PNC Financial Services Group Inc. held its position in shares of CaesarStone Sdot-Yam Ltd. (NASDAQ:CSTE) during the second quarter, Holdings Channel reports. The fund owned 9,029 shares of the company’s stock at the end of the second quarter. PNC Financial Services Group Inc.’s holdings in CaesarStone Sdot-Yam were worth $313,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the company. Skyline Asset Management LP raised its stake in CaesarStone Sdot-Yam by 6.9% in the first quarter. Skyline Asset Management LP now owns 641,800 shares of the company’s stock valued at $22,046,000 after buying an additional 41,600 shares in the last quarter. 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 valued at $21,463,000 after buying an additional 49,781 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in CaesarStone Sdot-Yam during the second quarter valued at about $19,118,000. Teachers Advisors Inc. raised its stake in 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 in the last quarter. Finally, 1832 Asset Management L.P. raised its stake in CaesarStone Sdot-Yam by 29.9% in the first quarter. 1832 Asset Management L.P. now owns 410,823 shares of the company’s stock valued at $24,095,000 after buying an additional 94,600 shares in the last quarter. Hedge funds and other institutional investors own 63.75% of the company’s stock.
CaesarStone Sdot-Yam Ltd. (NASDAQ:CSTE) traded down 3.52% on Thursday, hitting $37.79. 91,573 shares of the company were exchanged. CaesarStone Sdot-Yam Ltd. has a 52-week low of $27.31 and a 52-week high of $43.52. The stock’s 50-day moving average price is $38.51 and its 200-day moving average price is $37.22. The stock has a market capitalization of $1.32 billion, a P/E ratio of 17.66 and a beta of 2.02.
CaesarStone Sdot-Yam (NASDAQ:CSTE) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.08. CaesarStone Sdot-Yam had a return on equity of 19.69% and a net margin of 14.46%. The company earned $142.30 million during the quarter, compared to the consensus estimate of $139.53 million. During the same period in the previous year, the company posted $0.65 earnings per share. CaesarStone Sdot-Yam’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, equities research analysts anticipate that CaesarStone Sdot-Yam Ltd. will post $2.58 earnings per share for the current fiscal year.
A number of equities research analysts have issued reports on CSTE shares. TheStreet lowered shares of CaesarStone Sdot-Yam from a “buy” rating to a “hold” rating in a report on Friday, September 9th. Zacks Investment Research raised shares of CaesarStone Sdot-Yam from a “hold” rating to a “strong-buy” rating and set a $48.00 price objective for the company in a report on Friday, August 5th. Finally, Credit Suisse Group AG reaffirmed an “outperform” rating and set a $47.00 price objective on shares of CaesarStone Sdot-Yam in a report on Wednesday, June 29th. One analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus 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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