Bridgeway Capital Management LLC Sells 13,329 Shares of Caesarstone Ltd. (NASDAQ:CSTE)

Bridgeway Capital Management LLC lowered its position in shares of Caesarstone Ltd. (NASDAQ:CSTE) by 8.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 145,901 shares of the construction company’s stock after selling 13,329 shares during the quarter. Bridgeway Capital Management LLC owned 0.42% of Caesarstone worth $620,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Two Sigma Securities LLC acquired a new stake in Caesarstone in the 4th quarter valued at $46,000. Wells Fargo & Company MN increased its position in shares of Caesarstone by 27.9% during the 4th quarter. Wells Fargo & Company MN now owns 12,148 shares of the construction company’s stock worth $52,000 after purchasing an additional 2,647 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Caesarstone during the 3rd quarter worth approximately $55,000. Bank of America Corp DE grew its stake in shares of Caesarstone by 18.0% in the fourth quarter. Bank of America Corp DE now owns 36,858 shares of the construction company’s stock valued at $157,000 after buying an additional 5,618 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Caesarstone by 189.5% during the third quarter. JPMorgan Chase & Co. now owns 40,797 shares of the construction company’s stock worth $186,000 after buying an additional 26,705 shares during the last quarter. 33.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Caesarstone in a research note on Tuesday, March 11th. They issued a “hold” rating for the company.

Caesarstone Stock Performance

Caesarstone stock opened at $2.18 on Monday. The stock has a 50-day simple moving average of $2.76 and a 200 day simple moving average of $3.74. The stock has a market capitalization of $75.32 million, a P/E ratio of -1.08 and a beta of 0.35. Caesarstone Ltd. has a 52 week low of $2.10 and a 52 week high of $6.54.

Caesarstone (NASDAQ:CSTE) last issued its earnings results on Wednesday, March 5th. The construction company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.12). Caesarstone had a negative return on equity of 9.61% and a negative net margin of 14.56%. The business had revenue of $97.86 million for the quarter, compared to the consensus estimate of $99.40 million. During the same quarter in the prior year, the firm posted ($0.28) earnings per share.

Caesarstone Profile

Caesarstone Ltd., together with its subsidiaries, designs, develops, manufactures, and markets engineered stone and other materials under the Caesarstone brand in the United States, Canada, Latin America, Australia, Asia, Europe, the Middle East and Africa, and Israel. The company’s engineered stone slabs are primarily used as indoor and outdoor kitchen countertops in the renovation and remodeling, and residential construction sectors.