Caesarstone Ltd. (CSTE) Holdings Held by Bank Hapoalim BM
Bank Hapoalim BM continued to hold its stake in Caesarstone Ltd. (NASDAQ:CSTE) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 300,000 shares of the construction company’s stock at the close of the second quarter. Caesarstone accounts for 2.5% of Bank Hapoalim BM’s investment portfolio, making the stock its 9th largest holding. Bank Hapoalim BM owned 0.87% of Caesarstone worth $10,515,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sphera Funds Management LTD. grew its holdings in Caesarstone by 36.5% during the second quarter. Sphera Funds Management LTD. now owns 122,797 shares of the construction company’s stock valued at $4,304,000 after purchasing an additional 32,823 shares during the period. Frontier Capital Management Co. LLC grew its holdings in Caesarstone by 12.5% during the first quarter. Frontier Capital Management Co. LLC now owns 1,102,478 shares of the construction company’s stock valued at $39,965,000 after purchasing an additional 122,089 shares during the period. Renaissance Group LLC acquired a new position in Caesarstone during the second quarter valued at approximately $432,000. Formula Growth Ltd. grew its holdings in Caesarstone by 13.3% during the first quarter. Formula Growth Ltd. now owns 170,398 shares of the construction company’s stock valued at $6,177,000 after purchasing an additional 20,000 shares during the period. Finally, Ameriprise Financial Inc. acquired a new position in Caesarstone during the first quarter valued at approximately $387,000. Hedge funds and other institutional investors own 53.11% of the company’s stock.
Caesarstone Ltd. (CSTE) traded up 1.72% on Friday, hitting $29.50. 193,600 shares of the stock traded hands. Caesarstone Ltd. has a 1-year low of $26.35 and a 1-year high of $44.00. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 16.86 and a beta of 2.13. The stock has a 50-day moving average price of $29.84 and a 200 day moving average price of $34.69.
Caesarstone (NASDAQ:CSTE) last released its quarterly earnings data on Wednesday, August 2nd. The construction company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.14). The company had revenue of $148.90 million during the quarter, compared to the consensus estimate of $148.35 million. Caesarstone had a net margin of 11.21% and a return on equity of 14.21%. The business’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.73 EPS. On average, analysts anticipate that Caesarstone Ltd. will post $1.94 EPS for the current fiscal year.
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CSTE has been the subject of a number of analyst reports. Stifel Nicolaus restated a “buy” rating and set a $47.00 price objective on shares of Caesarstone in a report on Thursday, August 3rd. BidaskClub cut shares of Caesarstone from a “strong-buy” rating to a “buy” rating in a report on Friday, June 9th. TheStreet cut shares of Caesarstone from a “b-” rating to a “c+” rating in a report on Wednesday, June 28th. Zacks Investment Research upgraded shares of Caesarstone from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 11th. Finally, Credit Suisse Group initiated coverage on shares of Caesarstone in a report on Thursday, June 22nd. They set a “neutral” rating and a $37.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Caesarstone currently has a consensus rating of “Hold” and a consensus target price of $38.20.
Caesarstone Ltd., formerly 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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