StockNews.com Begins Coverage on Caesarstone (NASDAQ:CSTE)

StockNews.com began coverage on shares of Caesarstone (NASDAQ:CSTE) in a research report sent to investors on Saturday. The firm issued a hold rating on the construction company’s stock.

Caesarstone Price Performance

CSTE opened at $3.97 on Friday. The company has a market capitalization of $137.09 million, a price-to-earnings ratio of -1.98 and a beta of 0.17. Caesarstone has a 1-year low of $3.76 and a 1-year high of $6.81. The business has a 50 day moving average price of $4.38 and a two-hundred day moving average price of $4.46.

Institutional Trading of Caesarstone

Several large investors have recently added to or reduced their stakes in CSTE. Global Alpha Capital Management Ltd. boosted its holdings in Caesarstone by 1.0% in the fourth quarter. Global Alpha Capital Management Ltd. now owns 3,048,348 shares of the construction company’s stock worth $12,955,000 after purchasing an additional 29,100 shares in the last quarter. RBF Capital LLC boosted its holdings in Caesarstone by 3.8% in the fourth quarter. RBF Capital LLC now owns 388,107 shares of the construction company’s stock worth $1,658,000 after purchasing an additional 14,214 shares in the last quarter. Northern Trust Corp boosted its holdings in Caesarstone by 100.6% in the fourth quarter. Northern Trust Corp now owns 287,067 shares of the construction company’s stock worth $1,220,000 after purchasing an additional 143,963 shares in the last quarter. State Street Corp boosted its holdings in Caesarstone by 1.6% in the third quarter. State Street Corp now owns 163,335 shares of the construction company’s stock worth $745,000 after purchasing an additional 2,640 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Caesarstone by 98.8% during the fourth quarter. JPMorgan Chase & Co. now owns 81,088 shares of the construction company’s stock valued at $345,000 after acquiring an additional 40,291 shares during the period. 33.70% of the stock is owned by institutional investors and hedge funds.

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.