Caesarstone Target of Unusually Large Options Trading (CSTE)
Caesarstone Ltd (NASDAQ:CSTE) saw unusually large options trading activity on Tuesday. Traders acquired 719 put options on the stock. This represents an increase of 1,161% compared to the average volume of 57 put options.
A number of equities research analysts recently commented on the stock. BidaskClub upgraded shares of Caesarstone from a “sell” rating to a “hold” rating in a report on Saturday, September 22nd. ValuEngine upgraded shares of Caesarstone from a “sell” rating to a “hold” rating in a report on Monday, October 15th. Finally, Credit Suisse Group set a $13.00 price objective on shares of Caesarstone and gave the stock a “sell” rating in a report on Thursday, November 15th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Caesarstone currently has a consensus rating of “Hold” and a consensus target price of $21.33.
A number of institutional investors have recently added to or reduced their stakes in CSTE. Nisa Investment Advisors LLC bought a new position in Caesarstone in the third quarter valued at $137,000. FMR LLC bought a new position in shares of Caesarstone in the 2nd quarter valued at about $151,000. Hartford Investment Management Co. bought a new position in shares of Caesarstone in the 3rd quarter valued at about $305,000. DekaBank Deutsche Girozentrale bought a new position in shares of Caesarstone in the 3rd quarter valued at about $375,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Caesarstone in the 2nd quarter valued at about $415,000. 47.23% of the stock is owned by institutional investors and hedge funds.
Caesarstone (NASDAQ:CSTE) last issued its quarterly earnings data on Wednesday, November 7th. The construction company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. Caesarstone had a net margin of 2.93% and a return on equity of 6.40%. The business had revenue of $147.70 million for the quarter, compared to analyst estimates of $155.54 million. During the same period last year, the business posted $0.37 earnings per share. The firm’s quarterly revenue was down 4.5% on a year-over-year basis. Research analysts predict that Caesarstone will post 0.81 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 12th. Investors of record on Wednesday, November 21st will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.24%. Caesarstone’s payout ratio is 45.11%.
Caesarstone Ltd., together with its subsidiaries, manufactures and sells engineered quartz surfaces under the Caesarstone brand in the United States, Australia, Canada, Israel, Europe, and internationally. Its engineered quartz slabs are used as countertops in residential kitchens, as well as serve the renovation and remodeling market.
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