Ciner Resources LP (NYSE:CINR) Shares Sold by Pointe Capital Management LLC
Pointe Capital Management LLC lowered its position in Ciner Resources LP (NYSE:CINR) by 2.0% during the second quarter, Holdings Channel reports. The institutional investor owned 25,314 shares of the basic materials company’s stock after selling 509 shares during the period. Pointe Capital Management LLC’s holdings in Ciner Resources were worth $694,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Creative Planning boosted its stake in shares of Ciner Resources by 49.4% in the first quarter. Creative Planning now owns 3,735 shares of the basic materials company’s stock valued at $107,000 after buying an additional 1,235 shares during the period. Central Bank & Trust Co. bought a new stake in shares of Ciner Resources during the first quarter valued at about $181,000. Advisory Services Network LLC bought a new stake in shares of Ciner Resources during the first quarter valued at about $305,000. Russell Investments Group Ltd. boosted its stake in shares of Ciner Resources by 5.2% in the first quarter. Russell Investments Group Ltd. now owns 21,461 shares of the basic materials company’s stock valued at $612,000 after buying an additional 1,059 shares during the period. Finally, U S Global Investors Inc boosted its stake in shares of Ciner Resources by 29.1% in the first quarter. U S Global Investors Inc now owns 46,200 shares of the basic materials company’s stock valued at $1,318,000 after buying an additional 10,400 shares during the period. Institutional investors own 9.01% of the company’s stock.
Shares of Ciner Resources LP (CINR) opened at 23.82 on Thursday. Ciner Resources LP has a 52 week low of $22.61 and a 52 week high of $32.50. The company has a market capitalization of $479.43 million, a PE ratio of 11.29 and a beta of 0.97. The company has a 50 day moving average price of $27.20 and a 200 day moving average price of $28.37.
Ciner Resources (NYSE:CINR) last announced its quarterly earnings results on Monday, August 7th. The basic materials company reported $0.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by $0.12. Ciner Resources had a net margin of 8.18% and a return on equity of 15.65%. The firm had revenue of $119.70 million during the quarter, compared to the consensus estimate of $129.20 million. During the same period in the previous year, the business earned $0.52 earnings per share. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, equities research analysts expect that Ciner Resources LP will post $1.93 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Monday, August 7th will be issued a dividend of $0.567 per share. This is an increase from Ciner Resources’s previous quarterly dividend of $0.56. This represents a $2.27 dividend on an annualized basis and a dividend yield of 9.52%. The ex-dividend date of this dividend is Thursday, August 3rd. Ciner Resources’s payout ratio is currently 114.07%.
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Several equities research analysts recently issued reports on the company. Zacks Investment Research cut Ciner Resources from a “hold” rating to a “sell” rating in a research note on Thursday, May 11th. BidaskClub cut Ciner Resources from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 6th. Finally, ValuEngine cut Ciner Resources from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $32.50.
Ciner Resources Company Profile
Ciner Resources LP, through its subsidiary, Ciner Wyoming LLC (Ciner Wyoming), produces soda ash and serves a global market from its facility in the Green River Basin of Wyoming. The Company processes trona ore into soda ash, a raw material in flat glass, container glass, detergents, chemicals, paper and other consumer and industrial products.
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