StockNews.com initiated coverage on shares of Caesarstone (NASDAQ:CSTE – Free Report) in a report issued on Sunday. The brokerage issued a hold rating on the construction company’s stock.
Caesarstone Stock Performance
Shares of CSTE stock opened at $3.72 on Friday. The stock’s 50-day moving average is $4.25 and its two-hundred day moving average is $4.41. Caesarstone has a 1 year low of $3.70 and a 1 year high of $6.81. The firm has a market cap of $128.45 million, a price-to-earnings ratio of -1.85 and a beta of 0.17.
Institutional Investors Weigh In On Caesarstone
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of Caesarstone by 1.6% in the 3rd quarter. State Street Corp now owns 163,335 shares of the construction company’s stock valued at $745,000 after acquiring an additional 2,640 shares during the period. Empowered Funds LLC purchased a new position in Caesarstone during the 3rd quarter worth $164,000. Jane Street Group LLC acquired a new position in Caesarstone in the third quarter valued at $55,000. JPMorgan Chase & Co. raised its holdings in shares of Caesarstone by 189.5% in the third quarter. JPMorgan Chase & Co. now owns 40,797 shares of the construction company’s stock valued at $186,000 after buying an additional 26,705 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of Caesarstone by 87.5% during the third quarter. Barclays PLC now owns 43,445 shares of the construction company’s stock worth $198,000 after buying an additional 20,271 shares during the period. Hedge funds and other institutional investors own 33.70% of the company’s stock.
About Caesarstone
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.
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