The Manufacturers Life Insurance Company Sells 29,833 Shares of Caesarstone Ltd. (CSTE)

The Manufacturers Life Insurance Company cut its holdings in Caesarstone Ltd. (NASDAQ:CSTE) by 63.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,106 shares of the construction company’s stock after selling 29,833 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Caesarstone were worth $600,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of CSTE. Clal Insurance Enterprises Holdings Ltd lifted its stake in Caesarstone by 64.7% in the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 937,716 shares of the construction company’s stock worth $32,867,000 after purchasing an additional 368,340 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Caesarstone by 29.1% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 598,060 shares of the construction company’s stock valued at $20,962,000 after acquiring an additional 134,860 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Caesarstone by 1,234.7% during the second quarter. Ameriprise Financial Inc. now owns 142,320 shares of the construction company’s stock valued at $4,988,000 after acquiring an additional 131,657 shares during the last quarter. Quantitative Investment Management LLC bought a new position in shares of Caesarstone during the second quarter valued at about $1,959,000. Finally, OxFORD Asset Management LLP raised its stake in shares of Caesarstone by 232.8% during the second quarter. OxFORD Asset Management LLP now owns 52,105 shares of the construction company’s stock valued at $1,826,000 after acquiring an additional 36,449 shares during the last quarter. 49.64% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have recently commented on the stock. Zacks Investment Research raised shares of Caesarstone from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Wednesday, October 4th. J P Morgan Chase & Co downgraded shares of Caesarstone from a “neutral” rating to an “underweight” rating and set a $25.00 price objective for the company. in a research note on Thursday, November 2nd. Finally, Chardan Capital reaffirmed a “neutral” rating and set a $32.00 price objective (down from $43.00) on shares of Caesarstone in a research note on Tuesday, November 7th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. Caesarstone currently has a consensus rating of “Hold” and a consensus price target of $35.00.

Caesarstone Ltd. (NASDAQ CSTE) traded up $0.25 during mid-day trading on Thursday, reaching $23.70. 179,914 shares of the company were exchanged, compared to its average volume of 212,704. Caesarstone Ltd. has a 12 month low of $23.00 and a 12 month high of $44.00. The company has a market capitalization of $827.57, a P/E ratio of 17.72 and a beta of 2.10. The company has a current ratio of 3.31, a quick ratio of 2.20 and a debt-to-equity ratio of 0.02.

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Caesarstone Company Profile

Caesarstone Ltd., formerly Caesarstone Sdot-Yam Ltd., is a manufacturer of engineered quartz surfaces. The Company’s products consist of engineered quartz, which are installed as countertops in residential kitchens. Its products are primarily used as kitchen countertops in the renovation, remodeling and residential construction end markets.

Institutional Ownership by Quarter for Caesarstone (NASDAQ:CSTE)

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