Alliancebernstein L.P. reduced its holdings in Caesarstone (NASDAQ:CSTE) by 35.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 19,800 shares of the construction company’s stock after selling 10,900 shares during the quarter. Alliancebernstein L.P. owned approximately 0.06% of Caesarstone worth $436,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in CSTE. SG Americas Securities LLC increased its position in shares of Caesarstone by 53.9% during the third 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. Capital Fund Management S.A. acquired a new stake in shares of Caesarstone during the fourth quarter worth $290,000. Lapides Asset Management LLC acquired a new stake in shares of Caesarstone during the fourth quarter worth $308,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Caesarstone during the third quarter worth $332,000. Finally, Virtu Financial LLC acquired a new stake in shares of Caesarstone during the fourth quarter worth $350,000. Hedge funds and other institutional investors own 53.89% of the company’s stock.
NASDAQ:CSTE opened at $19.45 on Wednesday. The company has a quick ratio of 1.92, a current ratio of 2.97 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $676.67, a price-to-earnings ratio of 14.62 and a beta of 1.73. Caesarstone has a 12 month low of $18.35 and a 12 month high of $44.00.
Several research firms have recently weighed in on CSTE. Zacks Investment Research upgraded shares of Caesarstone from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 10th. JPMorgan Chase decreased their price objective on shares of Caesarstone from $21.00 to $19.00 and set an “underweight” rating for the company in a research report on Friday, March 23rd. ValuEngine cut shares of Caesarstone from a “hold” rating to a “sell” rating in a research report on Monday, April 2nd. BidaskClub upgraded shares of Caesarstone from a “strong sell” rating to a “sell” rating in a report on Friday, April 6th. Finally, Credit Suisse Group upgraded shares of Caesarstone to a “hold” rating and set a $21.00 price target for the company in a report on Wednesday, February 7th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $30.60.
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Caesarstone Ltd., together with its subsidiaries, manufactures and sells engineered quartz surfaces under the Caesarstone brand in the United States, Australia, Canada, Israel, Europe, and internationally. Its engineered quartz slabs are used as countertops in residential kitchens, as well as serve the renovation and remodeling market.
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