Two Sigma Investments LP Has $587,000 Holding in Caesarstone Ltd (CSTE)

Two Sigma Investments LP Has $587,000 Holding in Caesarstone Ltd (CSTE)

Two Sigma Investments LP lowered its stake in Caesarstone Ltd (NASDAQ:CSTE) by 83.5% during the fourth quarter, Holdings Channel reports. The firm owned 20,496 shares of the company’s stock after selling 103,553 shares during the period. Two Sigma Investments LP owned about 0.06% of Caesarstone worth $587,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CSTE. Bamco Inc. NY raised its stake in Caesarstone by 1.5% in the third quarter. Bamco Inc. NY now owns 3,146,475 shares of the company’s stock valued at $118,654,000 after buying an additional 47,874 shares during the period. Vaughan Nelson Investment Management L.P. raised its stake in Caesarstone by 10.4% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,565,990 shares of the company’s stock valued at $59,055,000 after buying an additional 146,915 shares during the period. Joho Capital LLC raised its stake in Caesarstone by 13.2% in the third quarter. Joho Capital LLC now owns 1,374,627 shares of the company’s stock valued at $51,837,000 after buying an additional 160,000 shares during the period. Frontier Capital Management Co. LLC raised its stake in Caesarstone by 2.0% in the fourth quarter. Frontier Capital Management Co. LLC now owns 980,389 shares of the company’s stock valued at $28,088,000 after buying an additional 19,427 shares during the period. Finally, BlackRock Fund Advisors raised its stake in Caesarstone by 7.0% in the third quarter. BlackRock Fund Advisors now owns 713,056 shares of the company’s stock valued at $26,889,000 after buying an additional 46,349 shares during the period. 60.17% of the stock is currently owned by institutional investors.

Shares of Caesarstone Ltd (NASDAQ:CSTE) opened at 36.25 on Friday. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 17.43 and a beta of 1.88. The stock’s 50 day moving average price is $33.97 and its 200 day moving average price is $32.63. Caesarstone Ltd has a 12-month low of $26.35 and a 12-month high of $43.50.

Caesarstone (NASDAQ:CSTE) last issued its quarterly earnings results on Wednesday, February 8th. The company reported $0.53 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.10. The business had revenue of $135 million for the quarter, compared to analyst estimates of $126.22 million. Caesarstone had a return on equity of 17.98% and a net margin of 13.90%. Caesarstone’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company posted $0.55 earnings per share. Equities research analysts expect that Caesarstone Ltd will post $2.14 earnings per share for the current year.

Several analysts have recently issued reports on CSTE shares. Stifel Nicolaus raised Caesarstone from a “hold” rating to a “buy” rating and increased their target price for the stock from $33.00 to $47.00 in a report on Friday, March 24th. Zacks Investment Research raised Caesarstone from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a report on Wednesday, February 8th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Caesarstone presently has an average rating of “Hold” and an average price target of $41.80.

Caesarstone Company Profile

Caesarstone Ltd. is a manufacturer of engineered quartz surfaces. The Company’s engineered quartz surfaces are installed as countertops in residential kitchens. Its products are used as kitchen countertops in the renovation, remodeling and residential construction end markets. The other applications of its products include vanity tops, wall panels, back splashes, floor tiles, stairs, and other interior surfaces that are used in a range of residential and non-residential applications.

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