Elliott Management Corp acquired a new stake in Fairmount Santrol Holdings Inc. (NYSE:FMSA) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,800,000 shares of the industrial products company’s stock, valued at approximately $18,720,000. Elliott Management Corp owned approximately 2.14% of Fairmount Santrol Holdings at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Point72 Europe London LLP acquired a new stake in shares of Fairmount Santrol Holdings in the 2nd quarter valued at $473,000. BlueCrest Capital Management Ltd raised its holdings in shares of Fairmount Santrol Holdings by 1,030.5% in the 2nd quarter. BlueCrest Capital Management Ltd now owns 150,018 shares of the industrial products company’s stock valued at $585,000 after purchasing an additional 136,748 shares in the last quarter. State Street Corp raised its holdings in shares of Fairmount Santrol Holdings by 50.9% in the 2nd quarter. State Street Corp now owns 4,569,533 shares of the industrial products company’s stock valued at $17,820,000 after purchasing an additional 1,540,859 shares in the last quarter. Gotham Asset Management LLC acquired a new stake in shares of Fairmount Santrol Holdings in the 2nd quarter valued at $5,690,000. Finally, Intrinsic Edge Capital Management LLC acquired a new stake in shares of Fairmount Santrol Holdings in the 2nd quarter valued at $1,728,000. Institutional investors and hedge funds own 84.17% of the company’s stock.

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FMSA has been the topic of a number of analyst reports. Northcoast Research upgraded shares of Fairmount Santrol Holdings from a “sell” rating to a “neutral” rating in a report on Tuesday, June 27th. Morgan Stanley restated an “overweight” rating and issued a $8.00 price objective (down from $14.50) on shares of Fairmount Santrol Holdings in a report on Wednesday, June 21st. Johnson Rice lowered shares of Fairmount Santrol Holdings from a “buy” rating to an “accumulate” rating and reduced their price objective for the company from $10.00 to $6.00 in a report on Thursday, June 22nd. Jefferies Group LLC reduced their price objective on shares of Fairmount Santrol Holdings from $8.00 to $5.00 and set a “buy” rating on the stock in a report on Monday, August 28th. Finally, Credit Suisse Group lowered shares of Fairmount Santrol Holdings from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $12.00 to $4.00 in a report on Thursday, July 20th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $6.79.

Fairmount Santrol Holdings Inc. (NYSE FMSA) traded down 3.93% on Friday, hitting $4.89. 6,405,098 shares of the company were exchanged. The firm has a 50 day moving average of $3.60 and a 200-day moving average of $4.41. Fairmount Santrol Holdings Inc. has a 52-week low of $2.46 and a 52-week high of $13.12. The stock’s market cap is $1.10 billion.

Fairmount Santrol Holdings (NYSE:FMSA) last issued its earnings results on Thursday, August 3rd. The industrial products company reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.02. The company had revenue of $233.20 million for the quarter, compared to analysts’ expectations of $231.16 million. Fairmount Santrol Holdings had a negative net margin of 6.11% and a negative return on equity of 24.37%. The firm’s revenue was up 104.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.54) earnings per share. On average, equities analysts expect that Fairmount Santrol Holdings Inc. will post $0.28 earnings per share for the current fiscal year.

Fairmount Santrol Holdings Company Profile

Fairmount Santrol Holdings Inc is a provider of sand-based proppant solutions. The Company operates through two segments: Proppant Solutions, and Industrial & Recreational (I&R) Products. Its Proppant Solutions segment provides sand-based proppants for use in hydraulic fracturing operations throughout the United States and Canada, Argentina, Mexico, China, northern Europe and the United Arab Emirates.

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Institutional Ownership by Quarter for Fairmount Santrol Holdings (NYSE:FMSA)

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