U.S. Silica Holdings Inc (SLCA) Position Decreased by Point72 Asset Management L.P.
Point72 Asset Management L.P. reduced its position in shares of U.S. Silica Holdings Inc (NYSE:SLCA) by 13.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 953,002 shares of the mining company’s stock after selling 152,765 shares during the period. Point72 Asset Management L.P. owned 1.17% of U.S. Silica worth $29,610,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Winch Advisory Services LLC increased its holdings in U.S. Silica by 109.0% during the second quarter. Winch Advisory Services LLC now owns 4,127 shares of the mining company’s stock worth $146,000 after buying an additional 2,152 shares during the last quarter. Riverhead Capital Management LLC increased its holdings in U.S. Silica by 69.0% during the second quarter. Riverhead Capital Management LLC now owns 4,226 shares of the mining company’s stock worth $150,000 after buying an additional 1,726 shares during the last quarter. Verde Servicos Internacionais S.A. purchased a new stake in U.S. Silica during the third quarter worth about $201,000. Everence Capital Management Inc. increased its holdings in U.S. Silica by 20.5% during the second quarter. Everence Capital Management Inc. now owns 6,050 shares of the mining company’s stock worth $215,000 after buying an additional 1,030 shares during the last quarter. Finally, QS Investors LLC increased its holdings 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 worth $217,000 after buying an additional 18 shares during the last quarter.
U.S. Silica Holdings Inc (NYSE:SLCA) traded up $0.32 during mid-day trading on Wednesday, hitting $33.95. 961,814 shares of the stock were exchanged, compared to its average volume of 2,494,490. 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 one year low of $24.26 and a one year high of $61.49. The company has a market capitalization of $2,733.33, a price-to-earnings ratio of 36.98 and a beta of 2.32.
U.S. Silica declared that its board has approved a share repurchase plan on Monday, November 6th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the mining company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 15th will be given a $0.063 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.74%. U.S. Silica’s dividend payout ratio (DPR) is currently 31.25%.
A number of analysts recently issued reports on the stock. Citigroup raised their price objective on shares of U.S. Silica from $39.00 to $41.00 and gave the stock a “buy” rating in a report on Friday, November 10th. Wolfe Research downgraded shares of U.S. Silica from a “market perform” rating to an “underperform” rating in a research note on Tuesday, November 14th. Piper Jaffray Companies reiterated a “buy” rating and issued a $40.50 target price on shares of U.S. Silica in a research note on Friday, November 10th. Jefferies Group set a $43.00 target price on shares of U.S. Silica and gave the stock a “buy” rating in a research note on Monday, November 13th. Finally, Royal Bank of Canada reduced their target price on shares of U.S. Silica from $55.00 to $47.00 and set an “outperform” rating for the company in a research note 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 stock presently has a consensus rating of “Buy” and a consensus price target of $48.50.
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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