State Board of Administration of Florida Retirement System boosted its position in Carbo Ceramics Inc. (NYSE:CRR) by 3.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,453 shares of the company’s stock after buying an additional 662 shares during the period. State Board of Administration of Florida Retirement System owned about 0.08% of Carbo Ceramics worth $242,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its position in Carbo Ceramics by 68.1% in the first quarter. Royal Bank of Canada now owns 9,873 shares of the company’s stock worth $140,000 after buying an additional 4,001 shares during the last quarter. KBC Group NV raised its position in Carbo Ceramics by 2,092.1% in the second quarter. KBC Group NV now owns 13,525 shares of the company’s stock worth $177,000 after buying an additional 12,908 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its position in Carbo Ceramics by 29.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 19,291 shares of the company’s stock worth $274,000 after buying an additional 4,403 shares during the last quarter. Wedge Capital Management L L P NC raised its position in Carbo Ceramics by 55.7% in the second quarter. Wedge Capital Management L L P NC now owns 26,567 shares of the company’s stock worth $348,000 after buying an additional 9,508 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Carbo Ceramics during the first quarter worth about $548,000. 92.20% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Carbo Ceramics Inc. (NYSE:CRR) traded down 0.28% during midday trading on Monday, reaching $10.68. The company’s stock had a trading volume of 60,327 shares. The company’s market cap is $250.96 million. The stock has a 50-day moving average of $11.57 and a 200 day moving average of $13.06. Carbo Ceramics Inc. has a 12 month low of $9.48 and a 12 month high of $24.20.
Carbo Ceramics (NYSE:CRR) last released its earnings results on Thursday, July 28th. The company reported ($0.88) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.01. The company earned $20.70 million during the quarter, compared to the consensus estimate of $24.70 million. Carbo Ceramics had a negative return on equity of 7.16% and a negative net margin of 58.46%. The firm’s quarterly revenue was down 71.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.41) earnings per share. On average, analysts predict that Carbo Ceramics Inc. will post ($3.24) earnings per share for the current fiscal year.
Separately, Zacks Investment Research lowered Carbo Ceramics from a “buy” rating to a “hold” rating in a research report on Monday, October 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. Carbo Ceramics presently has a consensus rating of “Hold” and a consensus target price of $16.53.
About Carbo Ceramics
Carbo Ceramics Inc is an oilfield services technology company. The Company supplies ceramic proppant. The Company also sells sand and resin-coated proppants. Additionally, it provides fracture simulation software, fracture design and consulting services, and a range of technologies for spill prevention, containment and related countermeasures.
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