American Century Companies Inc. Takes $1.25 Million Position in Smart Sand Inc (SND)
American Century Companies Inc. acquired a new stake in Smart Sand Inc (NYSE:SND) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 140,171 shares of the company’s stock, valued at approximately $1,249,000. American Century Companies Inc. owned approximately 0.35% of Smart Sand as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Smart Sand by 113.5% in the 1st quarter. Vanguard Group Inc. now owns 756,457 shares of the company’s stock valued at $12,292,000 after acquiring an additional 402,123 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Smart Sand by 86.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,405,119 shares of the company’s stock valued at $22,833,000 after acquiring an additional 650,587 shares in the last quarter. Victory Capital Management Inc. bought a new stake in shares of Smart Sand in the 1st quarter valued at $35,404,000. Wells Fargo & Company MN increased its stake in shares of Smart Sand by 38.3% in the 1st quarter. Wells Fargo & Company MN now owns 97,159 shares of the company’s stock valued at $1,579,000 after acquiring an additional 26,926 shares in the last quarter. Finally, Morgan Stanley increased its stake in shares of Smart Sand by 176.7% in the 1st quarter. Morgan Stanley now owns 105,869 shares of the company’s stock valued at $1,720,000 after acquiring an additional 67,604 shares in the last quarter.
Several analysts have recently weighed in on SND shares. Deutsche Bank AG reiterated a “buy” rating and issued a $18.00 price objective (down previously from $21.00) on shares of Smart Sand in a research note on Tuesday, May 30th. Credit Suisse Group lowered shares of Smart Sand from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $20.00 to $8.50 in a research note on Thursday, July 20th. Zacks Investment Research lowered shares of Smart Sand from a “buy” rating to a “hold” rating in a research note on Saturday, June 17th. Jefferies Group LLC restated a “buy” rating and set a $15.00 price target (down previously from $20.00) on shares of Smart Sand in a research note on Monday, June 26th. Finally, Janney Montgomery Scott initiated coverage on shares of Smart Sand in a research note on Thursday, June 15th. They set a “buy” rating and a $13.00 price target for the company. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $14.15.
Smart Sand Inc (SND) opened at 6.48 on Friday. Smart Sand Inc has a 12-month low of $5.82 and a 12-month high of $21.99. The stock has a market capitalization of $261.61 million and a P/E ratio of 13.64. The firm’s 50-day moving average is $6.42 and its 200-day moving average is $11.29.
Smart Sand (NYSE:SND) last issued its quarterly earnings results on Thursday, August 10th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). Smart Sand had a net margin of 8.81% and a return on equity of 6.22%. The company had revenue of $29.79 million for the quarter, compared to the consensus estimate of $29.88 million. During the same quarter in the previous year, the business earned ($0.11) earnings per share. Smart Sand’s revenue was up 250.9% compared to the same quarter last year. Analysts predict that Smart Sand Inc will post $0.31 EPS for the current fiscal year.
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In other Smart Sand news, VP Robert Kiszka acquired 10,000 shares of Smart Sand stock in a transaction that occurred on Friday, August 25th. The stock was bought at an average cost of $5.53 per share, for a total transaction of $55,300.00. Following the acquisition, the vice president now owns 110,629 shares of the company’s stock, valued at $611,778.37. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles Edwin Young acquired 100,000 shares of Smart Sand stock in a transaction that occurred on Wednesday, August 16th. The stock was acquired at an average price of $5.18 per share, with a total value of $518,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 140,600 shares in the company, valued at approximately $728,308. The disclosure for this purchase can be found here. Insiders have bought 132,000 shares of company stock valued at $685,960 over the last 90 days.
Smart Sand Profile
Smart Sand, Inc is a producer of Northern White raw frac sand, which is a proppant used to enhance hydrocarbon recovery rates in the hydraulic fracturing of oil and natural gas wells. The Company sells its products primarily to oil and natural gas exploration and production companies and oilfield service companies under a combination of long-term take-or-pay contracts and spot sales in the open market.
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