U.S. Silica Holdings Inc. (SLCA) Rating Lowered to Hold at Zacks Investment Research
U.S. Silica Holdings Inc. (NYSE:SLCA) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “U.S. Silica Holdings, Inc. is a producer of industrial minerals, including sand proppants, whole grain silica, ground silica, fine ground silica, calcined kaolin clay and aplite clay. The company also operates as a research and development specialist for customized products and solutions. The industries and applications served by U.S. Silica includes oil and gas, glass, chemicals, foundry, building products, fillers and extenders, recreation, industrial filtration and treatment, and testing and analysis. U.S. Silica Holdings, Inc. is headquartered in Frederick, Maryland. “
Several other equities analysts have also issued reports on SLCA. Vetr lowered U.S. Silica Holdings from a “strong-buy” rating to a “buy” rating and set a $40.31 price target on the stock. in a research note on Wednesday, August 3rd. Royal Bank Of Canada upped their price objective on U.S. Silica Holdings from $39.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday, July 19th. Jefferies Group upped their price objective on U.S. Silica Holdings from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Howard Weil upped their price objective on U.S. Silica Holdings from $32.00 to $35.00 and gave the company a “sector perform” rating in a research note on Thursday, August 4th. Finally, Cowen and Company upped their price objective on U.S. Silica Holdings from $42.00 to $52.00 and gave the company an “outperform” rating in a research note on Tuesday. Eight analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $37.99.
Shares of U.S. Silica Holdings (NYSE:SLCA) opened at 48.39 on Tuesday. U.S. Silica Holdings has a 52 week low of $13.54 and a 52 week high of $49.98. The firm’s 50-day moving average price is $43.45 and its 200 day moving average price is $33.86. The firm’s market capitalization is $3.08 billion.
U.S. Silica Holdings (NYSE:SLCA) last issued its quarterly earnings results on Tuesday, August 2nd. The mining company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.03. U.S. Silica Holdings had a negative return on equity of 7.76% and a negative net margin of 6.70%. The firm had revenue of $117 million for the quarter, compared to analyst estimates of $114.53 million. During the same period in the previous year, the company posted $0.08 earnings per share. The company’s quarterly revenue was down 20.7% compared to the same quarter last year. On average, analysts anticipate that U.S. Silica Holdings will post ($0.65) EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 4th. Investors of record on Thursday, September 15th were given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend was Tuesday, September 13th. U.S. Silica Holdings’s dividend payout ratio is currently -39.06%.
In other U.S. Silica Holdings news, SVP David D. Murry sold 6,352 shares of the stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $45.00, for a total transaction of $285,840.00. Following the completion of the transaction, the senior vice president now owns 14,839 shares in the company, valued at approximately $667,755. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Bradford B. Casper sold 12,273 shares of the stock in a transaction dated Thursday, September 29th. The stock was sold at an average price of $45.81, for a total value of $562,226.13. Following the transaction, the executive vice president now owns 18,699 shares of the company’s stock, valued at approximately $856,601.19. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. MCF Advisors LLC boosted its position in U.S. Silica Holdings by 73.5% in the second quarter. MCF Advisors LLC now owns 2,997 shares of the mining company’s stock worth $103,000 after buying an additional 1,270 shares during the period. BlackRock Inc. boosted its position in U.S. Silica Holdings by 171.3% in the first quarter. BlackRock Inc. now owns 4,710 shares of the mining company’s stock worth $108,000 after buying an additional 2,974 shares during the period. Panagora Asset Management Inc. purchased a new position in U.S. Silica Holdings during the second quarter worth about $153,000. Strs Ohio boosted its position in U.S. Silica Holdings by 2,600.0% in the second quarter. Strs Ohio now owns 5,400 shares of the mining company’s stock worth $186,000 after buying an additional 5,200 shares during the period. Finally, SevenBridge Financial Group LLC purchased a new position in U.S. Silica Holdings during the second quarter worth about $195,000. Hedge funds and other institutional investors own 97.26% of the company’s stock.
U.S. Silica Holdings Company Profile
U.S. Silica Holdings, Inc (U.S. Silica) 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, the Company serves the oil and gas recovery market providing fracturing sand, or frac sand.
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