Sphera Funds Management LTD. decreased its holdings in shares of Caesarstone Ltd (NASDAQ:CSTE) by 16.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 469,160 shares of the construction company’s stock after selling 92,151 shares during the period. Caesarstone makes up about 2.7% of Sphera Funds Management LTD.’s portfolio, making the stock its 5th largest position. Sphera Funds Management LTD. owned approximately 1.37% of Caesarstone worth $23,808,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CSTE. Stone Ridge Asset Management LLC raised its holdings in shares of Caesarstone by 22.0% in the 3rd quarter. Stone Ridge Asset Management LLC now owns 37,851 shares of the construction company’s stock valued at $703,000 after buying an additional 6,819 shares during the period. Hartford Investment Management Co. acquired a new stake in shares of Caesarstone in the 3rd quarter valued at approximately $305,000. BlackRock Inc. lifted its holdings in shares of Caesarstone by 2.4% in the 3rd quarter. BlackRock Inc. now owns 1,674,740 shares of the construction company’s stock valued at $31,067,000 after buying an additional 39,538 shares during the period. FMR LLC lifted its holdings in shares of Caesarstone by 7,186.0% in the 3rd quarter. FMR LLC now owns 728,600 shares of the construction company’s stock valued at $13,516,000 after buying an additional 718,600 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Caesarstone in the 3rd quarter valued at approximately $375,000. Hedge funds and other institutional investors own 48.83% of the company’s stock.

Caesarstone stock traded down $0.15 during mid-day trading on Thursday, hitting $16.13. 13,642 shares of the company were exchanged, compared to its average volume of 128,445. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.73 and a current ratio of 3.15. The company has a market capitalization of $568.47 million, a price-to-earnings ratio of 22.40 and a beta of 1.72. Caesarstone Ltd has a 12-month low of $12.49 and a 12-month high of $21.80.

Caesarstone (NASDAQ:CSTE) last released its quarterly earnings results on Wednesday, February 6th. The construction company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.10). The company had revenue of $142.88 million for the quarter, compared to analysts’ expectations of $141.16 million. Caesarstone had a return on equity of 5.21% and a net margin of 4.24%. The business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.22 EPS. On average, analysts forecast that Caesarstone Ltd will post 0.67 EPS for the current fiscal year.

Several analysts have recently commented on CSTE shares. Zacks Investment Research cut Caesarstone from a “hold” rating to a “sell” rating in a report on Thursday, January 3rd. ValuEngine raised Caesarstone from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. BidaskClub raised Caesarstone from a “hold” rating to a “buy” rating in a research note on Saturday, January 19th. Finally, Credit Suisse Group set a $13.00 price objective on Caesarstone and gave the company a “sell” rating in a research note on Thursday, November 15th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. Caesarstone currently has an average rating of “Hold” and a consensus price target of $16.00.

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Caesarstone Profile

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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Institutional Ownership by Quarter for Caesarstone (NASDAQ:CSTE)

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