Global Alpha Capital Management Ltd. Grows Position in Caesarstone Ltd. (NASDAQ:CSTE)

Global Alpha Capital Management Ltd. lifted its stake in Caesarstone Ltd. (NASDAQ:CSTE) by 1.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,019,248 shares of the construction company’s stock after buying an additional 48,200 shares during the quarter. Global Alpha Capital Management Ltd. owned approximately 8.74% of Caesarstone worth $13,768,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CSTE. Gladius Capital Management LP purchased a new stake in Caesarstone during the second quarter valued at $28,000. Acadian Asset Management LLC purchased a new stake in shares of Caesarstone in the second quarter valued at $106,000. Rhumbline Advisers purchased a new stake in shares of Caesarstone in the second quarter valued at $107,000. Empowered Funds LLC bought a new position in shares of Caesarstone in the third quarter worth about $164,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Caesarstone in the second quarter worth about $293,000. Hedge funds and other institutional investors own 33.70% of the company’s stock.

Caesarstone Stock Down 0.8 %

CSTE stock opened at $3.88 on Wednesday. Caesarstone Ltd. has a 52 week low of $3.50 and a 52 week high of $6.81. The firm has a 50 day moving average of $4.40 and a 200 day moving average of $5.04. The stock has a market capitalization of $133.98 million, a PE ratio of -1.93 and a beta of 0.14.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Benchmark dropped their target price on shares of Caesarstone from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. StockNews.com downgraded shares of Caesarstone from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th.

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.