Formula Growth Ltd. raised its stake in Caesarstone Ltd. (NASDAQ:CSTE) by 135.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 243,398 shares of the construction company’s stock after purchasing an additional 140,000 shares during the period. Caesarstone accounts for approximately 1.1% of Formula Growth Ltd.’s holdings, making the stock its 28th biggest holding. Formula Growth Ltd. owned 0.71% of Caesarstone worth $7,253,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clal Insurance Enterprises Holdings Ltd increased its position in shares of Caesarstone by 64.7% in the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 937,716 shares of the construction company’s stock worth $32,867,000 after purchasing an additional 368,340 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Caesarstone by 10.2% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 659,000 shares of the construction company’s stock valued at $19,638,000 after buying an additional 60,940 shares during the last quarter. State Street Corp grew its position in shares of Caesarstone by 2.1% during the 2nd quarter. State Street Corp now owns 510,307 shares of the construction company’s stock valued at $17,888,000 after buying an additional 10,414 shares during the last quarter. Public Employees Retirement Association of Colorado grew its position in shares of Caesarstone by 10.1% during the 3rd quarter. Public Employees Retirement Association of Colorado now owns 424,588 shares of the construction company’s stock valued at $12,653,000 after buying an additional 38,953 shares during the last quarter. Finally, TIAA CREF Investment Management LLC grew its position in shares of Caesarstone by 6.9% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 392,021 shares of the construction company’s stock valued at $13,740,000 after buying an additional 25,351 shares during the last quarter. 49.66% of the stock is owned by institutional investors.

Caesarstone Ltd. (NASDAQ CSTE) opened at $24.90 on Friday. Caesarstone Ltd. has a 1 year low of $23.10 and a 1 year high of $44.00. The company has a quick ratio of 2.20, a current ratio of 3.31 and a debt-to-equity ratio of 0.02. The company has a market cap of $837.87, a PE ratio of 17.94 and a beta of 2.17.

A number of equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Caesarstone from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Wednesday, October 4th. Chardan Capital reaffirmed a “neutral” rating and set a $32.00 price objective (down previously from $43.00) on shares of Caesarstone in a research report on Tuesday, November 7th. Stifel Nicolaus reaffirmed a “buy” rating and set a $47.00 price objective on shares of Caesarstone in a research report on Thursday, August 3rd. BidaskClub downgraded shares of Caesarstone from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, J P Morgan Chase & Co downgraded shares of Caesarstone from a “neutral” rating to an “underweight” rating and set a $25.00 price objective for the company. in a research report on Thursday, November 2nd. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $35.00.

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Caesarstone Company Profile

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.

Institutional Ownership by Quarter for Caesarstone (NASDAQ:CSTE)

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