Wells Fargo & Company MN Sells 2,358 Shares of Caesarstone Ltd (NASDAQ:CSTE)

Wells Fargo & Company MN trimmed its holdings in shares of Caesarstone Ltd (NASDAQ:CSTE) by 16.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 11,748 shares of the construction company’s stock after selling 2,358 shares during the period. Wells Fargo & Company MN’s holdings in Caesarstone were worth $177,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado lifted its holdings in shares of Caesarstone by 29.8% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 5,667 shares of the construction company’s stock worth $85,000 after acquiring an additional 1,301 shares during the period. Strs Ohio lifted its holdings in Caesarstone by 40.9% during the 2nd quarter. Strs Ohio now owns 36,200 shares of the construction company’s stock valued at $544,000 after purchasing an additional 10,500 shares during the last quarter. Municipal Employees Retirement System of Michigan bought a new position in Caesarstone during the 2nd quarter valued at about $548,000. Sphera Funds Management LTD. lifted its holdings in Caesarstone by 1.9% during the 1st quarter. Sphera Funds Management LTD. now owns 478,114 shares of the construction company’s stock valued at $7,463,000 after purchasing an additional 8,954 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its holdings in Caesarstone by 0.3% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 653,597 shares of the construction company’s stock valued at $9,824,000 after purchasing an additional 1,810 shares during the last quarter. 45.59% of the stock is owned by institutional investors.

Several equities analysts recently issued reports on CSTE shares. Stifel Nicolaus raised shares of Caesarstone from a “hold” rating to a “buy” rating and lifted their price target for the company from $17.00 to $19.00 in a report on Thursday, August 8th. Zacks Investment Research raised shares of Caesarstone from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a report on Wednesday. BidaskClub raised shares of Caesarstone from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. Finally, ValuEngine downgraded shares of Caesarstone from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $16.33.

Shares of CSTE stock opened at $16.57 on Friday. Caesarstone Ltd has a 12-month low of $12.49 and a 12-month high of $17.95. The company has a market capitalization of $570.01 million, a P/E ratio of 23.01 and a beta of 1.52. The firm has a 50-day moving average price of $15.71 and a 200 day moving average price of $15.19. The company has a quick ratio of 1.98, a current ratio of 3.24 and a debt-to-equity ratio of 0.15.

Caesarstone (NASDAQ:CSTE) last announced its quarterly earnings results on Wednesday, August 7th. The construction company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.05. Caesarstone had a net margin of 3.20% and a return on equity of 3.80%. The firm had revenue of $141.07 million during the quarter, compared to the consensus estimate of $147.02 million. During the same period last year, the firm posted $0.43 EPS. The firm’s quarterly revenue was down 5.5% on a year-over-year basis. As a group, research analysts expect that Caesarstone Ltd will post 0.7 earnings per share for the current year.

Caesarstone Company Profile

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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Institutional Ownership by Quarter for Caesarstone (NASDAQ:CSTE)

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