Caesarstone (NASDAQ:CSTE) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com initiated coverage on shares of Caesarstone (NASDAQ:CSTE) in a research note issued to investors on Sunday. The firm set a “hold” rating on the construction company’s stock.

Caesarstone Stock Down 0.5 %

CSTE opened at $3.78 on Friday. The business’s fifty day simple moving average is $4.27 and its 200 day simple moving average is $4.42. Caesarstone has a 52 week low of $3.70 and a 52 week high of $6.81. The stock has a market cap of $130.52 million, a PE ratio of -1.88 and a beta of 0.17.

Institutional Trading of Caesarstone

Hedge funds have recently bought and sold shares of the company. Northern Trust Corp grew its holdings in shares of Caesarstone by 100.6% during the 4th quarter. Northern Trust Corp now owns 287,067 shares of the construction company’s stock valued at $1,220,000 after purchasing an additional 143,963 shares during the last quarter. Global Alpha Capital Management Ltd. boosted its position in Caesarstone by 1.6% during the third quarter. Global Alpha Capital Management Ltd. now owns 3,019,248 shares of the construction company’s stock valued at $13,768,000 after buying an additional 48,200 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Caesarstone by 1,206.4% during the third quarter. BNP Paribas Financial Markets now owns 46,704 shares of the construction company’s stock valued at $213,000 after buying an additional 43,129 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Caesarstone by 98.8% in the fourth quarter. JPMorgan Chase & Co. now owns 81,088 shares of the construction company’s stock worth $345,000 after buying an additional 40,291 shares during the period. Finally, Empowered Funds LLC purchased a new position in shares of Caesarstone in the third quarter worth about $164,000. Institutional investors own 33.70% of the company’s stock.

Caesarstone Company 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.