Calgon Carbon Corp. (CCC) Sees Large Volume Increase
Calgon Carbon Corp. (NYSE:CCC) shares saw an uptick in 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 firms have recently weighed in on CCC. Wedbush cut their price objective on shares of Calgon Carbon Corp. from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Monday, May 9th. Oppenheimer Holdings Inc. initiated coverage on shares of Calgon Carbon Corp. in a report on Wednesday, June 1st. They issued an “outperform” rating for the company. Janney Montgomery Scott initiated coverage on shares of Calgon Carbon Corp. in a report on Tuesday, May 10th. They issued a “buy” rating and a $20.00 target price for the company. Finally, Avondale Partners upgraded shares of Calgon Carbon Corp. from a “market perform” rating to an “outperform” rating and set a $16.00 target price for the company in a report on Monday, August 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $16.00.
The firm has a market capitalization of $708.23 million and a P/E 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 posted its quarterly earnings results 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. During the same period last year, the business earned $0.24 earnings per share. The firm had revenue of $132.60 million for the quarter, compared to analyst estimates of $130.07 million. Calgon Carbon Corp.’s quarterly revenue was down 2.1% compared to the same quarter last year. Analysts predict that Calgon Carbon Corp. will post $0.62 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Friday, September 2nd will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Wednesday, August 31st.
A number of institutional investors have modified their holdings of the stock. KBC Group NV raised 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 valued at $4,685,000 after buying an additional 813 shares during the last quarter. Royce & Associates LLC raised 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 valued at $2,716,000 after buying an additional 60,458 shares during the last quarter. Finally, Rhumbline Advisers raised 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 valued at $1,389,000 after buying an additional 5,350 shares during the last quarter.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.