Bamco Inc. NY lessened its holdings in Caesarstone Ltd (NASDAQ:CSTE) by 82.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 148,310 shares of the construction company’s stock after selling 700,895 shares during the period. Bamco Inc. NY’s holdings in Caesarstone were worth $3,263,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also modified their holdings of CSTE. SG Americas Securities LLC increased its holdings in Caesarstone by 53.9% in the 3rd quarter. SG Americas Securities LLC now owns 7,042 shares of the construction company’s stock worth $210,000 after buying an additional 2,465 shares during the period. Janney Capital Management LLC acquired a new position in Caesarstone in the 3rd quarter worth approximately $213,000. Stevens Capital Management LP acquired a new position in Caesarstone in the 3rd quarter worth approximately $226,000. Capital Fund Management S.A. acquired a new position in Caesarstone in the 4th quarter worth approximately $290,000. Finally, Lapides Asset Management LLC acquired a new position in Caesarstone in the 4th quarter worth approximately $308,000. Institutional investors own 51.99% of the company’s stock.
Several equities analysts recently weighed in on the stock. BidaskClub upgraded shares of Caesarstone from a “strong sell” rating to a “sell” rating in a report on Thursday, February 8th. Zacks Investment Research raised shares of Caesarstone from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 2nd. Credit Suisse Group raised shares of Caesarstone to a “hold” rating and set a $21.00 price objective on the stock in a research note on Wednesday, February 7th. Finally, Chardan Capital raised shares of Caesarstone from a “neutral” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Monday, January 8th. Three analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. Caesarstone currently has an average rating of “Hold” and an average target price of $31.80.
Caesarstone (NASDAQ:CSTE) last issued its quarterly earnings data on Wednesday, February 7th. The construction company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.08). The firm had revenue of $148.14 million for the quarter, compared to analyst estimates of $144.97 million. Caesarstone had a return on equity of 8.50% and a net margin of 4.52%. Caesarstone’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.53 EPS. research analysts forecast that Caesarstone Ltd will post 1.36 earnings per share for the current fiscal year.
The company also recently disclosed a dividend, which will be paid on Wednesday, March 14th. Stockholders of record on Wednesday, February 21st will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Tuesday, February 20th.
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Caesarstone Ltd., formerly Caesarstone Sdot-Yam Ltd., is a manufacturer of engineered quartz surfaces. The Company’s products consist of engineered quartz, which are installed as countertops in residential kitchens. Its products are primarily used as kitchen countertops in the renovation, remodeling and residential construction end markets.
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