Discovery Capital Management LLC CT Lowers Stake in U.S. Silica Holdings, Inc. (SLCA)
Discovery Capital Management LLC CT cut its holdings in U.S. Silica Holdings, Inc. (NYSE:SLCA) by 57.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 573,441 shares of the mining company’s stock after selling 780,700 shares during the quarter. Discovery Capital Management LLC CT owned approximately 0.71% of U.S. Silica Holdings worth $20,351,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Oppenheimer Asset Management Inc. acquired a new stake in shares of U.S. Silica Holdings in the first quarter valued at $508,000. Vanguard Group Inc. increased its stake in shares of U.S. Silica Holdings by 5.9% in the first quarter. Vanguard Group Inc. now owns 7,077,375 shares of the mining company’s stock valued at $339,643,000 after buying an additional 397,273 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of U.S. Silica Holdings by 467.4% in the second quarter. BNP Paribas Arbitrage SA now owns 89,781 shares of the mining company’s stock valued at $3,186,000 after buying an additional 73,959 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of U.S. Silica Holdings in the second quarter valued at $22,977,000. Finally, Victory Capital Management Inc. increased its stake in shares of U.S. Silica Holdings by 178.7% in the second quarter. Victory Capital Management Inc. now owns 960,863 shares of the mining company’s stock valued at $34,101,000 after buying an additional 616,051 shares in the last quarter.
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Shares of U.S. Silica Holdings, Inc. (SLCA) traded up 1.50% during trading on Friday, reaching $31.07. The company’s stock had a trading volume of 2,243,547 shares. U.S. Silica Holdings, Inc. has a 12 month low of $24.26 and a 12 month high of $61.49. The firm has a market cap of $2.52 billion, a PE ratio of 177.54 and a beta of 2.32. The company’s 50 day moving average price is $26.86 and its 200 day moving average price is $36.17.
U.S. Silica Holdings (NYSE:SLCA) last issued its quarterly earnings results on Monday, July 31st. The mining company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.01. The company had revenue of $290.50 million during the quarter, compared to analysts’ expectations of $316.43 million. U.S. Silica Holdings had a return on equity of 1.92% and a net margin of 1.60%. The business’s quarterly revenue was up 148.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. On average, equities analysts predict that U.S. Silica Holdings, Inc. will post $1.55 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Friday, September 15th will be paid a $0.063 dividend. This is a boost from U.S. Silica Holdings’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.25 annualized dividend and a dividend yield of 0.81%. U.S. Silica Holdings’s dividend payout ratio is presently 192.31%.
A number of analysts recently commented on SLCA shares. Royal Bank Of Canada set a $60.00 price objective on U.S. Silica Holdings and gave the stock a “buy” rating in a research report on Saturday, July 1st. ValuEngine lowered U.S. Silica Holdings from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. Scotiabank set a $63.00 price objective on U.S. Silica Holdings and gave the stock a “buy” rating in a research report on Tuesday, June 13th. BidaskClub upgraded U.S. Silica Holdings from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, Zacks Investment Research upgraded U.S. Silica Holdings from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, two have given a hold rating and eighteen have given a buy rating to the stock. U.S. Silica Holdings currently has a consensus rating of “Buy” and an average price target of $50.45.
About U.S. Silica Holdings
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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