U.S. Silica Holdings Inc (SLCA) Holdings Boosted by Royce & Associates LP
Royce & Associates LP boosted its holdings in shares of U.S. Silica Holdings Inc (NYSE:SLCA) by 187.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 264,356 shares of the mining company’s stock after buying an additional 172,500 shares during the quarter. Royce & Associates LP owned approximately 0.33% of U.S. Silica worth $8,214,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in SLCA. Bank of Montreal Can increased its position in U.S. Silica by 688.1% during the second quarter. Bank of Montreal Can now owns 42,414 shares of the mining company’s stock worth $1,504,000 after buying an additional 37,032 shares during the last quarter. Aperio Group LLC grew its position in shares of U.S. Silica by 63.3% in the second quarter. Aperio Group LLC now owns 26,707 shares of the mining company’s stock valued at $948,000 after purchasing an additional 10,349 shares during the last quarter. US Bancorp DE grew its position in shares of U.S. Silica by 56.2% in the second quarter. US Bancorp DE now owns 8,127 shares of the mining company’s stock valued at $289,000 after purchasing an additional 2,924 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its position in shares of U.S. Silica by 5.5% in the second quarter. Municipal Employees Retirement System of Michigan now owns 17,220 shares of the mining company’s stock valued at $611,000 after purchasing an additional 890 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its position in shares of U.S. Silica by 61.0% in the second quarter. Janney Montgomery Scott LLC now owns 15,302 shares of the mining company’s stock valued at $543,000 after purchasing an additional 5,797 shares during the last quarter.
Shares of U.S. Silica Holdings Inc (SLCA) traded up $0.14 during mid-day trading on Friday, hitting $34.60. The company had a trading volume of 633,552 shares, compared to its average volume of 2,489,871. The company has a current ratio of 3.67, a quick ratio of 3.26 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $2,754.45, a PE ratio of 37.26 and a beta of 2.32. U.S. Silica Holdings Inc has a fifty-two week low of $24.26 and a fifty-two week high of $61.49.
U.S. Silica announced that its board has authorized a stock repurchase program on Monday, November 6th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the mining company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.063 per share. This represents a $0.25 annualized dividend and a yield of 0.73%. The ex-dividend date is Thursday, December 14th. U.S. Silica’s payout ratio is presently 31.25%.
In other U.S. Silica news, Director Charles W. Shaver bought 3,300 shares of the business’s stock in a transaction on Tuesday, December 12th. The stock was purchased at an average cost of $33.99 per share, for a total transaction of $112,167.00. Following the completion of the purchase, the director now directly owns 29,829 shares of the company’s stock, valued at $1,013,887.71. The acquisition was disclosed in a filing with the SEC, which is available at this link. 1.00% of the stock is owned by corporate insiders.
Several equities analysts have recently commented on the company. Citigroup upped their target price on U.S. Silica from $39.00 to $41.00 and gave the company a “buy” rating in a research report on Friday, November 10th. Wolfe Research downgraded U.S. Silica from a “market perform” rating to an “underperform” rating in a research report on Tuesday, November 14th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $40.50 target price on shares of U.S. Silica in a research report on Friday, November 10th. Jefferies Group set a $43.00 target price on U.S. Silica and gave the company a “buy” rating in a research report on Monday, November 13th. Finally, Royal Bank of Canada decreased their target price on U.S. Silica from $55.00 to $47.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nineteen have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $48.50.
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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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