R. F. Lafferty began coverage on shares of U.S. Silica (NYSE:SLCA) in a report published on Wednesday, MarketBeat Ratings reports. The firm issued a buy rating and a $52.00 price target on the mining company’s stock.
A number of other brokerages also recently issued reports on SLCA. BidaskClub upgraded U.S. Silica from a hold rating to a buy rating in a research report on Friday, November 3rd. Royal Bank of Canada set a $44.00 target price on U.S. Silica and gave the stock a buy rating in a research note on Thursday, December 21st. Cowen set a $45.00 target price on U.S. Silica and gave the stock a buy rating in a research note on Thursday, January 11th. SunTrust Banks reiterated a buy rating and issued a $43.00 target price (up previously from $35.00) on shares of U.S. Silica in a research note on Thursday, September 28th. Finally, B. Riley assumed coverage on U.S. Silica in a research note on Wednesday, December 6th. They issued a buy rating and a $40.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty have given a buy rating to the stock. U.S. Silica has an average rating of Buy and an average target price of $48.76.
Shares of U.S. Silica (SLCA) traded up $0.03 on Wednesday, reaching $36.28. The company had a trading volume of 1,060,000 shares, compared to its average volume of 2,220,000. The company has a market capitalization of $2,950.00, a P/E ratio of 45.35 and a beta of 2.33. U.S. Silica has a 12 month low of $24.26 and a 12 month high of $61.49. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.26 and a current ratio of 3.67.
U.S. Silica (NYSE:SLCA) last issued its quarterly earnings results on Monday, November 6th. The mining company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.02. The company had revenue of $345.00 million during the quarter, compared to the consensus estimate 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 revenue was up 150.5% on a year-over-year basis. During the same period last year, the company earned ($0.13) earnings per share. sell-side analysts anticipate that U.S. Silica will post 1.51 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, January 5th. Stockholders of record on Friday, December 15th were paid a dividend of $0.063 per share. The ex-dividend date was Thursday, December 14th. This represents a $0.25 annualized dividend and a dividend yield of 0.69%. U.S. Silica’s dividend payout ratio is currently 31.25%.
U.S. Silica declared that its Board of Directors has approved a stock repurchase plan on Monday, November 6th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the mining company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.
In other news, Director Charles W. Shaver purchased 3,300 shares of the business’s stock in a transaction dated Tuesday, December 12th. The shares were purchased at an average price of $33.99 per share, for a total transaction of $112,167.00. Following the completion of the purchase, the director now owns 29,829 shares in the company, valued at approximately $1,013,887.71. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Bryan Adair Shinn purchased 4,000 shares of the business’s stock in a transaction dated Wednesday, December 20th. The shares were purchased at an average price of $31.30 per share, for a total transaction of $125,200.00. Following the purchase, the chief executive officer now owns 88,807 shares of the company’s stock, valued at approximately $2,779,659.10. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 7,900 shares of company stock worth $256,063. Insiders own 1.00% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Riverhead Capital Management LLC increased its stake in shares of U.S. Silica by 69.0% during the second quarter. Riverhead Capital Management LLC now owns 4,226 shares of the mining company’s stock valued at $150,000 after buying an additional 1,726 shares during the period. QS Investors LLC increased its stake in shares of U.S. Silica by 0.3% during the second quarter. QS Investors LLC now owns 6,128 shares of the mining company’s stock valued at $217,000 after buying an additional 18 shares during the period. Sentry Investment Management LLC purchased a new position in shares of U.S. Silica during the second quarter valued at $221,000. Verde Servicos Internacionais S.A. purchased a new position in shares of U.S. Silica during the third quarter valued at $201,000. Finally, Ameritas Investment Partners Inc. increased its stake in shares of U.S. Silica by 13.3% during the second quarter. Ameritas Investment Partners Inc. now owns 7,172 shares of the mining company’s stock valued at $255,000 after buying an additional 843 shares during the period.
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About U.S. Silica
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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