Carbo Ceramics Inc. (CRR) Shares Sold by Ameriprise Financial Inc.
Ameriprise Financial Inc. cut its position in Carbo Ceramics Inc. (NYSE:CRR) by 9.1% during the second quarter, Holdings Channel reports. The fund owned 499,922 shares of the company’s stock after selling 49,960 shares during the period. Ameriprise Financial Inc. owned about 2.13% of Carbo Ceramics worth $6,548,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the company. Wedge Capital Management L L P NC raised its position in Carbo Ceramics by 55.7% in the second quarter. Wedge Capital Management L L P NC now owns 26,567 shares of the company’s stock valued at $348,000 after buying an additional 9,508 shares in the last quarter. Oslo Asset Management ASA raised its position in Carbo Ceramics by 2.0% in the second quarter. Oslo Asset Management ASA now owns 1,120,102 shares of the company’s stock valued at $14,673,000 after buying an additional 22,000 shares in the last quarter. Royal Bank of Canada raised its position in Carbo Ceramics by 68.1% in the first quarter. Royal Bank of Canada now owns 9,873 shares of the company’s stock valued at $140,000 after buying an additional 4,001 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its position in Carbo Ceramics by 29.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 19,291 shares of the company’s stock valued at $274,000 after buying an additional 4,403 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Carbo Ceramics during the first quarter valued at approximately $548,000. 92.38% of the stock is currently owned by hedge funds and other institutional investors.
Carbo Ceramics Inc. (NYSE:CRR) traded up 2.55% during midday trading on Monday, hitting $11.67. 179,397 shares of the stock traded hands. The firm’s 50-day moving average is $11.98 and its 200-day moving average is $13.19. The company’s market cap is $274.22 million. Carbo Ceramics Inc. has a 52-week low of $9.48 and a 52-week high of $24.84.
Carbo Ceramics (NYSE:CRR) last issued its earnings results on Thursday, July 28th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.89) by $0.01. Carbo Ceramics had a negative return on equity of 7.16% and a negative net margin of 58.46%. The firm had revenue of $20.70 million for the quarter, compared to analysts’ expectations of $24.70 million. During the same period in the previous year, the firm posted ($0.41) earnings per share. The business’s revenue was down 71.8% compared to the same quarter last year. Analysts predict that Carbo Ceramics Inc. will post ($3.24) EPS for the current year.
Several equities analysts recently commented on the stock. Zacks Investment Research lowered shares of Carbo Ceramics from a “buy” rating to a “hold” rating in a report on Monday, October 3rd. Goldman Sachs Group Inc. reaffirmed a “sell” rating and set a $8.00 target price on shares of Carbo Ceramics in a report on Wednesday, June 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. Carbo Ceramics has an average rating of “Hold” and an average price target of $16.53.
Carbo Ceramics Company Profile
Carbo Ceramics Inc is an oilfield services technology company. The Company supplies ceramic proppant. The Company also sells sand and resin-coated proppants. Additionally, it provides fracture simulation software, fracture design and consulting services, and a range of technologies for spill prevention, containment and related countermeasures.
Want to see what other hedge funds are holding CRR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carbo Ceramics Inc. (NYSE:CRR).
Receive News & Ratings for Carbo Ceramics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carbo Ceramics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.