Advisory Services Network LLC raised its position in Ciner Resources LP (NYSE:CINR) by 161.0% during the third quarter, Holdings Channel reports. The firm owned 9,697 shares of the company’s stock after buying an additional 5,981 shares during the period. Advisory Services Network LLC’s holdings in Ciner Resources were worth $302,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Acrospire Investment Management LLC increased its stake in shares of Ciner Resources by 45.0% in the second quarter. Acrospire Investment Management LLC now owns 3,958 shares of the company’s stock worth $111,000 after buying an additional 1,229 shares in the last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of Ciner Resources during the second quarter worth about $467,000. Mountain Lake Investment Management LLC increased its stake in shares of Ciner Resources by 1.0% in the second quarter. Mountain Lake Investment Management LLC now owns 250,000 shares of the company’s stock worth $7,005,000 after buying an additional 2,500 shares in the last quarter. U S Global Investors Inc. purchased a new stake in shares of Ciner Resources during the second quarter worth about $1,149,000. Finally, Eqis Capital Management Inc. purchased a new stake in shares of Ciner Resources during the third quarter worth about $263,000. 18.49% of the stock is currently owned by institutional investors and hedge funds.
Ciner Resources LP (NYSE:CINR) traded down 0.40% during mid-day trading on Friday, reaching $29.90. 15,307 shares of the company traded hands. The stock has a market capitalization of $599.55 million, a PE ratio of 13.21 and a beta of 1.16. Ciner Resources LP has a 52-week low of $18.81 and a 52-week high of $39.10. The stock has a 50-day moving average of $30.67 and a 200 day moving average of $29.77.
Ciner Resources (NYSE:CINR) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by $0.01. Ciner Resources had a net margin of 12.52% and a return on equity of 22.91%. The business earned $121 million during the quarter, compared to analysts’ expectations of $118.66 million. During the same period last year, the company earned $0.65 EPS. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. Equities research analysts expect that Ciner Resources LP will post $2.20 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 11th. Shareholders of record on Friday, October 28th were issued a $0.567 dividend. This represents a $2.27 annualized dividend and a dividend yield of 7.59%. The ex-dividend date was Wednesday, October 26th. Ciner Resources’s dividend payout ratio (DPR) is presently 100.00%.
CINR has been the subject of a number of recent analyst reports. DA Davidson initiated coverage on shares of Ciner Resources in a report on Thursday, October 6th. They set a “neutral” rating and a $33.00 price target for the company. Zacks Investment Research downgraded shares of Ciner Resources from a “hold” rating to a “sell” rating in a report on Tuesday, November 8th. Citigroup Inc. cut their price target on shares of Ciner Resources from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Monday, August 8th. Finally, FBR & Co restated a “buy” rating and set a $35.00 price target on shares of Ciner Resources in a report on Monday, August 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Ciner Resources currently has an average rating of “Hold” and an average price target of $30.25.
About Ciner Resources
Ciner Resources LP, formerly OCI Resources LP, owns a controlling interest consisting of 51% membership interest in Ciner Wyoming LLC (Ciner Wyoming). Ciner Wyoming produces soda ash and serves a global market from its facility in the Green River Basin of Wyoming. The Company processes trona ore into soda ash, a raw material in flat glass, container glass, detergents, chemicals, paper and other consumer and industrial products.