Empowered Funds LLC Makes New Investment in Caesarstone Ltd. (NASDAQ:CSTE)

Empowered Funds LLC bought a new stake in Caesarstone Ltd. (NASDAQ:CSTE) during the third quarter, Holdings Channel.com reports. The firm bought 36,053 shares of the construction company’s stock, valued at approximately $164,000.

Several other large investors have also modified their holdings of the business. Gladius Capital Management LP acquired a new stake in Caesarstone in the 2nd quarter valued at approximately $28,000. Bank of New York Mellon Corp purchased a new position in shares of Caesarstone during the second quarter worth $293,000. Rhumbline Advisers acquired a new stake in shares of Caesarstone in the second quarter valued at $107,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Caesarstone in the 2nd quarter valued at $106,000. Institutional investors and hedge funds own 33.70% of the company’s stock.

Caesarstone Price Performance

CSTE stock opened at $4.25 on Wednesday. Caesarstone Ltd. has a 12 month low of $3.50 and a 12 month high of $6.81. The company has a market cap of $146.75 million, a price-to-earnings ratio of -2.10 and a beta of 0.14. The company has a fifty day moving average price of $4.35 and a 200 day moving average price of $4.98.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CSTE shares. StockNews.com cut shares of Caesarstone from a “buy” rating to a “hold” rating in a report on Monday. Benchmark dropped their price target on shares of Caesarstone from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday, August 8th.

Caesarstone Company 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.