Vanguard Group Inc. Trims Stake in Caesarstone Ltd. (CSTE)

Vanguard Group Inc. trimmed its holdings in Caesarstone Ltd. (NASDAQ:CSTE) by 13.2% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 73,704 shares of the construction company’s stock after selling 11,205 shares during the period. Vanguard Group Inc. owned 0.21% of Caesarstone worth $2,583,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CSTE. Penserra Capital Management LLC raised its holdings in Caesarstone by 13.0% during the second quarter. Penserra Capital Management LLC now owns 3,328 shares of the construction company’s stock worth $116,000 after purchasing an additional 384 shares in the last quarter. SG Americas Securities LLC raised its holdings in Caesarstone by 63.5% during the second quarter. SG Americas Securities LLC now owns 4,577 shares of the construction company’s stock worth $160,000 after purchasing an additional 1,778 shares in the last quarter. Trexquant Investment LP purchased a new position in Caesarstone during the second quarter worth about $219,000. Principal Financial Group Inc. purchased a new position in Caesarstone during the second quarter worth about $225,000. Finally, Renaissance Group LLC purchased a new position in Caesarstone during the second quarter worth about $432,000. 49.64% of the stock is owned by institutional investors and hedge funds.

Caesarstone Ltd. (NASDAQ CSTE) opened at $23.45 on Thursday. The company has a current ratio of 3.31, a quick ratio of 2.20 and a debt-to-equity ratio of 0.02. Caesarstone Ltd. has a 1 year low of $23.00 and a 1 year high of $44.00. The firm has a market cap of $827.57, a PE ratio of 17.72 and a beta of 2.10.

Several research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Caesarstone from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 7th. Chardan Capital reissued a “neutral” rating and set a $32.00 price target (down from $43.00) on shares of Caesarstone in a report on Tuesday, November 7th. Finally, J P Morgan Chase & Co cut shares of Caesarstone from a “neutral” rating to an “underweight” rating and set a $25.00 price target for the company. in a report on Thursday, November 2nd. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. Caesarstone has a consensus rating of “Hold” and a consensus price target of $35.00.

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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.

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Institutional Ownership by Quarter for Caesarstone (NASDAQ:CSTE)

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