Calgon Carbon Corp. (CCC) Sees Strong Trading Volume
Calgon Carbon Corp. (NYSE:CCC) saw strong trading volume on Friday . 461,511 shares traded hands during mid-day trading, an increase of 66% from the previous session’s volume of 278,791 shares.The stock last traded at $13.96 and had previously closed at $14.00.
A number of research analysts recently commented on the company. Avondale Partners raised Calgon Carbon Corp. from a “market perform” rating to an “outperform” rating and set a $16.00 price target for the company in a report on Monday. Oppenheimer Holdings Inc. assumed coverage on Calgon Carbon Corp. in a report on Wednesday, June 1st. They issued an “outperform” rating for the company. Janney Montgomery Scott assumed coverage on Calgon Carbon Corp. in a report on Tuesday, May 10th. They issued a “buy” rating and a $20.00 price target for the company. Wedbush reduced their price target on Calgon Carbon Corp. from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Monday, May 9th. Finally, Robert W. Baird reissued a “hold” rating on shares of Calgon Carbon Corp. in a report on Friday, April 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $16.00.
The company has a market cap of $708.23 million and a price-to-earnings ratio of 21.83. The stock has a 50 day moving average of $13.62 and a 200 day moving average of $14.64.
Calgon Carbon Corp. (NYSE:CCC) last announced its quarterly earnings data on Friday, August 5th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by $0.02. The company had revenue of $132.60 million for the quarter, compared to analyst estimates of $130.07 million. Calgon Carbon Corp.’s revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.24 earnings per share. On average, analysts forecast that Calgon Carbon Corp. will post $0.62 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Friday, September 2nd will be paid a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $0.20 dividend on an annualized basis and a yield of 1.43%.
A number of hedge funds and institutional investors have recently made changes to their positions in the stock. KBC Group NV boosted its position in shares of Calgon Carbon Corp. by 0.3% in the fourth quarter. KBC Group NV now owns 271,605 shares of the company’s stock worth $4,685,000 after buying an additional 813 shares during the period. Royce & Associates LLC boosted its position in shares of Calgon Carbon Corp. by 62.3% in the fourth quarter. Royce & Associates LLC now owns 157,473 shares of the company’s stock worth $2,716,000 after buying an additional 60,458 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of Calgon Carbon Corp. by 7.1% in the fourth quarter. Rhumbline Advisers now owns 80,500 shares of the company’s stock worth $1,389,000 after buying an additional 5,350 shares during the period.
Calgon Carbon Corporation is engaged in the manufacture, supply, reactivation and application of activated carbons and the manufacture of ballast water treatment, ultraviolet light disinfection and ion-exchange (IX) technologies. The Company’s technologies are used for the treatment of drinking water, wastewater, ballast water, air emissions, and various industrial and commercial manufacturing processes.
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