management, and petrochemical environmental compliance across the Texas industrial complex.
United States Lime & Minerals / SEC EDGAR ↗Concentration2024
The US lime industry has consolidated significantly — but unlike the US cement industry (which consolidated into European-owned giants), lime has retained meaningful domestic ownership. US Lime & Minerals, Martin Marietta Magnesia Specialties (a subsidiary of Martin Marietta Materials, the US aggregates company), and Mississippi Lime (a private US company) represent the domestically-owned tier of US lime production, alongside the US operations of foreign-owned Lhoist, Carmeuse, and Graymont. Texas and the US Southeast have particularly strong domestic-ownership lime production, which matters for government procurement specifications that prefer or require domestic sourcing. Texas state highway and water infrastructure contracts often favor Texas-sourced materials, and USLM's Texas quarries are the local supply for projects where "Buy American" or regional sourcing requirements apply.
United States Lime & Minerals, Inc. ↗Origin2024
United States Lime & Minerals is notable in the lime industry for being publicly traded — rare among lime producers, most of which are either subsidiaries of foreign multinationals (Holcim, Buzzi) or private family companies (Lhoist, Carmeuse, Graymont). USLM listed on NASDAQ in 1987 and has remained a pure-play US lime company without private equity or foreign ownership. This independent domestic ownership status has made USLM a popular investment vehicle for investors seeking exposure to US infrastructure spending cycles: lime demand tracks construction, water infrastructure investment, and industrial activity, making USLM a de facto proxy for US domestic industrial and construction activity. The company's stock is sometimes referred to as a "picks and shovels" industrial play, as lime is required for both building (construction lime) and the environmental compliance of industrial operations (flue gas, wastewater). USLM's share price nearly quadrupled between 2019 and 2023 as US construction activity surged.
United States Lime & Minerals, Inc. ↗