Goldman Sachs Group Inc. Lowers Position in Calgon Carbon Corporation (CCC)
Goldman Sachs Group Inc. reduced its stake in shares of Calgon Carbon Corporation (NYSE:CCC) by 40.6% during the first quarter, Holdings Channel reports. The firm owned 58,252 shares of the industrial products company’s stock after selling 39,769 shares during the period. Goldman Sachs Group Inc.’s holdings in Calgon Carbon Corporation were worth $850,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in CCC. Bank of New York Mellon Corp increased its position in Calgon Carbon Corporation by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 1,503,373 shares of the industrial products company’s stock valued at $21,948,000 after buying an additional 10,322 shares during the period. US Bancorp DE increased its position in Calgon Carbon Corporation by 11.5% in the first quarter. US Bancorp DE now owns 40,539 shares of the industrial products company’s stock valued at $592,000 after buying an additional 4,168 shares during the period. Princeton Alpha Management LP increased its position in Calgon Carbon Corporation by 20.0% in the first quarter. Princeton Alpha Management LP now owns 20,249 shares of the industrial products company’s stock valued at $296,000 after buying an additional 3,381 shares during the period. Capital Fund Management S.A. acquired a new position in Calgon Carbon Corporation during the first quarter valued at approximately $457,000. Finally, Eqis Capital Management Inc. increased its position in Calgon Carbon Corporation by 14.2% in the first quarter. Eqis Capital Management Inc. now owns 11,846 shares of the industrial products company’s stock valued at $173,000 after buying an additional 1,472 shares during the period. Institutional investors and hedge funds own 81.60% of the company’s stock.
Calgon Carbon Corporation (CCC) traded down 0.36% during midday trading on Tuesday, reaching $14.00. 88,831 shares of the company traded hands. The firm has a 50-day moving average price of $15.49 and a 200-day moving average price of $14.75. The firm has a market capitalization of $711.12 million, a price-to-earnings ratio of 100.72 and a beta of 1.09. Calgon Carbon Corporation has a one year low of $13.10 and a one year high of $18.80.
Calgon Carbon Corporation (NYSE:CCC) last posted its earnings results on Friday, August 4th. The industrial products company reported $0.14 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.14. The business had revenue of $153 million during the quarter, compared to analyst estimates of $151.18 million. Calgon Carbon Corporation had a return on equity of 5.46% and a net margin of 1.27%. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.15 EPS. Equities analysts predict that Calgon Carbon Corporation will post $0.52 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, September 5th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Thursday, August 31st. Calgon Carbon Corporation’s payout ratio is presently 133.33%.
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Several research firms recently commented on CCC. Janney Montgomery Scott downgraded shares of Calgon Carbon Corporation from a “buy” rating to a “neutral” rating and decreased their price target for the company from $18.00 to $16.00 in a research note on Thursday, July 13th. Sidoti restated a “buy” rating and issued a $20.00 price target (up from $18.00) on shares of Calgon Carbon Corporation in a research note on Wednesday, July 12th. Zacks Investment Research upgraded shares of Calgon Carbon Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. BidaskClub upgraded shares of Calgon Carbon Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, July 11th. Finally, ValuEngine upgraded shares of Calgon Carbon Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 3rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Calgon Carbon Corporation presently has a consensus rating of “Hold” and a consensus target price of $18.20.
In other Calgon Carbon Corporation news, Director J Rich Alexander sold 5,251 shares of Calgon Carbon Corporation stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $14.25, for a total transaction of $74,826.75. Following the completion of the transaction, the director now owns 24,183 shares of the company’s stock, valued at approximately $344,607.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.32% of the stock is owned by insiders.
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.
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