14,380 Shares in Caesarstone Ltd. (CSTE) Acquired by Prudential Financial Inc.

Prudential Financial Inc. purchased a new position in Caesarstone Ltd. (NASDAQ:CSTE) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 14,380 shares of the construction company’s stock, valued at approximately $504,000.

Several other large investors have also bought and sold shares of the business. State Street Corp grew its stake in shares of Caesarstone by 2.8% in the first quarter. State Street Corp now owns 499,893 shares of the construction company’s stock worth $18,119,000 after acquiring an additional 13,503 shares in the last quarter. Teachers Advisors LLC grew its stake in shares of Caesarstone by 12.6% in the first quarter. Teachers Advisors LLC now owns 439,989 shares of the construction company’s stock worth $15,950,000 after acquiring an additional 49,221 shares in the last quarter. TIAA CREF Investment Management LLC grew its stake in shares of Caesarstone by 14.1% in the first quarter. TIAA CREF Investment Management LLC now owns 366,670 shares of the construction company’s stock worth $13,292,000 after acquiring an additional 45,352 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Caesarstone by 10.0% in the first quarter. Bank of America Corp DE now owns 216,594 shares of the construction company’s stock worth $7,851,000 after acquiring an additional 19,689 shares in the last quarter. Finally, Analyst IMS Investment Management Services Ltd. grew its stake in shares of 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 worth $4,655,000 after acquiring an additional 441 shares in the last quarter. Institutional investors and hedge funds own 52.87% of the company’s stock.

Shares of Caesarstone Ltd. (NASDAQ:CSTE) opened at 29.35 on Wednesday. The stock has a market capitalization of $1.01 billion, a PE ratio of 16.77 and a beta of 2.07. Caesarstone Ltd. has a 52-week low of $26.35 and a 52-week high of $44.00. The stock’s 50 day moving average is $29.18 and its 200 day moving average is $34.20.

Caesarstone (NASDAQ:CSTE) last released its quarterly earnings results on Wednesday, August 2nd. The construction company reported $0.42 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.14). The firm had revenue of $148.90 million for the quarter, compared to analyst estimates of $148.35 million. Caesarstone had a net margin of 11.21% and a return on equity of 14.21%. Caesarstone’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.73 earnings per share. Equities research analysts expect that Caesarstone Ltd. will post $1.94 earnings per share for the current fiscal year.

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Several research firms have commented on CSTE. BidaskClub downgraded shares of Caesarstone from a “buy” rating to a “hold” rating in a research note on Saturday, June 17th. Zacks Investment Research downgraded shares of Caesarstone from a “buy” rating to a “hold” rating in a research note on Tuesday. Stifel Nicolaus restated a “buy” rating and issued a $47.00 price target on shares of Caesarstone in a research note on Thursday, August 3rd. TheStreet downgraded shares of Caesarstone from a “b-” rating to a “c+” rating in a research note on Wednesday, June 28th. Finally, Credit Suisse Group began coverage on shares of Caesarstone in a research note on Thursday, June 22nd. They issued a “neutral” rating and a $37.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $38.20.

About Caesarstone

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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