Banque Pictet & Cie SA lowered its stake in shares of U.S. Silica Holdings Inc (NYSE:SLCA) by 7.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 223,430 shares of the mining company’s stock after selling 18,111 shares during the quarter. Banque Pictet & Cie SA owned about 0.29% of U.S. Silica worth $5,702,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of SLCA. Brown Advisory Inc. acquired a new stake in U.S. Silica during the 4th quarter worth approximately $200,000. Granite Springs Asset Management LLC acquired a new stake in U.S. Silica during the 4th quarter worth approximately $215,000. Affinity Investment Advisors LLC acquired a new stake in U.S. Silica during the 1st quarter worth approximately $222,000. Lee Financial Co acquired a new stake in U.S. Silica during the 4th quarter worth approximately $225,000. Finally, Phoenix Investment Adviser LLC acquired a new stake in U.S. Silica during the 4th quarter worth approximately $228,000. 98.42% of the stock is owned by institutional investors.
SLCA has been the subject of a number of research analyst reports. Citigroup downgraded shares of U.S. Silica from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $43.00 to $28.00 in a research report on Thursday, February 22nd. Cowen reissued an “outperform” rating and set a $42.00 target price (down previously from $45.00) on shares of U.S. Silica in a research report on Thursday, February 22nd. Credit Suisse Group reissued an “outperform” rating and set a $36.00 target price (down previously from $40.00) on shares of U.S. Silica in a research report on Thursday, February 22nd. Wells Fargo reissued an “outperform” rating and set a $31.00 target price (down previously from $41.00) on shares of U.S. Silica in a research report on Thursday, February 22nd. Finally, SunTrust Banks decreased their price target on U.S. Silica to $38.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seventeen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $41.67.
U.S. Silica stock opened at $33.39 on Friday. The company has a market cap of $2.54 billion, a PE ratio of 22.26 and a beta of 2.30. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.16 and a quick ratio of 2.80. U.S. Silica Holdings Inc has a 52 week low of $32.58 and a 52 week high of $33.37.
U.S. Silica (NYSE:SLCA) last released its earnings results on Wednesday, February 21st. The mining company reported $0.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.04). The business had revenue of $360.57 million for the quarter, compared to analysts’ expectations of $359.17 million. U.S. Silica had a net margin of 12.74% and a return on equity of 11.86%. analysts forecast that U.S. Silica Holdings Inc will post 3.08 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 6th. Stockholders of record on Friday, June 15th will be paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Thursday, June 14th. U.S. Silica’s dividend payout ratio (DPR) is currently 16.67%.
In other U.S. Silica news, Director Diane K. Duren bought 10,000 shares of U.S. Silica stock in a transaction dated Monday, February 26th. The stock was bought at an average cost of $25.96 per share, for a total transaction of $259,600.00. Following the purchase, the director now owns 12,168 shares in the company, valued at approximately $315,881.28. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William Jennings Kacal bought 20,300 shares of U.S. Silica stock in a transaction dated Friday, February 23rd. The shares were acquired at an average price of $25.78 per share, with a total value of $523,334.00. The disclosure for this purchase can be found here. Corporate insiders own 1.40% of the company’s stock.
U.S. Silica Company Profile
U.S. Silica Holdings, Inc produces and sells commercial silica in the United States. The company operates through two segments, Oil & Gas Proppants and Industrial & Specialty Products. It offers whole grain commercial silica products to be used as fracturing sand in connection with oil and natural gas recovery; and resin coated proppants, as well as sells its whole grain silica products in various size distributions, grain shapes, and chemical purity levels for manufacturing glass products.
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