U.S. Silica Holdings Inc. (NYSE:SLCA) had its price target raised by Raymond James Financial Inc. from $44.00 to $56.00 in a research note released on Friday morning. The firm currently has an outperform rating on the mining company’s stock.
SLCA has been the topic of several other research reports. DA Davidson lowered shares of U.S. Silica Holdings from a buy rating to a neutral rating and set a $36.00 price objective on the stock. in a research note on Monday, June 13th. They noted that the move was a valuation call. Zacks Investment Research raised shares of U.S. Silica Holdings from a hold rating to a strong-buy rating and set a $37.00 price objective on the stock in a research note on Wednesday, June 29th. Credit Suisse Group AG reissued a buy rating and set a $40.00 price objective (up previously from $32.00) on shares of U.S. Silica Holdings in a research note on Wednesday, July 20th. Howard Weil boosted their price objective on shares of U.S. Silica Holdings from $32.00 to $35.00 and gave the stock a sector perform rating in a research note on Thursday, August 4th. Finally, Citigroup Inc. boosted their price objective on shares of U.S. Silica Holdings from $41.00 to $45.00 and gave the stock a buy rating in a research note on Monday, August 8th. Six equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. 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 45.16 on Friday. The stock’s 50 day moving average is $41.35 and its 200 day moving average is $32.07. The firm’s market capitalization is $2.87 billion. 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 quarterly earnings results on Tuesday, August 2nd. The mining company reported ($0.19) earnings per share (EPS) for the quarter, beating 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 earned $0.08 earnings per share. U.S. Silica Holdings’s quarterly revenue was down 20.7% on a year-over-year basis. On average, equities research analysts predict that U.S. Silica Holdings will post ($0.65) earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 4th. Stockholders of record on Thursday, September 15th will be paid a $0.0625 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.55%. U.S. Silica Holdings’s dividend payout ratio (DPR) is presently -39.06%.
In other news, COO Michael L. Winkler sold 64,123 shares of the stock in a transaction on Friday, August 19th. The shares were sold at an average price of $42.00, for a total value of $2,693,166.00. Following the completion of the sale, the chief operating officer now directly 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, SVP David D. Murry sold 6,352 shares of the stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $45.00, for a total transaction of $285,840.00. Following the completion of the sale, 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 currently owned by insiders.
Several hedge funds have recently made changes to their positions in the company. Mason Street Advisors LLC purchased a new stake in shares of U.S. Silica Holdings during the second quarter worth about $428,000. Schwab Charles Investment Management Inc. boosted its stake in shares of U.S. Silica Holdings by 17.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 270,502 shares of the mining company’s stock worth $9,325,000 after buying an additional 41,161 shares during the period. Stifel Financial Corp boosted its stake in shares of U.S. Silica Holdings by 5.3% in the second quarter. Stifel Financial Corp now owns 33,328 shares of the mining company’s stock worth $1,150,000 after buying an additional 1,674 shares during the period. Pine River Capital Management L.P. purchased a new stake in shares of U.S. Silica Holdings during the second quarter worth about $1,379,000. Finally, Amalgamated Bank purchased a new stake in shares of U.S. Silica Holdings during the second quarter worth about $286,000. 97.26% of the stock is owned by hedge funds and other institutional investors.
U.S. Silica Holdings Company Profile
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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