Fairmount Santrol (FMSA) Shares Gap Down on Disappointing Earnings

Fairmount Santrol Holdings Inc (NYSE:FMSA)’s share price gapped down before the market opened on Friday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $4.48, but opened at $4.19. Fairmount Santrol shares last traded at $4.36, with a volume of 2278778 shares traded.

The industrial products company reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.04). Fairmount Santrol had a net margin of 1.69% and a return on equity of 4.05%. The business had revenue of $273.90 million during the quarter, compared to analyst estimates of $279.50 million. During the same quarter in the prior year, the business earned ($0.09) earnings per share. The firm’s quarterly revenue was up 94.9% on a year-over-year basis.

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FMSA has been the topic of a number of research analyst reports. Guggenheim upgraded Fairmount Santrol from a “neutral” rating to a “buy” rating and set a $7.00 target price on the stock in a research report on Monday, December 18th. Royal Bank of Canada set a $7.00 target price on Fairmount Santrol and gave the stock a “buy” rating in a research report on Thursday, December 21st. Zacks Investment Research cut Fairmount Santrol from a “hold” rating to a “sell” rating in a research report on Monday, January 8th. Piper Jaffray Companies reiterated a “buy” rating and set a $6.15 target price on shares of Fairmount Santrol in a research report on Tuesday, December 26th. Finally, B. Riley reiterated a “neutral” rating and set a $6.00 target price on shares of Fairmount Santrol in a research report on Wednesday, December 6th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $5.95.

In related news, EVP Gerald L. Clancey sold 10,477 shares of the firm’s stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $4.49, for a total transaction of $47,041.73. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jenniffer D. Deckard sold 6,450 shares of the firm’s stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $4.46, for a total value of $28,767.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,626 shares of company stock worth $128,051. Corporate insiders own 9.80% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP purchased a new stake in Fairmount Santrol in the 3rd quarter valued at approximately $101,000. GSA Capital Partners LLP boosted its holdings in Fairmount Santrol by 92.3% in the 3rd quarter. GSA Capital Partners LLP now owns 22,343 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 10,726 shares in the last quarter. Ferris Capital LLC purchased a new stake in Fairmount Santrol in the 4th quarter valued at approximately $126,000. NEXT Financial Group Inc boosted its holdings in Fairmount Santrol by 86.2% in the 4th quarter. NEXT Financial Group Inc now owns 24,200 shares of the industrial products company’s stock valued at $127,000 after purchasing an additional 11,200 shares in the last quarter. Finally, Chicago Equity Partners LLC purchased a new stake in Fairmount Santrol in the 4th quarter valued at approximately $135,000. 74.84% of the stock is currently owned by institutional investors.

The firm has a market capitalization of $970.32, a price-to-earnings ratio of 18.04 and a beta of 2.19. The company has a debt-to-equity ratio of 2.65, a quick ratio of 2.11 and a current ratio of 2.52.

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About Fairmount Santrol

Fairmount Santrol Holdings Inc is a provider of sand-based proppant solutions. The Company operates through two segments: Proppant Solutions, and Industrial & Recreational (I&R) Products. Its Proppant Solutions segment provides sand-based proppants for use in hydraulic fracturing operations throughout the United States and Canada, Argentina, Mexico, China, northern Europe and the United Arab Emirates.

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