Acuitas Investments LLC Acquires Shares of 162,647 Caesarstone Ltd. (NASDAQ:CSTE)

Acuitas Investments LLC purchased a new stake in Caesarstone Ltd. (NASDAQ:CSTE - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 162,647 shares of the construction company's stock, valued at approximately $608,000. Acuitas Investments LLC owned 0.47% of Caesarstone at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CSTE. Yelin Lapidot Holdings Management Ltd. bought a new stake in shares of Caesarstone during the third quarter worth approximately $2,711,000. Citigroup Inc. boosted its stake in Caesarstone by 21,632.8% in the 3rd quarter. Citigroup Inc. now owns 53,680 shares of the construction company's stock valued at $230,000 after purchasing an additional 53,433 shares during the period. Barclays PLC grew its holdings in Caesarstone by 41.8% in the 3rd quarter. Barclays PLC now owns 22,591 shares of the construction company's stock valued at $98,000 after buying an additional 6,660 shares in the last quarter. Finally, Y.D. More Investments Ltd bought a new position in Caesarstone during the 3rd quarter worth $45,000. Institutional investors and hedge funds own 33.70% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Caesarstone from a "buy" rating to a "hold" rating in a research note on Thursday, February 22nd.

Caesarstone Price Performance

Shares of CSTE stock traded down $0.08 during trading on Friday, hitting $6.19. The company had a trading volume of 99,990 shares, compared to its average volume of 73,434. The stock's 50-day moving average price is $4.59 and its 200 day moving average price is $4.22. Caesarstone Ltd. has a one year low of $3.50 and a one year high of $6.81. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.51 and a current ratio of 2.64. The firm has a market capitalization of $213.74 million, a P/E ratio of -1.98 and a beta of 0.40.

Caesarstone (NASDAQ:CSTE - Get Free Report) last released its earnings results on Wednesday, February 21st. The construction company reported ($0.17) earnings per share for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.02). Caesarstone had a negative net margin of 19.05% and a negative return on equity of 12.71%. The company had revenue of $128.53 million for the quarter, compared to the consensus estimate of $124.94 million. During the same quarter in the previous year, the company posted ($0.03) earnings per share. Equities analysts expect that Caesarstone Ltd. will post -0.43 EPS for the current fiscal year.

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.