Global Alpha Capital Management Ltd. Boosts Stock Holdings in Caesarstone Ltd. (NASDAQ:CSTE)

Global Alpha Capital Management Ltd. increased its position in Caesarstone Ltd. (NASDAQ:CSTE) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,048,348 shares of the construction company’s stock after acquiring an additional 29,100 shares during the period. Global Alpha Capital Management Ltd. owned about 8.83% of Caesarstone worth $12,955,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its stake 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 worth $745,000 after buying an additional 2,640 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Caesarstone during the third quarter worth $164,000. Jane Street Group LLC purchased a new position in Caesarstone during the third quarter valued at $55,000. JPMorgan Chase & Co. increased its holdings in Caesarstone by 189.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 40,797 shares of the construction company’s stock valued at $186,000 after acquiring an additional 26,705 shares during the last quarter. Finally, Barclays PLC lifted its stake in Caesarstone by 87.5% in the 3rd quarter. Barclays PLC now owns 43,445 shares of the construction company’s stock worth $198,000 after purchasing an additional 20,271 shares in the last quarter. 33.70% of the stock is owned by institutional investors.

Caesarstone Price Performance

NASDAQ:CSTE opened at $3.27 on Friday. The company has a market cap of $112.92 million, a price-to-earnings ratio of -1.63 and a beta of 0.10. Caesarstone Ltd. has a 1 year low of $3.24 and a 1 year high of $6.81. The stock’s 50 day simple moving average is $4.12 and its two-hundred day simple moving average is $4.37.

Caesarstone (NASDAQ:CSTE) last issued its quarterly earnings data on Wednesday, March 5th. The construction company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.12). The business had revenue of $97.86 million during the quarter, compared to analysts’ expectations of $99.40 million. Caesarstone had a negative return on equity of 9.61% and a negative net margin of 14.56%. During the same period in the previous year, the business earned ($0.28) earnings per share.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Caesarstone in a research report on Monday, March 3rd. They set a “hold” rating for the company.

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.