California Public Employees Retirement System reduced its stake in shares of CaesarStone Sdot-Yam Ltd. (NASDAQ:CSTE) by 2.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 94,500 shares of the company’s stock after selling 2,600 shares during the period. California Public Employees Retirement System owned approximately 0.27% of CaesarStone Sdot-Yam worth $3,285,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of the stock. Societe Generale acquired a new position in CaesarStone Sdot-Yam during the second quarter valued at about $108,000. SG Americas Securities LLC acquired a new position in CaesarStone Sdot-Yam during the second quarter valued at about $108,000. Quantbot Technologies LP acquired a new position in CaesarStone Sdot-Yam during the second quarter valued at about $138,000. Alpine Partners VI LLC acquired a new position in CaesarStone Sdot-Yam during the first quarter valued at about $227,000. Finally, Genesee Valley Trust Co. increased its position in CaesarStone Sdot-Yam by 7.9% in the second quarter. Genesee Valley Trust Co. now owns 6,681 shares of the company’s stock valued at $232,000 after buying an additional 490 shares during the last quarter. 63.75% of the stock is owned by institutional investors and hedge funds.
CaesarStone Sdot-Yam Ltd. (NASDAQ:CSTE) traded down 1.38% during midday trading on Friday, reaching $38.53. 133,888 shares of the company’s stock were exchanged. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 18.00 and a beta of 2.02. The firm has a 50-day moving average price of $38.72 and a 200 day moving average price of $37.17. CaesarStone Sdot-Yam Ltd. has a 12-month low of $27.31 and a 12-month high of $43.52.
CaesarStone Sdot-Yam (NASDAQ:CSTE) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.08. CaesarStone Sdot-Yam had a net margin of 14.46% and a return on equity of 19.69%. The business earned $142.30 million during the quarter, compared to analysts’ expectations of $139.53 million. During the same quarter in the previous year, the company earned $0.65 EPS. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, analysts expect that CaesarStone Sdot-Yam Ltd. will post $2.58 EPS for the current fiscal year.
A number of brokerages recently weighed in on CSTE. Zacks Investment Research raised shares of CaesarStone Sdot-Yam from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Tuesday, July 12th. TheStreet raised shares of CaesarStone Sdot-Yam from a “hold” rating to a “buy” rating in a research note on Monday, August 15th. Finally, Credit Suisse Group AG reissued an “outperform” rating and set a $47.00 target price on shares of CaesarStone Sdot-Yam in a research note on Wednesday, June 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $46.57.
About CaesarStone Sdot-Yam
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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