Redwood Investments LLC bought a new position in shares of U.S. Silica Holdings Inc. (NYSE:SLCA) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 135,548 shares of the mining company’s stock, valued at approximately $4,672,000.
A number of other large investors have also recently modified their holdings of the stock. BlackRock Fund Advisors raised its stake in shares of U.S. Silica Holdings by 15.7% in the first quarter. BlackRock Fund Advisors now owns 4,121,270 shares of the mining company’s stock worth $93,635,000 after buying an additional 559,924 shares during the period. Norges Bank purchased a new stake in shares of U.S. Silica Holdings during the fourth quarter worth $8,441,000. RS Investment Management Co. LLC purchased a new stake in shares of U.S. Silica Holdings during the second quarter worth $12,761,000. Loomis Sayles & Co. L P raised its stake in shares of U.S. Silica Holdings by 86,278.5% in the first quarter. Loomis Sayles & Co. L P now owns 342,059 shares of the mining company’s stock worth $7,772,000 after buying an additional 341,663 shares during the period. Finally, Scopia Capital Management LP purchased a new stake in shares of U.S. Silica Holdings during the first quarter worth $5,655,000. 97.26% of the stock is owned by institutional investors and hedge funds.
U.S. Silica Holdings Inc. (NYSE:SLCA) traded down 0.21% during trading on Tuesday, reaching $46.93. The company had a trading volume of 1,414,936 shares. U.S. Silica Holdings Inc. has a 1-year low of $13.54 and a 1-year high of $47.62. The stock’s market capitalization is $2.98 billion. The firm has a 50-day moving average of $42.03 and a 200-day moving average of $32.70.
U.S. Silica Holdings (NYSE:SLCA) last issued its quarterly earnings data 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. The company had revenue of $117 million for the quarter, compared to analyst estimates of $114.53 million. U.S. Silica Holdings had a negative return on equity of 7.76% and a negative net margin of 6.70%. The business’s quarterly revenue was down 20.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.08 earnings per share. On average, analysts anticipate that U.S. Silica Holdings Inc. will post ($0.66) EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 4th. Shareholders of record on Thursday, September 15th will be issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Tuesday, September 13th. U.S. Silica Holdings’s payout ratio is -39.06%.
SLCA has been the subject of several recent research reports. Jefferies Group reissued a “buy” rating and issued a $41.00 price target on shares of U.S. Silica Holdings in a research report on Tuesday, July 19th. DA Davidson lowered U.S. Silica Holdings from a “buy” rating to a “neutral” rating and set a $36.00 price target for the company. in a research report on Monday, June 13th. They noted that the move was a valuation call. Citigroup Inc. boosted their price target on U.S. Silica Holdings from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, September 12th. Zacks Investment Research upgraded U.S. Silica Holdings from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Saturday, August 20th. Finally, Barclays PLC began coverage on U.S. Silica Holdings in a research note on Wednesday, August 10th. They set an “overweight” rating and a $50.00 target price on the stock. Six research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $36.31.
In other U.S. Silica Holdings news, COO Michael L. Winkler sold 64,123 shares of the firm’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $42.00, for a total transaction of $2,693,166.00. Following the transaction, the chief operating officer now owns 57,674 shares of the company’s stock, valued at $2,422,308. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Bradford B. Casper sold 12,273 shares of the firm’s stock in a transaction dated Thursday, September 29th. The stock was sold at an average price of $45.81, for a total value of $562,226.13. Following the transaction, the executive vice president now directly owns 18,699 shares in the company, valued at approximately $856,601.19. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.
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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