California Public Employees Retirement System raised its stake in Carbo Ceramics Inc. (NYSE:CRR) by 10.9% during the second quarter, Holdings Channel reports. The institutional investor owned 303,300 shares of the company’s stock after buying an additional 29,900 shares during the period. California Public Employees Retirement System owned 1.29% of Carbo Ceramics worth $3,973,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of CRR. Prudential Financial Inc. increased its stake in shares of Carbo Ceramics by 17.5% in the first quarter. Prudential Financial Inc. now owns 56,977 shares of the company’s stock worth $810,000 after buying an additional 8,500 shares during the period. BlackRock Inc. increased its stake in shares of Carbo Ceramics by 343.9% in the first quarter. BlackRock Inc. now owns 66,347 shares of the company’s stock worth $942,000 after buying an additional 51,399 shares during the period. BlackRock Group LTD increased its stake in shares of Carbo Ceramics by 176.2% in the first quarter. BlackRock Group LTD now owns 148,825 shares of the company’s stock worth $2,113,000 after buying an additional 94,945 shares during the period. BlackRock Fund Advisors increased its stake in shares of Carbo Ceramics by 0.8% in the first quarter. BlackRock Fund Advisors now owns 1,326,655 shares of the company’s stock worth $18,839,000 after buying an additional 9,947 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of Carbo Ceramics by 2.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 483,684 shares of the company’s stock worth $6,868,000 after buying an additional 11,280 shares during the period. Institutional investors own 92.38% of the company’s stock.

Shares of Carbo Ceramics Inc. (NYSE:CRR) traded up 3.10% on Wednesday, reaching $10.96. The company’s stock had a trading volume of 628,555 shares. The stock’s market capitalization is $257.54 million. Carbo Ceramics Inc. has a 52 week low of $10.52 and a 52 week high of $25.62. The stock has a 50-day moving average of $13.17 and a 200 day moving average of $13.90.

Carbo Ceramics (NYSE:CRR) last posted its quarterly earnings results on Thursday, July 28th. The company reported ($0.88) EPS for the quarter, beating the consensus estimate of ($0.89) by $0.01. The firm earned $20.70 million during the quarter, compared to analysts’ expectations of $24.70 million. Carbo Ceramics had a negative return on equity of 7.16% and a negative net margin of 58.46%. The company’s revenue for the quarter was down 71.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.41) EPS. On average, analysts expect that Carbo Ceramics Inc. will post ($3.24) EPS for the current year.

A number of equities research analysts have recently weighed in on CRR shares. Howard Weil lowered their price target on Carbo Ceramics from $18.00 to $15.00 and set a “sector perform” rating for the company in a report on Tuesday, June 7th. Zacks Investment Research downgraded Carbo Ceramics from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Scotiabank reiterated a “sector perform” rating and issued a $15.00 price target (down from $18.00) on shares of Carbo Ceramics in a report on Tuesday, June 7th. Finally, Goldman Sachs Group Inc. reiterated a “sell” rating and issued a $8.00 price target on shares of Carbo Ceramics in a report on Wednesday, June 15th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. Carbo Ceramics has a consensus rating of “Hold” and an average price target of $18.57.

Carbo Ceramics Company Profile

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.

5 Day Chart for NYSE:CRR

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