Robert W. Baird upgraded shares of Calgon Carbon Corp. (NYSE:CCC) from a neutral rating to an outperform rating in a research report released on Tuesday morning. The brokerage currently has $19.00 price objective on the stock, up from their previous price objective of $16.00.
Several other brokerages have also commented on CCC. Zacks Investment Research upgraded shares of Calgon Carbon Corp. from a sell rating to a hold rating in a research note on Friday, September 9th. Avondale Partners raised shares of Calgon Carbon Corp. from a market perform rating to an outperform rating and set a $16.00 price objective for the company in a report on Monday, August 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $16.43.
Shares of Calgon Carbon Corp. (NYSE:CCC) opened at 16.42 on Tuesday. The company has a market cap of $831.25 million, a P/E ratio of 25.62 and a beta of 1.10. The company’s 50 day moving average is $14.83 and its 200-day moving average is $14.52. Calgon Carbon Corp. has a 12 month low of $12.70 and a 12 month high of $18.22.
Calgon Carbon Corp. (NYSE:CCC) last announced its quarterly earnings results on Friday, August 5th. The company reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by $0.02. Calgon Carbon Corp. had a return on equity of 8.36% and a net margin of 6.42%. The business had revenue of $132.60 million for the quarter, compared to analyst estimates of $130.07 million. During the same quarter last year, the company earned $0.24 EPS. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. Analysts expect that Calgon Carbon Corp. will post $0.62 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Friday, September 2nd were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Wednesday, August 31st. Calgon Carbon Corp.’s dividend payout ratio (DPR) is presently 31.25%.
A number of hedge funds have recently modified their holdings of CCC. Cambiar Investors LLC bought a new stake in shares of Calgon Carbon Corp. during the second quarter worth $23,453,000. Prudential Financial Inc. increased its stake in shares of Calgon Carbon Corp. by 1.4% in the first quarter. Prudential Financial Inc. now owns 120,917 shares of the company’s stock worth $1,695,000 after buying an additional 1,700 shares during the period. BlackRock Inc. increased its stake in shares of Calgon Carbon Corp. by 11.2% in the first quarter. BlackRock Inc. now owns 22,511 shares of the company’s stock worth $316,000 after buying an additional 2,269 shares during the period. Kennedy Capital Management Inc. bought a new stake in shares of Calgon Carbon Corp. during the first quarter worth $351,000. Finally, Parnassus Investments CA increased its stake in shares of Calgon Carbon Corp. by 25.4% in the second quarter. Parnassus Investments CA now owns 1,085,000 shares of the company’s stock worth $14,268,000 after buying an additional 220,000 shares during the period. 83.44% of the stock is owned by hedge funds and other institutional investors.
About Calgon Carbon Corp.
Calgon Carbon Corporation is engaged in the manufacture, supply, reactivation and application of activated carbons and the manufacture of ballast water treatment, ultraviolet light disinfection and ion-exchange (IX) technologies. The Company’s technologies are used for the treatment of drinking water, wastewater, ballast water, air emissions, and various industrial and commercial manufacturing processes.
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