Public Employees Retirement System of Ohio Grows Holdings in U.S. Silica Holdings Inc (SLCA)
Public Employees Retirement System of Ohio grew its holdings in shares of U.S. Silica Holdings Inc (NYSE:SLCA) by 42.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,908 shares of the mining company’s stock after buying an additional 14,546 shares during the quarter. Public Employees Retirement System of Ohio owned 0.06% of U.S. Silica worth $1,520,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in SLCA. Riverhead Capital Management LLC lifted its position in shares of 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 purchasing an additional 1,726 shares in the last quarter. QS Investors LLC lifted its position in shares of 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 purchasing an additional 18 shares in the last quarter. Sentry Investment Management LLC acquired a new position in shares of U.S. Silica during the second quarter worth $221,000. Verde Servicos Internacionais S.A. acquired a new position in shares of U.S. Silica during the third quarter worth $201,000. Finally, Ameritas Investment Partners Inc. lifted its position in shares of U.S. Silica by 13.3% during the second 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 in the last quarter.
Shares of U.S. Silica Holdings Inc (SLCA) opened at $36.00 on Thursday. The stock has a market cap of $2,920.00, a price-to-earnings ratio of 45.00 and a beta of 2.33. The company has a quick ratio of 3.26, a current ratio of 3.67 and a debt-to-equity ratio of 0.39. U.S. Silica Holdings Inc has a twelve month low of $24.26 and a twelve month high of $61.49.
U.S. Silica (NYSE:SLCA) last posted its quarterly earnings results on Monday, November 6th. The mining company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.02. The firm had revenue of $345.00 million for the quarter, compared to analysts’ expectations of $328.91 million. U.S. Silica had a net margin of 6.24% and a return on equity of 5.73%. The firm’s quarterly revenue was up 150.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.13) earnings per share. equities analysts predict that U.S. Silica Holdings Inc will post 1.54 EPS for the current fiscal year.
U.S. Silica announced that its board has authorized a stock repurchase plan on Monday, November 6th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the mining company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 15th will be issued a $0.063 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.25 annualized dividend and a yield of 0.70%. U.S. Silica’s dividend payout ratio is presently 31.25%.
In other U.S. Silica news, Director Charles W. Shaver bought 3,300 shares of the stock in a transaction on Tuesday, December 12th. The stock was purchased at an average price 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 in the company, valued at $1,013,887.71. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Bradford B. Casper sold 8,700 shares of the business’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $34.21, for a total transaction of $297,627.00. Following the sale, the executive vice president now owns 18,593 shares of the company’s stock, valued at approximately $636,066.53. The disclosure for this sale can be found here. Insiders purchased 7,900 shares of company stock worth $256,063 over the last ninety days. 1.00% of the stock is currently owned by corporate insiders.
SLCA has been the topic of a number of recent research reports. Piper Jaffray Companies reissued a “buy” rating and set a $36.00 target price on shares of U.S. Silica in a research report on Thursday, October 19th. Zacks Investment Research raised shares of U.S. Silica from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research report on Tuesday, October 24th. B. Riley initiated coverage on shares of U.S. Silica in a research report on Wednesday, December 6th. They set a “buy” rating and a $40.00 target price on the stock. Credit Suisse Group reduced their target price on shares of U.S. Silica from $43.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 8th. Finally, Wolfe Research cut shares of U.S. Silica from a “market perform” rating to an “underperform” rating in a research report on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nineteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $48.35.
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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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