Nationwide Fund Advisors Has $1.41 Million Holdings in U.S. Silica Holdings Inc (SLCA)
Nationwide Fund Advisors reduced its holdings in U.S. Silica Holdings Inc (NYSE:SLCA) by 8.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 45,435 shares of the mining company’s stock after selling 4,329 shares during the quarter. Nationwide Fund Advisors owned about 0.06% of U.S. Silica worth $1,412,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the company. Fox Run Management L.L.C. purchased a new position in shares of U.S. Silica in the third quarter worth about $724,000. Viking Fund Management LLC raised its stake in shares of U.S. Silica by 4.1% during the 3rd quarter. Viking Fund Management LLC now owns 685,000 shares of the mining company’s stock worth $21,283,000 after buying an additional 27,000 shares during the period. Verde Servicos Internacionais S.A. acquired a new position in shares of U.S. Silica during the 3rd quarter worth approximately $201,000. Sentry Investment Management LLC acquired a new position in shares of U.S. Silica during the 2nd quarter worth approximately $221,000. Finally, Ashburton Jersey Ltd raised its stake in shares of U.S. Silica by 54.9% during the 2nd quarter. Ashburton Jersey Ltd now owns 49,482 shares of the mining company’s stock worth $1,756,000 after buying an additional 17,530 shares during the period.
Several brokerages have recently weighed in on SLCA. B. Riley began coverage on U.S. Silica in a research note on Wednesday, December 6th. They set a “buy” rating and a $40.00 target price for the company. Piper Jaffray Companies reissued a “buy” rating and issued a $40.50 price objective on shares of U.S. Silica in a research note on Friday, November 10th. Jefferies Group set a $43.00 price objective on U.S. Silica and gave the company a “buy” rating in a research note on Monday, November 13th. Seaport Global Securities began coverage on U.S. Silica in a research note on Friday, December 8th. They issued a “buy” rating and a $59.00 price objective for the company. Finally, Wolfe Research downgraded U.S. Silica from a “market perform” rating to an “underperform” rating in a research note on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nineteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $48.35.
Shares of U.S. Silica Holdings Inc (SLCA) opened at $33.28 on Wednesday. The company has a quick ratio of 3.26, a current ratio of 3.67 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $2,661.04, a price-to-earnings ratio of 41.60 and a beta of 2.32. 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 issued its earnings results on Monday, November 6th. The mining company reported $0.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.02. The company had revenue of $345.00 million during the quarter, compared to analysts’ expectations of $328.91 million. U.S. Silica had a return on equity of 5.73% and a net margin of 6.24%. The firm’s quarterly revenue was up 150.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.13) EPS. equities research analysts anticipate that U.S. Silica Holdings Inc will post 1.54 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 15th will be issued a $0.063 dividend. This represents a $0.25 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Thursday, December 14th. U.S. Silica’s payout ratio is currently 31.25%.
U.S. Silica declared that its board has authorized a share repurchase program on Monday, November 6th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the mining company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.
In related news, Director Charles W. Shaver bought 3,300 shares of the company’s stock in a transaction on Tuesday, December 12th. The stock was bought at an average cost of $33.99 per share, for a total transaction of $112,167.00. Following the acquisition, the director now directly owns 29,829 shares in the company, valued at $1,013,887.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Bradford B. Casper sold 8,700 shares of the stock in a transaction on Monday, December 18th. The stock was sold at an average price of $34.21, for a total value of $297,627.00. Following the transaction, the executive vice president now owns 18,593 shares of the company’s stock, valued at $636,066.53. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 7,900 shares of company stock valued at $256,063. 1.00% of the stock is owned by company insiders.
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About U.S. Silica
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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