Caesarstone Ltd. (CSTE) To Go Ex-Dividend on August 16th

Caesarstone Ltd. (NASDAQ:CSTEGet Rating) announced a quarterly dividend on Thursday, August 4th, Wall Street Journal reports. Stockholders of record on Wednesday, August 17th will be given a dividend of 0.25 per share by the construction company on Wednesday, September 7th. This represents a $1.00 annualized dividend and a dividend yield of 9.97%. The ex-dividend date is Tuesday, August 16th. This is a boost from Caesarstone’s previous quarterly dividend of $0.10.

Caesarstone has decreased its dividend by an average of 19.3% annually over the last three years.

Caesarstone Stock Down 0.5 %

Caesarstone stock opened at $10.03 on Friday. Caesarstone has a fifty-two week low of $8.20 and a fifty-two week high of $14.43. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.09 and a current ratio of 2.33. The firm has a 50 day moving average price of $9.30 and a 200 day moving average price of $10.31. The company has a market capitalization of $345.73 million, a PE ratio of 17.91 and a beta of 0.65.

Caesarstone (NASDAQ:CSTEGet Rating) last posted its earnings results on Wednesday, May 11th. The construction company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.01). Caesarstone had a net margin of 2.98% and a return on equity of 3.37%. The company had revenue of $170.44 million during the quarter, compared to analyst estimates of $176.95 million. During the same quarter last year, the business posted $0.41 EPS. Research analysts expect that Caesarstone will post 0.85 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Caesarstone from a “buy” rating to a “hold” rating in a report on Friday.

Hedge Funds Weigh In On Caesarstone

Institutional investors have recently modified their holdings of the business. Hsbc Holdings PLC purchased a new stake in shares of Caesarstone during the 1st quarter worth $142,000. Swiss National Bank lifted its position in shares of Caesarstone by 6.7% during the 1st quarter. Swiss National Bank now owns 57,400 shares of the construction company’s stock worth $604,000 after purchasing an additional 3,600 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of Caesarstone by 20.3% during the 1st quarter. HighTower Advisors LLC now owns 64,190 shares of the construction company’s stock worth $678,000 after purchasing an additional 10,833 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Caesarstone by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 107,753 shares of the construction company’s stock worth $1,134,000 after purchasing an additional 2,068 shares during the last quarter. Finally, LSV Asset Management lifted its position in shares of Caesarstone by 6.0% during the 1st quarter. LSV Asset Management now owns 198,800 shares of the construction company’s stock worth $2,091,000 after purchasing an additional 11,192 shares during the last quarter. Institutional investors and hedge funds own 50.36% of the company’s stock.

About Caesarstone

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Caesarstone Ltd., together with its subsidiaries, develops, manufactures, and markets engineered quartz and other surfaces under the Caesarstone brand in the United States, Australia, Canada, Latin America, Asia, Israel, Europe, the Middle East, and Africa. The company's engineered quartz slabs are primarily used as indoor and outdoor kitchen countertops in the renovation and remodeling construction end markets.

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Dividend History for Caesarstone (NASDAQ:CSTE)

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