Pinebridge Investments L.P. reduced its stake in U.S. Silica Holdings Inc (NYSE:SLCA) by 15.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,767 shares of the mining company’s stock after selling 14,780 shares during the period. Pinebridge Investments L.P. owned approximately 0.11% of U.S. Silica worth $1,021,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of SLCA. Nisa Investment Advisors LLC boosted its stake in shares of U.S. Silica by 348.8% in the second quarter. Nisa Investment Advisors LLC now owns 1,930 shares of the mining company’s stock valued at $25,000 after buying an additional 1,500 shares during the period. Avestar Capital LLC acquired a new position in U.S. Silica during the first quarter valued at approximately $27,000. Public Employees Retirement System of Ohio raised its position in U.S. Silica by 29.0% during the second quarter. Public Employees Retirement System of Ohio now owns 5,639 shares of the mining company’s stock valued at $72,000 after purchasing an additional 1,269 shares in the last quarter. FMR LLC raised its position in U.S. Silica by 624.3% during the first quarter. FMR LLC now owns 4,230 shares of the mining company’s stock valued at $73,000 after purchasing an additional 3,646 shares in the last quarter. Finally, M&T Bank Corp acquired a new position in U.S. Silica during the second quarter valued at approximately $139,000.
Several brokerages have commented on SLCA. Citigroup downgraded shares of U.S. Silica from a “buy” rating to a “hold” rating and lowered their price objective for the company from $14.00 to $8.00 in a research report on Tuesday, September 10th. ValuEngine upgraded shares of U.S. Silica from a “strong sell” rating to a “sell” rating in a research report on Tuesday, July 2nd. R. F. Lafferty downgraded shares of U.S. Silica from a “buy” rating to a “hold” rating and lowered their price objective for the company from $14.00 to $8.00 in a research report on Tuesday, September 10th. Finally, Morgan Stanley boosted their price objective on shares of U.S. Silica from $14.00 to $15.00 and gave the company an “underweight” rating in a research report on Friday, July 12th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $19.81.
U.S. Silica (NYSE:SLCA) last announced its quarterly earnings results on Tuesday, July 30th. The mining company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.19. The company had revenue of $394.85 million during the quarter, compared to the consensus estimate of $396.72 million. U.S. Silica had a negative net margin of 16.92% and a positive return on equity of 6.49%. The company’s revenue for the quarter was down 7.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.64 earnings per share. As a group, sell-side analysts anticipate that U.S. Silica Holdings Inc will post 0.03 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Friday, September 13th will be issued a dividend of $0.063 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.25 annualized dividend and a dividend yield of 2.17%. U.S. Silica’s dividend payout ratio (DPR) is presently 15.82%.
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, 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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