Empowered Funds LLC Acquires Shares of 36,053 Caesarstone Ltd. (NASDAQ:CSTE)

Empowered Funds LLC bought a new position in Caesarstone Ltd. (NASDAQ:CSTE) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 36,053 shares of the construction company’s stock, valued at approximately $164,000. Empowered Funds LLC owned about 0.10% of Caesarstone at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp bought a new stake in Caesarstone during the second quarter worth approximately $293,000. Rhumbline Advisers bought a new position in shares of Caesarstone during the 2nd quarter valued at approximately $107,000. Acadian Asset Management LLC purchased a new stake in Caesarstone during the 2nd quarter valued at $106,000. Finally, Gladius Capital Management LP bought a new stake in Caesarstone in the second quarter worth $28,000. 33.70% of the stock is currently owned by hedge funds and other institutional investors.

Caesarstone Trading Up 0.7 %

Shares of NASDAQ CSTE opened at $4.25 on Wednesday. The stock has a market cap of $146.75 million, a price-to-earnings ratio of -2.10 and a beta of 0.14. Caesarstone Ltd. has a 12 month low of $3.50 and a 12 month high of $6.81. The company has a 50 day simple moving average of $4.35 and a two-hundred day simple moving average of $4.98.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CSTE shares. StockNews.com downgraded Caesarstone from a “buy” rating to a “hold” rating in a report on Monday. Benchmark reduced their target price on Caesarstone from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th.

About Caesarstone

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.