ING Groep NV Sells 1,950,552 Shares of Hi-Crush Partners LP (HCLP)

ING Groep NV trimmed its stake in Hi-Crush Partners LP (NYSE:HCLP) by 81.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 450,000 shares of the basic materials company’s stock after selling 1,950,552 shares during the period. ING Groep NV’s holdings in Hi-Crush Partners were worth $4,815,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its position in Hi-Crush Partners by 70.1% during the second quarter. Bank of New York Mellon Corp now owns 20,462 shares of the basic materials company’s stock valued at $222,000 after acquiring an additional 8,431 shares during the last quarter. Principal Financial Group Inc. boosted its position in Hi-Crush Partners by 11.0% during the second quarter. Principal Financial Group Inc. now owns 30,720 shares of the basic materials company’s stock valued at $333,000 after acquiring an additional 3,053 shares during the last quarter. Wells Fargo & Company MN boosted its position in Hi-Crush Partners by 252.3% during the second quarter. Wells Fargo & Company MN now owns 52,318 shares of the basic materials company’s stock valued at $568,000 after acquiring an additional 37,469 shares during the last quarter. Stifel Financial Corp boosted its position in Hi-Crush Partners by 67.7% during the second quarter. Stifel Financial Corp now owns 27,238 shares of the basic materials company’s stock valued at $296,000 after acquiring an additional 11,000 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in Hi-Crush Partners by 31.7% during the second quarter. Royal Bank of Canada now owns 45,522 shares of the basic materials company’s stock valued at $494,000 after acquiring an additional 10,950 shares during the last quarter. Institutional investors and hedge funds own 43.02% of the company’s stock.

A number of analysts have commented on HCLP shares. Piper Jaffray Companies set a $12.00 price target on shares of Hi-Crush Partners and gave the company a “buy” rating in a research report on Tuesday, October 31st. Zacks Investment Research cut shares of Hi-Crush Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Barclays started coverage on shares of Hi-Crush Partners in a research report on Friday, December 15th. They set an “equal weight” rating and a $12.00 price target on the stock. Seaport Global Securities started coverage on shares of Hi-Crush Partners in a research report on Friday, December 8th. They set a “buy” rating and a $17.00 price target on the stock. Finally, Cowen set a $12.00 price target on shares of Hi-Crush Partners and gave the company a “buy” rating in a research report on Wednesday, October 18th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Hi-Crush Partners presently has a consensus rating of “Buy” and an average price target of $16.62.

Hi-Crush Partners LP (NYSE HCLP) opened at $11.30 on Friday. The stock has a market cap of $1,030.00, a PE ratio of 35.31 and a beta of 1.04. The company has a current ratio of 1.77, a quick ratio of 1.29 and a debt-to-equity ratio of 0.24. Hi-Crush Partners LP has a 1 year low of $7.25 and a 1 year high of $23.30.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 13th. Stockholders of record on Thursday, February 1st will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 7.08%. The ex-dividend date is Wednesday, January 31st. This is a boost from Hi-Crush Partners’s previous quarterly dividend of $0.15. Hi-Crush Partners’s dividend payout ratio is 250.00%.

Hi-Crush Partners declared that its board has initiated a share buyback program on Tuesday, October 17th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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Hi-Crush Partners Company Profile

Hi-Crush Partners LP is an integrated producer, transporter, marketer and distributor of monocrystalline sand, a specialized mineral that is used as a proppant to manage the recovery rates of hydrocarbons from oil and natural gas wells. Its reserves consist of northern white sand, a resource in Wisconsin and limited portions of the upper Midwest region of the United States.

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Institutional Ownership by Quarter for Hi-Crush Partners (NYSE:HCLP)

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