Calgon Carbon Corp. (CCC) Given Average Recommendation of “Hold” by Brokerages
Shares of Calgon Carbon Corp. (NYSE:CCC) have been assigned an average rating of “Hold” from the nine brokerages that are covering the firm. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $15.60.
CCC has been the subject of a number of recent research reports. Avondale Partners upgraded 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. Zacks Investment Research upgraded Calgon Carbon Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, August 31st. Finally, Robert W. Baird upgraded Calgon Carbon Corp. from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $16.00 to $19.00 in a report on Tuesday, October 4th.
In other news, Director William R. Newlin sold 34,014 shares of Calgon Carbon Corp. stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $14.98, for a total transaction of $509,529.72. Following the sale, the director now owns 206,483 shares in the company, valued at $3,093,115.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.31% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of CCC. Price T Rowe Associates Inc. MD boosted its stake in Calgon Carbon Corp. by 0.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 36,076 shares of the company’s stock worth $547,000 after buying an additional 166 shares during the period. Manchester Capital Management LLC boosted its stake in Calgon Carbon Corp. by 0.7% in the second quarter. Manchester Capital Management LLC now owns 29,203 shares of the company’s stock worth $384,000 after buying an additional 200 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in Calgon Carbon Corp. by 2.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 11,300 shares of the company’s stock worth $171,000 after buying an additional 250 shares during the period. Arizona State Retirement System boosted its stake in Calgon Carbon Corp. by 1.2% in the second quarter. Arizona State Retirement System now owns 26,239 shares of the company’s stock worth $345,000 after buying an additional 300 shares during the period. Finally, BlackRock Advisors LLC boosted its stake in Calgon Carbon Corp. by 1.4% in the second quarter. BlackRock Advisors LLC now owns 24,239 shares of the company’s stock worth $319,000 after buying an additional 333 shares during the period. Institutional investors and hedge funds own 88.30% of the company’s stock.
Shares of Calgon Carbon Corp. (NYSE:CCC) opened at 17.70 on Friday. The stock has a market cap of $896.22 million, a P/E ratio of 32.84 and a beta of 1.09. Calgon Carbon Corp. has a 1-year low of $12.70 and a 1-year high of $18.25. The firm’s 50-day moving average price is $16.16 and its 200 day moving average price is $14.85.
Calgon Carbon Corp. (NYSE:CCC) last released its earnings results on Thursday, November 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.01. The company earned $124 million during the quarter, compared to analysts’ expectations of $127.46 million. Calgon Carbon Corp. had a net margin of 5.41% and a return on equity of 6.93%. The company’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter last year, the business posted $0.23 earnings per share. On average, equities analysts expect that Calgon Carbon Corp. will post $0.52 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Monday, December 5th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Thursday, December 1st. Calgon Carbon Corp.’s dividend payout ratio is presently 37.04%.
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Calgon Carbon Corp. Company Profile
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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