Vanguard Group Inc. Trims Position in Caesarstone Ltd (CSTE)

Vanguard Group Inc. trimmed its position in shares of Caesarstone Ltd (NASDAQ:CSTE) by 13.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,704 shares of the construction company’s stock after selling 11,205 shares during the period. Vanguard Group Inc. owned about 0.21% of Caesarstone worth $2,583,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rhumbline Advisers increased its stake in Caesarstone by 1.1% in the 2nd quarter. Rhumbline Advisers now owns 25,918 shares of the construction company’s stock worth $908,000 after purchasing an additional 279 shares during the period. Penserra Capital Management LLC increased its stake in shares of Caesarstone by 13.0% during the second quarter. Penserra Capital Management LLC now owns 3,328 shares of the construction company’s stock valued at $116,000 after buying an additional 384 shares during the period. Analyst IMS Investment Management Services Ltd. increased its stake in shares of Caesarstone by 0.3% during the second quarter. Analyst IMS Investment Management Services Ltd. now owns 132,815 shares of the construction company’s stock valued at $4,655,000 after buying an additional 441 shares during the period. Alliancebernstein L.P. increased its stake in shares of Caesarstone by 5.5% during the second quarter. Alliancebernstein L.P. now owns 30,700 shares of the construction company’s stock valued at $1,076,000 after buying an additional 1,600 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of Caesarstone by 63.5% during the second quarter. SG Americas Securities LLC now owns 4,577 shares of the construction company’s stock valued at $160,000 after buying an additional 1,778 shares during the period. 49.64% of the stock is currently owned by institutional investors.

Several research firms have recently issued reports on CSTE. Chardan Capital reissued a “neutral” rating and set a $32.00 target price (down from $43.00) on shares of Caesarstone in a research note on Tuesday, November 7th. JPMorgan Chase & Co. lowered Caesarstone from a “neutral” rating to an “underweight” rating and set a $25.00 price target on the stock. in a research report on Thursday, November 2nd. Finally, Zacks Investment Research lowered Caesarstone from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. Caesarstone currently has an average rating of “Hold” and a consensus price target of $35.00.

Shares of Caesarstone Ltd (NASDAQ CSTE) traded down $0.05 during trading hours on Friday, hitting $22.00. The stock had a trading volume of 218,888 shares, compared to its average volume of 324,037. The company has a market capitalization of $757.17, a P/E ratio of 16.18 and a beta of 2.10. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.20 and a current ratio of 3.31. Caesarstone Ltd has a 1 year low of $21.15 and a 1 year high of $44.00.

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Caesarstone Company Profile

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.

Institutional Ownership by Quarter for Caesarstone (NASDAQ:CSTE)

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