Caesarstone (NASDAQ:CSTE) Now Covered by Analysts at StockNews.com

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

Caesarstone Stock Down 2.2 %

CSTE stock opened at $3.97 on Friday. The firm has a 50 day moving average of $4.39 and a two-hundred day moving average of $4.49. The company has a market capitalization of $137.08 million, a price-to-earnings ratio of -1.98 and a beta of 0.17. Caesarstone has a 12 month low of $3.76 and a 12 month high of $6.81.

Institutional Trading of Caesarstone

Several large investors have recently modified their holdings of CSTE. Empowered Funds LLC bought a new stake in shares of Caesarstone during the 3rd quarter worth $164,000. Global Alpha Capital Management Ltd. boosted its holdings in shares of Caesarstone by 1.6% during the 3rd quarter. Global Alpha Capital Management Ltd. now owns 3,019,248 shares of the construction company’s stock worth $13,768,000 after buying an additional 48,200 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Caesarstone by 1,206.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 46,704 shares of the construction company’s stock worth $213,000 after buying an additional 43,129 shares during the period. State Street Corp boosted its holdings in Caesarstone by 1.6% in the 3rd quarter. State Street Corp now owns 163,335 shares of the construction company’s stock valued at $745,000 after purchasing an additional 2,640 shares during the period. Finally, Jane Street Group LLC bought a new stake in Caesarstone in the 3rd quarter valued at $55,000. 33.70% of the stock is owned by institutional investors.

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.