U.S. Silica Holdings Inc. (NYSE:SLCA) had its price objective raised by Raymond James Financial Inc. from $44.00 to $56.00 in a research report sent to investors on Friday morning. They currently have an outperform rating on the mining company’s stock.
SLCA has been the topic of several other research reports. Morgan Stanley upgraded U.S. Silica Holdings to a buy rating in a report on Sunday, May 29th. Scotiabank reiterated a sector perform rating and set a $35.00 price target (up previously from $32.00) on shares of U.S. Silica Holdings in a report on Thursday, August 4th. Vetr upgraded U.S. Silica Holdings from a buy rating to a strong-buy rating and set a $40.31 price target on the stock in a report on Monday, July 25th. DA Davidson lowered U.S. Silica Holdings from a buy rating to a neutral rating and set a $36.00 price target on the stock. in a report on Monday, June 13th. They noted that the move was a valuation call. Finally, Jefferies Group lifted their price target on U.S. Silica Holdings from $44.00 to $45.00 and gave the stock a buy rating in a report on Thursday, August 4th. Six investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $36.31.
U.S. Silica Holdings (NYSE:SLCA) opened at 42.50 on Friday. The stock’s market capitalization is $2.70 billion. The firm has a 50-day moving average of $41.17 and a 200 day moving average of $31.97. U.S. Silica Holdings has a one year low of $13.48 and a one year high of $46.22.
U.S. Silica Holdings (NYSE:SLCA) last announced its earnings results on Tuesday, August 2nd. The mining company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.03. U.S. Silica Holdings had a negative net margin of 6.70% and a negative return on equity of 7.76%. The company had revenue of $117 million for the quarter, compared to analysts’ expectations of $114.53 million. During the same quarter in the previous year, the company posted $0.08 EPS. The firm’s quarterly revenue was down 20.7% on a year-over-year basis. On average, equities research analysts anticipate that U.S. Silica Holdings will post ($0.65) earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Investors of record on Thursday, September 15th will be issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date is Tuesday, September 13th. U.S. Silica Holdings’s dividend payout ratio (DPR) is -39.06%.
In related news, SVP Don D. Weinheimer sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $42.00, for a total value of $1,260,000.00. Following the completion of the transaction, the senior vice president now directly owns 38,130 shares of the company’s stock, valued at $1,601,460. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP David D. Murry sold 6,352 shares of the company’s stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $45.00, for a total value of $285,840.00. Following the completion of the transaction, the senior vice president now directly owns 14,839 shares of the company’s stock, valued at $667,755. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. MCF Advisors LLC increased its position in shares of U.S. Silica Holdings by 73.5% in the second quarter. MCF Advisors LLC now owns 2,997 shares of the mining company’s stock worth $103,000 after buying an additional 1,270 shares during the period. BlackRock Inc. increased its position in shares of U.S. Silica Holdings by 171.3% in the first quarter. BlackRock Inc. now owns 4,710 shares of the mining company’s stock worth $108,000 after buying an additional 2,974 shares during the period. Envestnet Asset Management Inc. increased its position in shares of U.S. Silica Holdings by 6.9% in the first quarter. Envestnet Asset Management Inc. now owns 5,086 shares of the mining company’s stock worth $116,000 after buying an additional 330 shares during the period. Panagora Asset Management Inc. acquired a new position in shares of U.S. Silica Holdings during the second quarter worth about $153,000. Finally, Strs Ohio increased its position in shares of U.S. Silica Holdings by 2,600.0% in the second quarter. Strs Ohio now owns 5,400 shares of the mining company’s stock worth $186,000 after buying an additional 5,200 shares during the period. 97.26% of the stock is owned by hedge funds and other institutional investors.
About U.S. Silica Holdings
U.S. Silica Holdings, Inc (U.S. Silica) 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, the Company serves the oil and gas recovery market providing fracturing sand, or frac sand.
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