CIBC Asset Management Inc purchased a new stake in shares of U.S. Silica Holdings Inc (NYSE:SLCA) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 7,376 shares of the mining company’s stock, valued at approximately $240,000.

Other institutional investors have also recently made changes to their positions in the company. QS Investors LLC boosted its stake in U.S. Silica by 0.3% during the second quarter. QS Investors LLC now owns 6,128 shares of the mining company’s stock valued at $217,000 after buying an additional 18 shares during the last quarter. Sentry Investment Management LLC bought a new position in U.S. Silica during the second quarter valued at approximately $221,000. Verde Servicos Internacionais S.A. bought a new position in U.S. Silica during the third quarter valued at approximately $201,000. Phoenix Investment Adviser LLC bought a new position in U.S. Silica during the fourth quarter valued at approximately $228,000. Finally, Gabelli Funds LLC bought a new position in U.S. Silica during the fourth quarter valued at approximately $228,000. 99.37% of the stock is owned by institutional investors.

Shares of U.S. Silica Holdings Inc (NYSE SLCA) opened at $29.75 on Thursday. The stock has a market capitalization of $2,420.00, a P/E ratio of 37.19 and a beta of 2.15. U.S. Silica Holdings Inc has a one year low of $24.26 and a one year high of $61.49. The company has a quick ratio of 3.26, a current ratio of 3.67 and a debt-to-equity ratio of 0.39.

U.S. Silica announced that its Board of Directors has authorized a stock repurchase program on Monday, November 6th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the mining company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

In other news, EVP Bradford B. Casper sold 8,700 shares of the stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $34.21, for a total value of $297,627.00. Following the sale, the executive vice president now directly owns 18,593 shares in the company, valued at $636,066.53. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Bryan Adair Shinn purchased 4,000 shares of U.S. Silica stock in a transaction dated Wednesday, December 20th. The stock was acquired at an average price of $31.30 per share, for a total transaction of $125,200.00. Following the completion of the acquisition, the chief executive officer now owns 88,807 shares of the company’s stock, valued at approximately $2,779,659.10. The disclosure for this purchase can be found here. Insiders bought a total of 7,900 shares of company stock valued at $256,063 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

SLCA has been the subject of a number of research reports. Piper Jaffray Companies reissued a “buy” rating and set a $36.00 price target on shares of U.S. Silica in a research note on Thursday, October 19th. Zacks Investment Research raised U.S. Silica from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Tuesday, October 24th. Cowen set a $45.00 price target on U.S. Silica and gave the company a “buy” rating in a research note on Thursday, January 11th. B. Riley initiated coverage on U.S. Silica in a research note on Wednesday, December 6th. They set a “buy” rating and a $40.00 price target for the company. Finally, Credit Suisse Group dropped their price target on U.S. Silica from $43.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $48.76.

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About U.S. Silica

U.S. Silica Holdings, Inc 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, it serves the oil and gas recovery market providing fracturing sand, or frac sand, which is pumped down oil and natural gas wells to prop open rock fissures and manage the flow rate of natural gas and oil from the wells.

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Institutional Ownership by Quarter for U.S. Silica (NYSE:SLCA)

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