Penserra Capital Management LLC raised its position in Caesarstone Ltd. (NASDAQ:CSTE) by 13.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 3,328 shares of the construction company’s stock after buying an additional 384 shares during the period. Penserra Capital Management LLC’s holdings in Caesarstone were worth $116,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CSTE. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Caesarstone by 5.1% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 3,948 shares of the construction company’s stock worth $143,000 after buying an additional 191 shares during the period. Rhumbline Advisers raised its position in Caesarstone by 1.1% in the second quarter. Rhumbline Advisers now owns 25,918 shares of the construction company’s stock valued at $908,000 after buying an additional 279 shares in the last quarter. Analyst IMS Investment Management Services Ltd. raised its position in Caesarstone by 0.3% in the second quarter. Analyst IMS Investment Management Services Ltd. now owns 132,815 shares of the construction company’s stock valued at $4,655,000 after buying an additional 441 shares in the last quarter. American International Group Inc. raised its position in Caesarstone by 7.1% in the first quarter. American International Group Inc. now owns 14,676 shares of the construction company’s stock valued at $532,000 after buying an additional 971 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Caesarstone by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 64,418 shares of the construction company’s stock valued at $2,335,000 after buying an additional 1,150 shares in the last quarter. 53.13% of the stock is currently owned by institutional investors.

Caesarstone Ltd. (CSTE) opened at 28.60 on Wednesday. The company has a market cap of $982.04 million, a price-to-earnings ratio of 16.34 and a beta of 2.08. The stock’s 50 day moving average is $32.50 and its 200 day moving average is $35.15. Caesarstone Ltd. has a 52-week low of $26.35 and a 52-week high of $44.00.

Caesarstone (NASDAQ:CSTE) last announced its quarterly earnings data on Wednesday, August 2nd. The construction company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.56 by $0.14. Caesarstone had a return on equity of 14.21% and a net margin of 11.21%. The business had revenue of $148.90 million for the quarter, compared to the consensus estimate of $148.35 million. During the same quarter in the prior year, the company earned $0.73 earnings per share. Caesarstone’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, analysts predict that Caesarstone Ltd. will post $1.94 earnings per share for the current fiscal year.

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Several equities analysts have recently commented on the stock. BidaskClub lowered shares of Caesarstone from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Stifel Nicolaus restated a “buy” rating and set a $47.00 price target on shares of Caesarstone in a research report on Thursday, August 3rd. Zacks Investment Research upgraded shares of Caesarstone from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 11th. TheStreet lowered shares of Caesarstone from a “b-” rating to a “c+” rating in a research report on Wednesday, June 28th. Finally, Credit Suisse Group assumed coverage on shares of Caesarstone in a research report on Thursday, June 22nd. They set a “neutral” rating and a $37.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $38.20.

Caesarstone Company Profile

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.

Institutional Ownership by Quarter for Caesarstone (NASDAQ:CSTE)

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