BNP Paribas Arbitrage SA reduced its stake in shares of U.S. Silica Holdings, Inc. (NYSE:SLCA) by 40.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,858 shares of the mining company’s stock after selling 35,923 shares during the quarter. BNP Paribas Arbitrage SA owned about 0.07% of U.S. Silica worth $1,673,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Community Trust & Investment Co. increased its stake in U.S. Silica by 134.0% during the third quarter. Community Trust & Investment Co. now owns 303,283 shares of the mining company’s stock worth $9,423,000 after acquiring an additional 173,692 shares during the last quarter. Tygh Capital Management Inc. increased its stake in U.S. Silica by 359.0% during the third quarter. Tygh Capital Management Inc. now owns 173,137 shares of the mining company’s stock worth $5,379,000 after acquiring an additional 135,417 shares during the last quarter. Lincoln National Corp bought a new stake in U.S. Silica during the third quarter worth approximately $412,000. State Board of Administration of Florida Retirement System increased its stake in U.S. Silica by 12.1% during the third quarter. State Board of Administration of Florida Retirement System now owns 41,621 shares of the mining company’s stock worth $1,293,000 after acquiring an additional 4,500 shares during the last quarter. Finally, Dupont Capital Management Corp bought a new stake in U.S. Silica during the third quarter worth approximately $1,075,000.
Shares of U.S. Silica Holdings, Inc. (SLCA) traded up $0.19 during midday trading on Friday, hitting $34.37. The company had a trading volume of 470,814 shares, compared to its average volume of 2,244,479. The company has a quick ratio of 3.26, a current ratio of 3.67 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $2,791.81, a price-to-earnings ratio of 37.77 and a beta of 2.29. U.S. Silica Holdings, Inc. has a 12-month low of $24.26 and a 12-month high of $61.49.
U.S. Silica (NYSE:SLCA) last announced its quarterly earnings results on Monday, November 6th. The mining company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. The firm had revenue of $345.00 million during the quarter, compared to analyst estimates of $328.91 million. U.S. Silica had a return on equity of 5.73% and a net margin of 6.24%. U.S. Silica’s quarterly revenue was up 150.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.13) earnings per share. equities research analysts anticipate that U.S. Silica Holdings, Inc. will post 1.53 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 15th will be issued a $0.063 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.73%. U.S. Silica’s payout ratio is 31.25%.
U.S. Silica announced that its Board of Directors has initiated a share repurchase plan on Monday, November 6th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the mining company to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
A number of research firms have recently commented on SLCA. BidaskClub cut U.S. Silica from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $40.50 target price on shares of U.S. Silica in a research note on Friday, November 10th. Jefferies Group LLC set a $43.00 target price on U.S. Silica and gave the company a “buy” rating in a research note on Monday, November 13th. Barclays PLC reaffirmed an “equal weight” rating and set a $45.00 target price on shares of U.S. Silica in a research note on Wednesday, August 2nd. Finally, Cowen Inc cut their target price on U.S. Silica from $60.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 2nd. Three research analysts have rated the stock with a sell rating, one has given a hold rating and eighteen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $47.68.
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U.S. Silica Profile
U.S. Silica Holdings, Inc is a domestic producer of commercial silica, a specialized mineral that is an input into a range of end markets. The Company operates in two segments: Oil & Gas Proppants, and Industrial & Specialty Products. In the Oil & Gas Proppants segment, it serves the oil and gas recovery market providing fracturing sand, or frac sand, which is pumped down oil and natural gas wells to prop open rock fissures and manage the flow rate of natural gas and oil from the wells.
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