JPMorgan Chase & Co. lowered its stake in Hi-Crush Partners LP (NYSE:HCLP) by 32.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 838,929 shares of the basic materials company’s stock after selling 403,234 shares during the period. JPMorgan Chase & Co. owned 0.83% of Hi-Crush Partners worth $9,060,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the business. Malaga Cove Capital LLC lifted its holdings in shares of Hi-Crush Partners by 13.1% during the third quarter. Malaga Cove Capital LLC now owns 118,544 shares of the basic materials company’s stock worth $1,292,000 after purchasing an additional 13,750 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Hi-Crush Partners by 10.9% during the second quarter. Van ECK Associates Corp now owns 239,227 shares of the basic materials company’s stock worth $2,823,000 after purchasing an additional 23,590 shares during the period. Ingalls & Snyder LLC acquired a new position in shares of Hi-Crush Partners during the second quarter worth $198,000. Royce & Associates LP acquired a new position in shares of Hi-Crush Partners during the second quarter worth $1,134,000. Finally, Alps Advisors Inc. acquired a new position in shares of Hi-Crush Partners during the third quarter worth $423,000. Hedge funds and other institutional investors own 13.35% of the company’s stock.
In other Hi-Crush Partners news, insider William E. Barker sold 9,444 shares of Hi-Crush Partners stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $12.40, for a total value of $117,105.60. Following the completion of the sale, the insider now directly owns 17,968 shares of the company’s stock, valued at $222,803.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 34.80% of the company’s stock.
Shares of NYSE HCLP opened at $4.63 on Thursday. Hi-Crush Partners LP has a twelve month low of $4.40 and a twelve month high of $16.65. The firm has a market cap of $456.94 million, a P/E ratio of 2.12 and a beta of 1.50. The company has a quick ratio of 2.18, a current ratio of 2.70 and a debt-to-equity ratio of 0.53.
Hi-Crush Partners (NYSE:HCLP) last announced its earnings results on Tuesday, October 30th. The basic materials company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. Hi-Crush Partners had a net margin of 21.37% and a return on equity of 24.52%. The business had revenue of $213.97 million during the quarter, compared to the consensus estimate of $212.11 million. During the same quarter last year, the firm earned $0.32 earnings per share. Hi-Crush Partners’s quarterly revenue was up 27.7% on a year-over-year basis. On average, research analysts predict that Hi-Crush Partners LP will post 1.55 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Shareholders of record on Thursday, November 1st were paid a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 19.44%. The ex-dividend date of this dividend was Wednesday, October 31st. Hi-Crush Partners’s dividend payout ratio (DPR) is currently 89.11%.
HCLP has been the topic of a number of recent research reports. Barclays initiated coverage on shares of Hi-Crush Partners in a report on Thursday, August 16th. They set an “equal weight” rating and a $14.00 price target on the stock. Johnson Rice lowered shares of Hi-Crush Partners from a “buy” rating to an “accumulate” rating and set a $18.00 price target on the stock. in a report on Monday, August 20th. B. Riley lowered their target price on shares of Hi-Crush Partners from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, September 6th. ValuEngine downgraded shares of Hi-Crush Partners from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 27th. Finally, Raymond James downgraded shares of Hi-Crush Partners from a “strong-buy” rating to a “market perform” rating in a research note on Thursday, September 27th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $11.73.
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About Hi-Crush Partners
Hi-Crush Partners LP, together with its subsidiaries, provides proppant and logistics solutions to the energy industry in North America. The company produces monocrystalline sand, a specialized mineral used as a proppant during the well completion process to facilitate the recovery of hydrocarbons from oil and natural gas wells.
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