Tocqueville Asset Management L.P. Acquires 191,080 Shares of CaesarStone Sdot-Yam Ltd. (CSTE)
Tocqueville Asset Management L.P. increased its position in CaesarStone Sdot-Yam Ltd. (NASDAQ:CSTE) by 2,123.1% during the second quarter, Holdings Channel reports. The institutional investor owned 200,080 shares of the company’s stock after buying an additional 191,080 shares during the period. Tocqueville Asset Management L.P.’s holdings in CaesarStone Sdot-Yam were worth $6,955,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of CSTE. Skyline Asset Management LP raised its stake in CaesarStone Sdot-Yam by 6.9% in the first quarter. Skyline Asset Management LP now owns 641,800 shares of the company’s stock valued at $22,046,000 after buying an additional 41,600 shares in the last quarter. Rice Hall James & Associates LLC acquired a new stake in CaesarStone Sdot-Yam during the second quarter valued at approximately $9,127,000. 1832 Asset Management L.P. raised its stake in CaesarStone Sdot-Yam by 29.9% in the first quarter. 1832 Asset Management L.P. now owns 410,823 shares of the company’s stock valued at $24,095,000 after buying an additional 94,600 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in CaesarStone Sdot-Yam by 8.7% in the first quarter. TIAA CREF Investment Management LLC now owns 624,838 shares of the company’s stock valued at $21,463,000 after buying an additional 49,781 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in CaesarStone Sdot-Yam by 6.6% in the first quarter. Geode Capital Management LLC now owns 13,465 shares of the company’s stock valued at $462,000 after buying an additional 839 shares in the last quarter. 63.72% of the stock is owned by institutional investors.
Shares of CaesarStone Sdot-Yam Ltd. (NASDAQ:CSTE) traded up 0.81% during midday trading on Tuesday, hitting $37.20. 35,175 shares of the company traded hands. The stock’s 50-day moving average is $38.36 and its 200 day moving average is $37.44. The stock has a market capitalization of $1.29 billion, a P/E ratio of 17.38 and a beta of 2.03. CaesarStone Sdot-Yam Ltd. has a 12-month low of $27.31 and a 12-month high of $43.52.
CaesarStone Sdot-Yam (NASDAQ:CSTE) last announced its earnings results on Wednesday, August 3rd. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.08. The business earned $142.30 million during the quarter, compared to analysts’ expectations of $139.53 million. CaesarStone Sdot-Yam had a net margin of 14.46% and a return on equity of 19.69%. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the company posted $0.65 EPS. On average, analysts expect that CaesarStone Sdot-Yam Ltd. will post $2.58 earnings per share for the current year.
Several research firms recently commented on CSTE. Zacks Investment Research raised shares of CaesarStone Sdot-Yam from a “hold” rating to a “strong-buy” rating and set a $48.00 target price for the company in a research note on Friday, August 5th. TheStreet downgraded shares of CaesarStone Sdot-Yam from a “buy” rating to a “hold” rating in a research report on Friday, September 9th. Finally, Credit Suisse Group AG restated an “outperform” rating and issued a $47.00 price target on shares of CaesarStone Sdot-Yam in a research report on Wednesday, June 29th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $47.17.
CaesarStone Sdot-Yam Company Profile
Caesarstone Sdot-Yam Ltd. is a manufacturer of engineered quartz surfaces. The Company’s products consist of engineered quartz, which are installed as countertops in residential kitchens. Its products are primarily used as kitchen countertops in the renovation, remodeling and residential construction end markets.
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