Jennison Associates LLC cut its position in shares of U.S. Silica Holdings, Inc. (NYSE:SLCA) by 56.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 303,971 shares of the mining company’s stock after selling 401,737 shares during the period. Jennison Associates LLC owned approximately 0.37% of U.S. Silica worth $9,444,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. BNP Paribas Arbitrage SA raised its stake in shares of U.S. Silica by 467.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 89,781 shares of the mining company’s stock valued at $3,186,000 after acquiring an additional 73,959 shares during the period. Royal Bank of Canada raised its stake in shares of U.S. Silica by 43.0% in the 2nd quarter. Royal Bank of Canada now owns 399,758 shares of the mining company’s stock valued at $14,187,000 after acquiring an additional 120,146 shares during the period. Eaton Vance Management raised its stake in shares of U.S. Silica by 64.5% in the 2nd quarter. Eaton Vance Management now owns 271,753 shares of the mining company’s stock valued at $9,645,000 after acquiring an additional 106,581 shares during the period. Vanguard Group Inc. grew its holdings in shares of U.S. Silica by 1.6% in the second quarter. Vanguard Group Inc. now owns 7,191,404 shares of the mining company’s stock valued at $255,223,000 after purchasing an additional 114,029 shares in the last quarter. Finally, Airain ltd acquired a new position in shares of U.S. Silica in the second quarter valued at approximately $1,461,000.
U.S. Silica Holdings, Inc. (SLCA) traded up $0.19 during midday trading on Monday, reaching $34.11. 2,964,755 shares of the company’s stock traded hands, compared to its average volume of 2,500,914. The company has a quick ratio of 3.26, a current ratio of 3.67 and a debt-to-equity ratio of 0.39. U.S. Silica Holdings, Inc. has a 12 month low of $24.26 and a 12 month high of $61.49. The firm has a market cap of $2,755.26, a PE ratio of 37.28 and a beta of 2.32.
U.S. Silica (NYSE:SLCA) last posted its quarterly earnings results on Monday, November 6th. The mining company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.51 by $0.02. U.S. Silica had a net margin of 6.24% and a return on equity of 5.73%. The company had revenue of $345.00 million during the quarter, compared to analysts’ expectations of $328.91 million. During the same quarter in the previous year, the business posted ($0.13) EPS. The firm’s revenue was up 150.5% on a year-over-year basis. sell-side analysts predict that U.S. Silica Holdings, Inc. will post 1.53 earnings per share for the current year.
U.S. Silica declared that its Board of Directors has initiated a stock repurchase plan on Monday, November 6th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the mining company to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 15th will be issued a $0.063 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend is Thursday, December 14th. U.S. Silica’s payout ratio is 31.25%.
A number of research analysts recently weighed in on the stock. BidaskClub cut shares of U.S. Silica from a “hold” rating to a “sell” rating in a report on Friday, August 11th. ValuEngine upgraded shares of U.S. Silica from a “sell” rating to a “hold” rating in a report on Friday. Zacks Investment Research upgraded shares of U.S. Silica from a “hold” rating to a “strong-buy” rating and set a $38.00 price objective for the company in a report on Monday. SunTrust Banks restated a “buy” rating and issued a $43.00 price objective (up previously from $35.00) on shares of U.S. Silica in a report on Thursday, September 28th. Finally, Barclays upgraded shares of U.S. Silica from an “equal weight” rating to an “overweight” rating and set a $39.00 price objective for the company in a report on Monday, November 20th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $48.05.
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U.S. Silica Company 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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