Acadian Asset Management LLC Takes Position in Caesarstone Ltd. (NASDAQ:CSTE)

Acadian Asset Management LLC bought a new position in Caesarstone Ltd. (NASDAQ:CSTE) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 21,644 shares of the construction company’s stock, valued at approximately $106,000. Acadian Asset Management LLC owned 0.06% of Caesarstone at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CSTE. Rhumbline Advisers acquired a new position in shares of Caesarstone in the 2nd quarter valued at $107,000. Bank of New York Mellon Corp acquired a new position in Caesarstone in the second quarter worth about $293,000. Gladius Capital Management LP bought a new position in Caesarstone during the second quarter worth about $28,000. Marquette Asset Management LLC boosted its holdings in Caesarstone by 19.8% during the first quarter. Marquette Asset Management LLC now owns 36,291 shares of the construction company’s stock valued at $148,000 after purchasing an additional 6,006 shares in the last quarter. Finally, Essex Investment Management Co. LLC grew its stake in shares of Caesarstone by 89.7% in the 1st quarter. Essex Investment Management Co. LLC now owns 329,827 shares of the construction company’s stock valued at $1,349,000 after purchasing an additional 155,956 shares during the period. Institutional investors and hedge funds own 33.70% of the company’s stock.

Analyst Ratings Changes

CSTE has been the topic of several recent analyst reports. StockNews.com raised Caesarstone from a “hold” rating to a “buy” rating in a research note on Friday. Benchmark reduced their target price on shares of Caesarstone from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th.

Caesarstone Trading Up 0.6 %

NASDAQ:CSTE opened at $4.85 on Friday. The stock has a market capitalization of $167.48 million, a P/E ratio of -1.53 and a beta of 0.13. Caesarstone Ltd. has a 1 year low of $3.50 and a 1 year high of $6.81. The firm has a 50 day moving average of $5.07 and a 200-day moving average of $5.22.

Caesarstone (NASDAQ:CSTE) last issued its quarterly earnings data on Wednesday, August 7th. The construction company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The business had revenue of $119.43 million during the quarter, compared to the consensus estimate of $123.85 million. Caesarstone had a negative net margin of 12.91% and a negative return on equity of 8.21%.

About Caesarstone

Caesarstone Ltd., together with its subsidiaries, designs, develops, manufactures, and markets engineered stone and other materials under the Caesarstone brand in the United States, Canada, Latin America, Australia, Asia, Europe, the Middle East and Africa, and Israel. The company's engineered stone slabs are primarily used as indoor and outdoor kitchen countertops in the renovation and remodeling, and residential construction sectors.