South Dakota Investment Council Sells 48,200 Shares of U.S. Silica Holdings Inc (NYSE:SLCA)
South Dakota Investment Council cut its holdings in U.S. Silica Holdings Inc (NYSE:SLCA) by 16.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 253,525 shares of the mining company’s stock after selling 48,200 shares during the quarter. South Dakota Investment Council’s holdings in U.S. Silica were worth $3,243,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the stock. First Trust Advisors LP raised its position in U.S. Silica by 46.4% in the 1st quarter. First Trust Advisors LP now owns 209,978 shares of the mining company’s stock worth $3,645,000 after purchasing an additional 66,514 shares during the last quarter. White Pine Capital LLC bought a new position in U.S. Silica in the 1st quarter valued at $495,000. Fort Point Capital Partners LLC bought a new position in U.S. Silica in the 1st quarter valued at $207,000. Banque Pictet & Cie SA acquired a new stake in shares of U.S. Silica in the 2nd quarter valued at $177,000. Finally, Van ECK Associates Corp increased its stake in shares of U.S. Silica by 84.2% in the 2nd quarter. Van ECK Associates Corp now owns 975,644 shares of the mining company’s stock valued at $12,478,000 after buying an additional 445,860 shares during the period. 98.69% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently issued reports on SLCA. Citigroup lowered U.S. Silica from a “buy” rating to a “hold” rating and cut their price target for the company from $14.00 to $8.00 in a research note on Tuesday. Morgan Stanley boosted their price objective on U.S. Silica from $14.00 to $15.00 and gave the stock an “underweight” rating in a report on Friday, July 12th. R. F. Lafferty downgraded shares of U.S. Silica from a “buy” rating to a “hold” rating and cut their target price for the company from $14.00 to $8.00 in a research report on Tuesday. Finally, ValuEngine upgraded shares of U.S. Silica from a “strong sell” rating to a “sell” rating in a research report on Tuesday, July 2nd. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $19.81.
U.S. Silica (NYSE:SLCA) last issued its earnings results on Tuesday, July 30th. The mining company reported $0.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.19. The firm 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 business’s quarterly revenue was down 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 earnings per share.
The company 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 $0.063 dividend. This represents a $0.25 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend is Thursday, September 12th. U.S. Silica’s dividend payout ratio (DPR) is 15.82%.
About U.S. Silica
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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