Calgon Carbon Corporation (CCC) Sees Significant Increase in Short Interest
Calgon Carbon Corporation (NYSE:CCC) was the target of a large growth in short interest in the month of September. As of September 29th, there was short interest totalling 4,837,563 shares, a growth of 250.5% from the September 15th total of 1,380,150 shares. Approximately 9.7% of the company’s shares are short sold. Based on an average daily trading volume, of 4,050,105 shares, the days-to-cover ratio is presently 1.2 days.
Calgon Carbon Corporation (NYSE CCC) opened at 21.60 on Friday. The firm’s 50-day moving average price is $17.18 and its 200-day moving average price is $15.17. Calgon Carbon Corporation has a 12-month low of $12.00 and a 12-month high of $22.10. The company has a market cap of $1.10 billion, a PE ratio of 155.40 and a beta of 1.28.
Calgon Carbon Corporation (NYSE:CCC) last posted its earnings results on Friday, August 4th. The industrial products company reported $0.14 EPS for the quarter, hitting the consensus estimate of $0.14. The company had revenue of $153.00 million during the quarter, compared to the consensus estimate of $151.18 million. Calgon Carbon Corporation had a net margin of 1.27% and a return on equity of 5.46%. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.15 earnings per share. Equities research analysts forecast that Calgon Carbon Corporation will post $0.50 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Tuesday, September 5th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.93%. The ex-dividend date was Thursday, August 31st. Calgon Carbon Corporation’s payout ratio is presently 133.33%.
Several large investors have recently bought and sold shares of the company. Rutabaga Capital Management LLC MA bought a new stake in shares of Calgon Carbon Corporation during the second quarter worth about $18,669,000. Piedmont Investment Advisors LLC bought a new stake in shares of Calgon Carbon Corporation during the second quarter worth about $166,000. Robecosam AG increased its position in shares of Calgon Carbon Corporation by 6.6% during the second quarter. Robecosam AG now owns 459,502 shares of the industrial products company’s stock worth $6,961,000 after acquiring an additional 28,543 shares in the last quarter. Highlander Capital Management LLC increased its position in shares of Calgon Carbon Corporation by 9.0% during the second quarter. Highlander Capital Management LLC now owns 189,935 shares of the industrial products company’s stock worth $2,849,000 after acquiring an additional 15,760 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Calgon Carbon Corporation by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 39,264 shares of the industrial products company’s stock worth $593,000 after acquiring an additional 156 shares in the last quarter. 85.18% of the stock is owned by institutional investors.
A number of equities analysts have issued reports on CCC shares. BidaskClub upgraded Calgon Carbon Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. Sidoti reiterated a “buy” rating and set a $20.00 target price (up previously from $18.00) on shares of Calgon Carbon Corporation in a report on Wednesday, July 12th. Robert W. Baird cut Calgon Carbon Corporation from an “outperform” rating to a “hold” rating in a report on Tuesday, September 26th. Zacks Investment Research upgraded Calgon Carbon Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, September 13th. Finally, Janney Montgomery Scott cut Calgon Carbon Corporation from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $18.00 to $16.00 in a report on Thursday, July 13th. Three investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $19.63.
About Calgon Carbon Corporation
Calgon Carbon Corporation is a manufacturer of activated carbon, with capabilities in ultraviolet (UV) light disinfection. The Company provides purification solutions for drinking water, wastewater, pollution abatement, and a range of industrial and commercial manufacturing processes. The Company operates through four segments: Activated Carbon and Service, Equipment, Consumer and Other.
Receive News & Ratings for Calgon Carbon Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Calgon Carbon Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.