Positioning no disclosures inside 60 days, left as found
Options put/call open interest 1.42, read 2026-10-25
Ethical does not pass the values gate
Price111.71 USD
Fair value90.08
Ethical score70.0/100
Our investment reviews on this name
2026-10-26Read Accumulation106.59+4.8% to today ✓Markdown gives way to Accumulation after a 10% slide in 6 weeks
2026-09-16Read Markdown117.84-5.2% to today ✓Markup gives way to Markdown
2026-08-15Read Markup120.07-7.0% to today Distribution gives way to Markup after an 11% rise in 6 weeks
2026-07-02Read Distribution108.39+3.1% to today First review on file: Distribution
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
United States Lime & Minerals, Inc. holds its Accumulation at $111.71. The statistical read favours the sellers, held for 74 days.
As held on the ledger · 2026-10-23
Phase
Accumulation
Quantitative state
The statistical read favours the sellers, held for 74 days
Price at the screen
$111.71
Valuation
22.82 trailing · 18.70 forward price to earnings
Values screen
FAIL· score 70.0
Beta
0.65
The Workings
Five Screens, Shown in Full
Does not pass. Accounts receivable
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
0.59%
Below 33%
Interest-bearing debt is just 0.6% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
61.53%
Below 49%
Money owed to the company is 61.5% of assets, above the 49% limit.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
United States Lime & Minerals,'s business is fine, but its receivables are about 62% of its assets, well over the ~49% line, so it does not pass on the financial screens.
Read as at 2026-10-28. It updates when the underlying figures move, and past reads are kept below.
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Today USLM does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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Fair value range in USD, drawn from the 2026-10-23 screen. The gold marker is the market price at the same screen. The price runs 19.4% above the base estimate.
Reading the gap · Our more conservative model reads it as fully-to-richly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-10-23 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Lime Maker Looks Steady But Trades Well Above Value
Picture a quarry feeding concrete and steel projects across America. United States Lime & Minerals turns rock into quicklime and limestone products that builders need, yet revenue is already falling four percent and the shares sit fifteen percent above our fair value. Forward earnings sit at eighteen times while the single analyst target floats higher still, but this is a classic cyclical setup where today's margins of thirty five percent and return on equity of twenty two percent can shrink fast once construction slows.
We pass because the business carries no obvious moat and sits squarely in a sector prone to boom and bust. Peak profits often arrive with low multiples that later prove expensive once volumes drop, and here the multiple is not even low. Ethical checks clear, yet the combination of declining top line and stretched valuation leaves no margin for error.
Risk sits in the economic cycle itself. Any slowdown in building activity hits volumes and pricing quickly, and unknown competitive defences offer little protection when demand fades. Analysis, not advice.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
USLM trades on Nasdaq. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-28Accumulation$106.59+0.0%Entry 15
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 4%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (1 analysts) rates it none, with a mean price target of $138. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-27Accumulation$106.59+0.0%Entry 14
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 4%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (1 analysts) rates it none, with a mean price target of $138. It reported earnings in this window, a natural checkpoint for the thesis.
The framework has shifted from markdown to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 4%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (1 analysts) rates it none, with a mean price target of $138. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-25Markdown$106.59+0.0%Entry 12
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are up 4%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (1 analysts) rates it none, with a mean price target of $138. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-24Markdown$106.59+0.0%Entry 11
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are up 4%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (1 analysts) rates it none, with a mean price target of $138. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-23Markdown$106.59+0.0%Entry 10
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are up 4%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (1 analysts) rates it none, with a mean price target of $138. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-22Markdown$106.59+1.6%Entry 9
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 1.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are up 4%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (1 analysts) rates it none, with a mean price target of $138. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-21Markdown$104.88+0.0%Entry 8
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are up 4%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (1 analysts) rates it none, with a mean price target of $138. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-18Markdown$104.88-7.6%Entry 7
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 7.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 4%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (1 analysts) rates it none, with a mean price target of $138.
2026-10-02Markdown$113.50-3.7%Entry 6
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 3.7% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 4%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (1 analysts) rates it none, with a mean price target of $138.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
