First Mercantile Trust Co. purchased a new position in shares of CaesarStone Sdot-Yam Ltd. (NASDAQ:CSTE) during the second quarter, Holdings Channel reports. The firm purchased 7,486 shares of the company’s stock, valued at approximately $260,000.
A number of other institutional investors have also recently modified their holdings of the stock. Genesee Valley Trust Co. increased its stake in shares of CaesarStone Sdot-Yam by 7.9% in the second quarter. Genesee Valley Trust Co. now owns 6,681 shares of the company’s stock worth $232,000 after buying an additional 490 shares during the period. Geode Capital Management LLC increased its stake in shares of CaesarStone Sdot-Yam by 6.6% in the first quarter. Geode Capital Management LLC now owns 13,465 shares of the company’s stock worth $462,000 after buying an additional 839 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake 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 worth $2,118,000 after buying an additional 1,933 shares during the period. Societe Generale bought a new stake in shares of CaesarStone Sdot-Yam during the second quarter worth approximately $108,000. Finally, SG Americas Securities LLC bought a new stake in shares of CaesarStone Sdot-Yam during the second quarter worth approximately $108,000. 63.75% of the stock is owned by hedge funds and other institutional investors.
Shares of CaesarStone Sdot-Yam Ltd. (NASDAQ:CSTE) opened at 37.71 on Monday. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 17.62 and a beta of 2.03. The company’s 50 day moving average price is $38.48 and its 200 day moving average price is $37.22. 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 released its earnings results on Wednesday, August 3rd. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates 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 firm earned $142.30 million during the quarter, compared to analyst estimates of $139.53 million. During the same quarter in the previous year, the business 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 earnings per share for the current fiscal year.
CSTE has been the subject of a number of research analyst reports. Zacks Investment Research upgraded CaesarStone Sdot-Yam from a “sell” rating to a “hold” rating in a report on Wednesday, June 15th. TheStreet upgraded CaesarStone Sdot-Yam from a “hold” rating to a “buy” rating in a report on Monday, August 15th. Finally, Credit Suisse Group AG restated an “outperform” rating and issued a $47.00 target price on shares of CaesarStone Sdot-Yam in a report on Wednesday, June 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target 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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