Acuitas Investments LLC Makes New $608,000 Investment in Caesarstone Ltd. (NASDAQ:CSTE)

Acuitas Investments LLC acquired a new position in Caesarstone Ltd. (NASDAQ:CSTE) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 162,647 shares of the construction company’s stock, valued at approximately $608,000.

Several other hedge funds also recently modified their holdings of CSTE. Yelin Lapidot Holdings Management Ltd. bought a new position in Caesarstone during the 3rd quarter worth $2,711,000. Citigroup Inc. increased its stake in Caesarstone by 21,632.8% in the third quarter. Citigroup Inc. now owns 53,680 shares of the construction company’s stock valued at $230,000 after acquiring an additional 53,433 shares during the last quarter. Y.D. More Investments Ltd acquired a new position in Caesarstone during the third quarter valued at approximately $45,000. Finally, Barclays PLC lifted its stake in Caesarstone by 41.8% during the third quarter. Barclays PLC now owns 22,591 shares of the construction company’s stock worth $98,000 after purchasing an additional 6,660 shares during the last quarter. Institutional investors own 33.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Caesarstone from a “buy” rating to a “hold” rating in a research report on Thursday, February 22nd.

Caesarstone Stock Up 0.5 %

NASDAQ CSTE traded up $0.03 during trading hours on Friday, reaching $6.30. The company’s stock had a trading volume of 22,868 shares, compared to its average volume of 72,477. The firm has a fifty day simple moving average of $4.54 and a 200-day simple moving average of $4.20. The company has a quick ratio of 1.51, a current ratio of 2.64 and a debt-to-equity ratio of 0.01. Caesarstone Ltd. has a 52 week low of $3.50 and a 52 week high of $6.81.

Caesarstone (NASDAQ:CSTE) last issued its quarterly earnings results on Wednesday, February 21st. The construction company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). The business had revenue of $128.53 million for the quarter, compared to analyst estimates of $124.94 million. Caesarstone had a negative return on equity of 12.71% and a negative net margin of 19.05%. During the same quarter last year, the firm posted ($0.03) EPS. On average, equities analysts anticipate that Caesarstone Ltd. will post -0.43 earnings per share for the current year.

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.