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 to clients and investors 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. “
A number of other equities research analysts also recently weighed in on the company. Cowen and Company raised their price target on U.S. Silica Holdings from $42.00 to $52.00 and gave the company an “outperform” rating in a research report on Tuesday. Johnson Rice began coverage on U.S. Silica Holdings in a research report on Monday. They set an “accumulate” rating on the stock. Raymond James Financial Inc. raised their price target on U.S. Silica Holdings from $44.00 to $56.00 and gave the company an “outperform” rating in a research report on Friday, September 23rd. RBC Capital Markets restated a “buy” rating and set a $56.00 price target (up previously from $44.00) on shares of U.S. Silica Holdings in a research report on Friday, September 23rd. Finally, Royal Bank Of Canada raised their price target on U.S. Silica Holdings from $44.00 to $56.00 and gave the company an “outperform” rating in a research report on Friday, September 23rd. Eight analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $36.76.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/11/u-s-silica-holdings-inc-slca-rating-lowered-to-hold-at-zacks-investment-research.html
Shares of U.S. Silica Holdings (NYSE:SLCA) traded down 1.20% during midday trading on Tuesday, hitting $48.41. The company had a trading volume of 456,699 shares. 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 is $43.01 and its 200 day moving average is $33.64. The company’s market capitalization is $3.08 billion.
U.S. Silica Holdings (NYSE:SLCA) last released its quarterly earnings results on Tuesday, August 2nd. The mining company reported ($0.19) earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $117 million for the quarter, compared to the consensus estimate of $114.53 million. During the same quarter last year, the business posted $0.08 earnings per share. The company’s revenue for the quarter was down 20.7% on a year-over-year basis. Equities research 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. Shareholders of record on Thursday, September 15th were given a dividend of $0.0625 per share. The ex-dividend date was Tuesday, September 13th. This represents a $0.25 annualized dividend and a yield of 0.51%. U.S. Silica Holdings’s payout ratio is -39.06%.
In other news, COO Michael L. Winkler sold 64,123 shares of the business’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $42.00, for a total value of $2,693,166.00. Following the sale, the chief operating officer now directly owns 57,674 shares of the company’s stock, valued at approximately $2,422,308. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Bradford B. Casper sold 12,273 shares of the business’s stock in a transaction that occurred on Thursday, September 29th. The stock was sold at an average price of $45.81, for a total value of $562,226.13. Following the completion of the sale, the executive vice president now directly owns 18,699 shares in the company, valued at $856,601.19. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of U.S. Silica Holdings by 3.5% in the second quarter. Vanguard Group Inc. now owns 5,288,558 shares of the mining company’s stock worth $182,297,000 after buying an additional 180,070 shares in the last quarter. BlackRock Fund Advisors boosted its stake in shares of U.S. Silica Holdings by 4.1% in the second quarter. BlackRock Fund Advisors now owns 4,288,195 shares of the mining company’s stock worth $147,814,000 after buying an additional 166,925 shares in the last quarter. State Street Corp boosted its stake in shares of U.S. Silica Holdings by 18.3% in the first quarter. State Street Corp now owns 1,585,269 shares of the mining company’s stock worth $36,017,000 after buying an additional 245,209 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of U.S. Silica Holdings by 5.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,556,088 shares of the mining company’s stock worth $53,638,000 after buying an additional 75,699 shares in the last quarter. Finally, Waddell & Reed Financial Inc. boosted its stake in shares of U.S. Silica Holdings by 55.8% in the second quarter. Waddell & Reed Financial Inc. now owns 1,367,700 shares of the mining company’s stock worth $47,145,000 after buying an additional 489,920 shares in the last quarter. 97.26% of the stock is currently owned by hedge funds and other institutional investors.
About U.S. Silica Holdings
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for U.S. Silica Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U.S. Silica Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.