Caesarstone Ltd. (CSTE) Position Increased by Voya Investment Management LLC
Voya Investment Management LLC boosted its stake in Caesarstone Ltd. (NASDAQ:CSTE) by 19.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,838 shares of the construction company’s stock after buying an additional 1,737 shares during the quarter. Voya Investment Management LLC’s holdings in Caesarstone were worth $380,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Penserra Capital Management LLC boosted its stake in Caesarstone by 13.0% in the 2nd quarter. Penserra Capital Management LLC now owns 3,328 shares of the construction company’s stock valued at $116,000 after buying an additional 384 shares in the last quarter. SG Americas Securities LLC raised its position in Caesarstone by 63.5% in the 2nd quarter. SG Americas Securities LLC now owns 4,577 shares of the construction company’s stock valued at $160,000 after purchasing an additional 1,778 shares during the last quarter. HighTower Advisors LLC bought a new position in Caesarstone in the 1st quarter valued at $214,000. Trexquant Investment LP bought a new position in Caesarstone in the 2nd quarter valued at $219,000. Finally, Principal Financial Group Inc. bought a new position in Caesarstone in the 2nd quarter valued at $225,000. 52.36% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have issued reports on CSTE. Zacks Investment Research downgraded Caesarstone from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Chardan Capital reiterated a “neutral” rating and issued a $32.00 price objective (down previously from $43.00) on shares of Caesarstone in a research report on Tuesday. J P Morgan Chase & Co downgraded Caesarstone from a “neutral” rating to an “underweight” rating and set a $25.00 price objective for the company. in a research report on Thursday, November 2nd. BidaskClub downgraded Caesarstone from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $47.00 price objective on shares of Caesarstone in a research report on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $35.00.
Shares of Caesarstone Ltd. (NASDAQ:CSTE) opened at $24.25 on Friday. The firm has a market capitalization of $844.74, a price-to-earnings ratio of 18.09 and a beta of 2.17. Caesarstone Ltd. has a 52-week low of $23.10 and a 52-week high of $44.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.20 and a current ratio of 3.31.
Caesarstone Ltd., formerly 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.
Want to see what other hedge funds are holding CSTE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caesarstone Ltd. (NASDAQ:CSTE).
Receive News & Ratings for Caesarstone Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caesarstone Ltd. and related companies with Analyst Ratings Network's FREE daily email newsletter.