Continental Investors Services Inc. Invests $814,000 in U.S. Silica Holdings, Inc. (NYSE:SLCA)

Posted by Defense World Staff on Mar 18th, 2023

Continental Investors Services Inc. bought a new stake in shares of U.S. Silica Holdings, Inc. (NYSE:SLCA – Get Rating) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 64,000 shares of the mining company’s stock, valued at approximately $814,000. Continental Investors Services Inc. owned approximately 0.08% of U.S. Silica at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Prudential Financial Inc. increased its stake in U.S. Silica by 67.5% in the third quarter. Prudential Financial Inc. now owns 186,101 shares of the mining company’s stock valued at $2,038,000 after purchasing an additional 74,965 shares in the last quarter. Chilton Capital Management LLC bought a new stake in U.S. Silica in the 2nd quarter valued at about $69,000. Great Lakes Advisors LLC acquired a new position in U.S. Silica during the 3rd quarter worth approximately $6,396,000. Texas Permanent School Fund boosted its holdings in U.S. Silica by 3.2% in the second quarter. Texas Permanent School Fund now owns 54,553 shares of the mining company’s stock worth $623,000 after acquiring an additional 1,686 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in U.S. Silica in the second quarter valued at approximately $145,000. Institutional investors and hedge funds own 82.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SLCA. Morgan Stanley dropped their price objective on shares of U.S. Silica from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 4th. StockNews.com downgraded U.S. Silica from a “buy” rating to a “hold” rating in a research note on Saturday, March 11th. Finally, Citigroup boosted their price objective on U.S. Silica from $13.50 to $15.00 and gave the stock a “neutral” rating in a report on Monday, March 6th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $17.40.

Insider Buying and Selling at U.S. Silica

In related news, CEO Bryan Adair Shinn sold 58,499 shares of the stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $13.99, for a total transaction of $818,401.01. Following the sale, the chief executive officer now owns 1,460,684 shares of the company’s stock, valued at approximately $20,434,969.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.20% of the company’s stock.

U.S. Silica Trading Down 0.2 %

NYSE:SLCA opened at $10.94 on Friday. U.S. Silica Holdings, Inc. has a 12 month low of $9.47 and a 12 month high of $21.54. The company has a current ratio of 2.42, a quick ratio of 1.87 and a debt-to-equity ratio of 1.47. The firm’s 50 day moving average is $12.02 and its 200 day moving average is $12.47. The stock has a market capitalization of $832.76 million, a PE ratio of 11.05 and a beta of 2.60.

U.S. Silica (NYSE:SLCA – Get Rating) last posted its quarterly earnings results on Friday, February 24th. The mining company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.08. U.S. Silica had a return on equity of 13.93% and a net margin of 5.13%. The company had revenue of $412.90 million during the quarter, compared to the consensus estimate of $403.45 million. During the same quarter in the prior year, the company earned ($0.22) EPS. The firm’s quarterly revenue was up 44.9% compared to the same quarter last year. Sell-side analysts expect that U.S. Silica Holdings, Inc. will post 1.72 earnings per share for the current year.

About U.S. Silica

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U.S. Silica Holdings, Inc engages in the provision of commercial silica products. It operates through the following segments: Oil and Gas Proppants, and Industrial and Specialty Products. The Oil and Gas Proppants segment focuses on delivering fracturing sand, which is pumped down oil and natural gas wells to prop open rock fissures and increase the flow rate of natural gas and oil from the wells.