Wall Street Zen upgraded shares of Smart Sand (NASDAQ:SND – Free Report) from a hold rating to a buy rating in a research note published on Saturday.
Separately, Weiss Ratings upgraded shares of Smart Sand from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Smart Sand currently has an average rating of “Hold”.
Check Out Our Latest Report on SND
Smart Sand Stock Performance
Smart Sand (NASDAQ:SND – Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.10) EPS for the quarter. The business had revenue of $93.11 million for the quarter.
Smart Sand Announces Dividend
The firm also recently announced a special dividend, which was paid on Tuesday, May 5th. Shareholders of record on Wednesday, April 22nd were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, April 22nd.
Smart Sand announced that its Board of Directors has authorized a stock buyback plan on Thursday, February 26th that permits the company to buyback $20.00 million in shares. This buyback authorization permits the company to reacquire up to 8.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.
Insider Buying and Selling at Smart Sand
In related news, Director Francis Michael Porcelli sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $3.87, for a total transaction of $290,250.00. Following the completion of the sale, the director owned 744,060 shares of the company’s stock, valued at $2,879,512.20. This trade represents a 9.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 375,000 shares of company stock worth $1,485,250 over the last ninety days. 34.00% of the stock is owned by company insiders.
Institutional Investors Weigh In On Smart Sand
Several institutional investors and hedge funds have recently made changes to their positions in the company. Gendell Jeffrey L increased its position in shares of Smart Sand by 16.0% during the fourth quarter. Gendell Jeffrey L now owns 3,126,915 shares of the company’s stock valued at $12,508,000 after acquiring an additional 430,507 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Smart Sand by 59.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 798,823 shares of the company’s stock valued at $4,090,000 after acquiring an additional 298,017 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Smart Sand by 25.6% during the first quarter. Dimensional Fund Advisors LP now owns 798,809 shares of the company’s stock valued at $4,090,000 after acquiring an additional 162,823 shares in the last quarter. Bridgeway Capital Management LLC increased its position in shares of Smart Sand by 3.4% during the fourth quarter. Bridgeway Capital Management LLC now owns 610,034 shares of the company’s stock valued at $2,440,000 after acquiring an additional 20,213 shares in the last quarter. Finally, JB Capital Partners LP increased its position in shares of Smart Sand by 31.4% during the third quarter. JB Capital Partners LP now owns 460,000 shares of the company’s stock valued at $984,000 after acquiring an additional 110,000 shares in the last quarter. Institutional investors own 35.21% of the company’s stock.
Smart Sand Company Profile
Smart Sand, Inc (NASDAQ:SND) is a U.S.-based industrial mineral company specializing in the mining, processing and distribution of high-purity silica sand. The company’s primary business centers on the production of frac sand for the oil and gas industry, as well as specialty sand products for foundry, glass and construction applications. Through an integrated network of mines, processing plants and trans-load facilities, Smart Sand delivers precision-engineered sand solutions designed to meet stringent performance and purity requirements.
Smart Sand’s operations include flagship mining and processing facilities in Wisconsin, which supply Northern White silica sand, and production sites in Texas, strategically located to serve major U.S.
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