U.S. Silica Holdings Inc. (SLCA) Downgraded 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 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 research firms have also commented on SLCA. DA Davidson lowered shares of U.S. Silica Holdings from a “buy” rating to a “neutral” rating and set a $36.00 target price for the company. in a research report on Monday, June 13th. They noted that the move was a valuation call. Jefferies Group upgraded shares of U.S. Silica Holdings from a “hold” rating to a “buy” rating and increased their target price for the company from $25.00 to $41.00 in a research report on Monday, July 11th. Citigroup Inc. increased their target price on shares of U.S. Silica Holdings from $32.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, July 13th. Royal Bank Of Canada increased their target price on shares of U.S. Silica Holdings from $39.00 to $44.00 and gave the company an “outperform” rating in a research report on Tuesday, July 19th. Finally, Cowen and Company increased their target price on shares of U.S. Silica Holdings from $29.00 to $42.00 and gave the company an “outperform” rating in a research report on Wednesday, July 20th. Eight investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $36.76.
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U.S. Silica Holdings (NYSE:SLCA) traded down 0.96% during trading on Tuesday, hitting $48.53. 391,479 shares of the stock were exchanged. The firm’s market cap is $3.09 billion. U.S. Silica Holdings has a 12-month low of $13.54 and a 12-month high of $49.98. The stock’s 50-day moving average price is $43.01 and its 200-day moving average price is $33.64.
U.S. Silica Holdings (NYSE:SLCA) last released its quarterly earnings results on Tuesday, August 2nd. The mining company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.03. The business earned $117 million during the quarter, compared to analyst estimates of $114.53 million. U.S. Silica Holdings had a negative net margin of 6.70% and a negative return on equity of 7.76%. The company’s quarterly revenue was down 20.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.08 earnings per share. On average, equities analysts expect that U.S. Silica Holdings will post ($0.65) EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 4th. Stockholders 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 0.51%. The ex-dividend date of this dividend was Tuesday, September 13th. U.S. Silica Holdings’s dividend payout ratio (DPR) is -39.06%.
In other news, SVP Don D. Weinheimer sold 30,000 shares of the stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $42.00, for a total value of $1,260,000.00. Following the completion of the sale, the senior vice president now directly owns 38,130 shares of the company’s stock, valued at $1,601,460. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michael L. Winkler sold 64,123 shares of the stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $42.00, for a total transaction of $2,693,166.00. Following the completion of the sale, the chief operating officer now directly owns 57,674 shares of the company’s stock, valued at $2,422,308. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of SLCA. MCF Advisors LLC raised its stake 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. raised its position in shares of U.S. Silica Holdings by 171.3% in the first quarter. BlackRock Inc. now owns 4,710 shares of the mining company’s stock valued at $108,000 after buying an additional 2,974 shares during the last quarter. Panagora Asset Management Inc. acquired a new position in shares of U.S. Silica Holdings during the second quarter valued at $153,000. Strs Ohio raised its position in shares of 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 valued at $186,000 after buying an additional 5,200 shares during the last quarter. Finally, SevenBridge Financial Group LLC acquired a new position in shares of U.S. Silica Holdings during the second quarter valued at $195,000. 97.26% of the stock is owned by institutional investors and hedge funds.
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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