Arrowstreet Capital Limited Partnership Buys 298,017 Shares of Smart Sand $SND

Key Points

• Arrowstreet Capital increased its Smart Sand stake by 59.5%, purchasing 298,017 additional shares to own 798,823 shares, or 1.86% of the company valued at approximately $4.09 million.
• Smart Sand’s institutional ownership stands at 35.21%, while analyst sentiment remains cautious: coverage currently reflects an average “Hold” rating.
• The stock opened at $4.32 with a $185.72 million market capitalization. Smart Sand also announced a special $0.10-per-share dividend, payable August 12 to shareholders of record July 28.

Arrowstreet Capital Limited Partnership grew its stake in Smart Sand (NASDAQ:SND - Free Report) by 59.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 798,823 shares of the company's stock after buying an additional 298,017 shares during the period. Arrowstreet Capital Limited Partnership owned 1.86% of Smart Sand worth $4,090,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Goldman Sachs Group Inc. acquired a new position in shares of Smart Sand in the 1st quarter valued at about $26,000. Squarepoint Ops LLC acquired a new position in shares of Smart Sand during the 4th quarter valued at $57,000. Balyasny Asset Management L.P. acquired a new position in shares of Smart Sand during the 4th quarter valued at $59,000. LPL Financial LLC boosted its stake in Smart Sand by 36.7% during the fourth quarter. LPL Financial LLC now owns 14,900 shares of the company's stock worth $60,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Occudo Quantitative Strategies LP bought a new position in Smart Sand during the fourth quarter worth $71,000. 35.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SND has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Smart Sand from a "buy" rating to a "hold" rating in a research note on Saturday. Weiss Ratings reissued a "hold (c)" rating on shares of Smart Sand in a research report on Monday, July 20th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of "Hold".

Smart Sand Stock Up 0.2%

SND stock opened at $4.32 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.05 and a current ratio of 1.66. The company has a market capitalization of $185.72 million, a price-to-earnings ratio of 7.85 and a beta of 0.30. Smart Sand has a fifty-two week low of $1.76 and a fifty-two week high of $5.92. The stock has a fifty day moving average of $4.84 and a 200-day moving average of $4.79.

Smart Sand (NASDAQ:SND - Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.10) earnings per share (EPS) for the quarter. The company had revenue of $93.11 million during the quarter.

Smart Sand Announces Dividend

The firm also recently announced a special dividend, which will be paid on Wednesday, August 12th. Stockholders of record on Tuesday, July 28th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, July 28th.

Smart Sand 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.

Want to see what other hedge funds are holding SND? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Smart Sand (NASDAQ:SND - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.