GeoSphere Capital Management Purchases New Holdings in U.S. Silica Holdings Inc (SLCA)
GeoSphere Capital Management purchased a new stake in U.S. Silica Holdings Inc (NYSE:SLCA) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 63,000 shares of the mining company’s stock, valued at approximately $1,957,000. U.S. Silica comprises 5.1% of GeoSphere Capital Management’s holdings, making the stock its 11th biggest holding. GeoSphere Capital Management owned about 0.08% of U.S. Silica at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. QS Investors LLC raised its holdings in U.S. Silica by 0.3% during the 2nd quarter. QS Investors LLC now owns 6,128 shares of the mining company’s stock worth $217,000 after purchasing an additional 18 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in U.S. Silica by 13.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,172 shares of the mining company’s stock worth $255,000 after purchasing an additional 843 shares during the last quarter. Symphony Asset Management LLC raised its holdings in U.S. Silica by 2.9% during the 2nd quarter. Symphony Asset Management LLC now owns 30,405 shares of the mining company’s stock worth $1,079,000 after purchasing an additional 863 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its holdings in U.S. Silica by 5.5% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 17,220 shares of the mining company’s stock worth $611,000 after purchasing an additional 890 shares during the last quarter. Finally, Profund Advisors LLC raised its holdings in U.S. Silica by 5.0% during the 2nd quarter. Profund Advisors LLC now owns 18,855 shares of the mining company’s stock worth $669,000 after purchasing an additional 895 shares during the last quarter.
Shares of U.S. Silica Holdings Inc (NYSE SLCA) traded up $0.28 on Thursday, hitting $33.91. The company had a trading volume of 1,946,400 shares, compared to its average volume of 2,492,206. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.67 and a quick ratio of 3.26. U.S. Silica Holdings Inc has a 1-year low of $24.26 and a 1-year high of $61.49. The firm has a market cap of $2,750.00, a price-to-earnings ratio of 36.96 and a beta of 2.31.
U.S. Silica (NYSE:SLCA) last issued its quarterly earnings data on Monday, November 6th. The mining company reported $0.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.02. U.S. Silica had a return on equity of 5.73% and a net margin of 6.24%. The business had revenue of $345.00 million during the quarter, compared to analyst estimates of $328.91 million. During the same period in the previous year, the firm earned ($0.13) EPS. U.S. Silica’s quarterly revenue was up 150.5% compared to the same quarter last year. research analysts anticipate that U.S. Silica Holdings Inc will post 1.53 EPS for the current fiscal year.
U.S. Silica declared that its Board of Directors has initiated a stock buyback plan on Monday, November 6th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the mining company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 15th will be given a $0.063 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.25 annualized dividend and a dividend yield of 0.74%. U.S. Silica’s dividend payout ratio is presently 31.25%.
In other U.S. Silica news, Director Charles W. Shaver acquired 3,300 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The stock was acquired at an average cost of $33.99 per share, for a total transaction of $112,167.00. Following the transaction, the director now owns 29,829 shares of the company’s stock, valued at $1,013,887.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by insiders.
A number of brokerages have recently commented on SLCA. Zacks Investment Research cut U.S. Silica from a “strong-buy” rating to a “hold” rating in a research note on Monday. Seaport Global Securities began coverage on U.S. Silica in a research note on Friday, December 8th. They issued a “buy” rating and a $59.00 price target for the company. B. Riley began coverage on U.S. Silica in a research note on Wednesday, December 6th. They issued a “buy” rating and a $40.00 price target for the company. ValuEngine raised U.S. Silica from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Barclays raised U.S. Silica from an “equal weight” rating to an “overweight” rating and set a $39.00 price target for the company in a research note on Monday, November 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $48.50.
U.S. Silica Company Profile
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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