Northern Trust Corp Boosts Stake in Caesarstone Ltd. (NASDAQ:CSTE)

Northern Trust Corp increased its holdings in shares of Caesarstone Ltd. (NASDAQ:CSTE - Free Report) by 100.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 287,067 shares of the construction company's stock after purchasing an additional 143,963 shares during the quarter. Northern Trust Corp owned 0.83% of Caesarstone worth $1,220,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Global Alpha Capital Management Ltd. grew its stake in shares of 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 valued at $12,955,000 after buying an additional 29,100 shares in the last quarter. RBF Capital LLC grew its stake in shares of Caesarstone by 3.8% in the fourth quarter. RBF Capital LLC now owns 388,107 shares of the construction company's stock valued at $1,658,000 after buying an additional 14,214 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Caesarstone by 98.8% during the 4th quarter. JPMorgan Chase & Co. now owns 81,088 shares of the construction company's stock worth $345,000 after purchasing an additional 40,291 shares in the last quarter. Barclays PLC grew its stake in Caesarstone by 8.4% during the 4th quarter. Barclays PLC now owns 47,077 shares of the construction company's stock worth $199,000 after purchasing an additional 3,632 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in Caesarstone by 27.9% during the 4th quarter. Wells Fargo & Company MN now owns 12,148 shares of the construction company's stock worth $52,000 after purchasing an additional 2,647 shares in the last quarter. 33.70% of the stock is owned by institutional investors and hedge funds.

Caesarstone Trading Up 1.2%

CSTE traded up $0.02 on Monday, hitting $1.72. 260,502 shares of the company were exchanged, compared to its average volume of 81,213. Caesarstone Ltd. has a twelve month low of $1.67 and a twelve month high of $6.54. The company has a market cap of $59.42 million, a price-to-earnings ratio of -0.86 and a beta of 0.35. The firm has a 50-day moving average price of $2.42 and a two-hundred day moving average price of $3.48.

Caesarstone (NASDAQ:CSTE - Get Free Report) last announced its quarterly earnings results on Wednesday, March 5th. The construction company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.12). The business had revenue of $97.86 million for 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 last year, the firm earned ($0.28) earnings per share.

Wall Street Analyst Weigh In

Separately, Wall Street Zen assumed coverage on Caesarstone in a research note on Tuesday, March 11th. They set a "hold" rating for the company.

Caesarstone 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.