Dynamic Technology Lab Private Ltd cut its position in shares of CaesarStone Sdot-Yam Ltd. (NASDAQ:CSTE) by 63.1% during the second quarter, Holdings Channel reports. The firm owned 6,202 shares of the company’s stock after selling 10,606 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in CaesarStone Sdot-Yam were worth $215,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in CSTE. TIAA CREF Investment Management LLC raised its stake in CaesarStone Sdot-Yam by 8.7% in the first quarter. TIAA CREF Investment Management LLC now owns 624,838 shares of the company’s stock worth $21,463,000 after buying an additional 49,781 shares during the period. Teachers Advisors Inc. increased its position in shares of CaesarStone Sdot-Yam by 8.5% in the first quarter. Teachers Advisors Inc. now owns 436,140 shares of the company’s stock valued at $14,981,000 after buying an additional 34,220 shares during the last quarter. BlackRock Fund Advisors increased its position in shares of CaesarStone Sdot-Yam by 48.4% in the first quarter. BlackRock Fund Advisors now owns 44,797 shares of the company’s stock valued at $1,539,000 after buying an additional 14,602 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of CaesarStone Sdot-Yam by 3.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 61,655 shares of the company’s stock valued at $2,118,000 after buying an additional 1,933 shares during the last quarter. Finally, Alpine Partners VI LLC acquired a new position in shares of CaesarStone Sdot-Yam during the first quarter valued at about $227,000. 63.75% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CaesarStone Sdot-Yam Ltd. (NASDAQ:CSTE) opened at 37.51 on Wednesday. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 17.53 and a beta of 2.03. The stock has a 50 day moving average price of $38.44 and a 200-day moving average price of $37.25. CaesarStone Sdot-Yam Ltd. has a one year low of $27.31 and a one year high of $43.52.
CaesarStone Sdot-Yam (NASDAQ:CSTE) last announced its earnings results on Wednesday, August 3rd. The company reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.08. The business earned $142.30 million during the quarter, compared to analyst estimates of $139.53 million. CaesarStone Sdot-Yam had a return on equity of 19.69% and a net margin of 14.46%. CaesarStone Sdot-Yam’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the company earned $0.65 EPS. On average, equities research analysts expect that CaesarStone Sdot-Yam Ltd. will post $2.58 EPS for the current year.
CSTE has been the subject of several research analyst reports. TheStreet downgraded CaesarStone Sdot-Yam from a “buy” rating to a “hold” rating in a research report on Friday, September 9th. Zacks Investment Research upgraded CaesarStone Sdot-Yam from a “sell” rating to a “hold” rating in a research report on Wednesday, June 15th. Finally, Credit Suisse Group AG reiterated an “outperform” rating and issued a $47.00 price objective on shares of CaesarStone Sdot-Yam in a research report on Wednesday, June 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $46.57.
CaesarStone Sdot-Yam Company Profile
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.
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