Clear Harbor Asset Management LLC grew its position in Hi-Crush Partners LP (NYSE:HCLP) by 69.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 796,137 shares of the basic materials company’s stock after acquiring an additional 326,414 shares during the quarter. Hi-Crush Partners comprises about 1.5% of Clear Harbor Asset Management LLC’s portfolio, making the stock its 12th largest position. Clear Harbor Asset Management LLC owned 0.87% of Hi-Crush Partners worth $7,563,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Strid Group LLC bought a new position in shares of Hi-Crush Partners in the second quarter worth about $109,000. S. Muoio & CO. LLC bought a new position in shares of Hi-Crush Partners in the second quarter worth about $111,000. Bank of New York Mellon Corp bought a new position in shares of Hi-Crush Partners in the first quarter worth about $209,000. NEXT Financial Group Inc grew its holdings in shares of Hi-Crush Partners by 761.9% in the second quarter. NEXT Financial Group Inc now owns 13,575 shares of the basic materials company’s stock worth $147,000 after purchasing an additional 12,000 shares during the last quarter. Finally, Pinnacle Associates Ltd. bought a new position in Hi-Crush Partners during the 2nd quarter worth about $157,000. 50.16% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have issued reports on HCLP. Piper Jaffray Companies set a $12.00 target price on shares of Hi-Crush Partners and gave the stock a “buy” rating in a report on Tuesday, October 31st. Credit Suisse Group lowered their price target on shares of Hi-Crush Partners from $24.00 to $12.00 and set an “outperform” rating on the stock in a report on Thursday, July 20th. Zacks Investment Research cut shares of Hi-Crush Partners from a “hold” rating to a “sell” rating in a report on Wednesday. BidaskClub upgraded shares of Hi-Crush Partners from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. Finally, TheStreet raised shares of Hi-Crush Partners from a “d+” rating to a “c+” rating in a research report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company. Hi-Crush Partners currently has a consensus rating of “Buy” and an average price target of $16.60.
Shares of Hi-Crush Partners LP (HCLP) remained flat at $$10.55 on Friday. The company’s stock had a trading volume of 2,053,100 shares, compared to its average volume of 1,859,344. Hi-Crush Partners LP has a twelve month low of $7.25 and a twelve month high of $23.30. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.29 and a current ratio of 1.77. The company has a market cap of $960.37, a price-to-earnings ratio of 32.97 and a beta of 0.99.
Hi-Crush Partners (NYSE:HCLP) last announced its earnings results on Tuesday, October 31st. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.08). Hi-Crush Partners had a return on equity of 5.01% and a net margin of 7.09%. The business had revenue of $167.58 million for the quarter, compared to analyst estimates of $168.95 million. During the same period last year, the firm earned ($0.21) EPS. The company’s revenue for the quarter was up 259.9% compared to the same quarter last year. sell-side analysts expect that Hi-Crush Partners LP will post 1.01 EPS for the current fiscal year.
Hi-Crush Partners declared that its board has approved a stock repurchase program on Tuesday, October 17th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st will be issued a dividend of $0.15 per share. The ex-dividend date is Monday, October 30th. This represents a $0.60 annualized dividend and a dividend yield of 5.69%. Hi-Crush Partners’s dividend payout ratio is presently 187.51%.
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Hi-Crush Partners Profile
Hi-Crush Partners LP is an integrated producer, transporter, marketer and distributor of monocrystalline sand, a specialized mineral that is used as a proppant to manage the recovery rates of hydrocarbons from oil and natural gas wells. Its reserves consist of northern white sand, a resource in Wisconsin and limited portions of the upper Midwest region of the United States.
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