Geode Capital Management LLC Sells 3,944 Shares of Caesarstone Ltd. (NASDAQ:CSTE)

Geode Capital Management LLC cut its stake in Caesarstone Ltd. (NASDAQ:CSTE) by 1.4% in the third quarter, Holdings Channel reports. The institutional investor owned 271,110 shares of the construction company’s stock after selling 3,944 shares during the period. Geode Capital Management LLC’s holdings in Caesarstone were worth $1,236,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Jane Street Group LLC purchased a new stake in shares of Caesarstone in the third quarter valued at $55,000. Acadian Asset Management LLC purchased a new stake in Caesarstone in the 2nd quarter worth about $106,000. Rhumbline Advisers purchased a new stake in Caesarstone in the 2nd quarter worth about $107,000. Empowered Funds LLC bought a new stake in Caesarstone in the third quarter worth about $164,000. Finally, Barclays PLC boosted its position in shares of Caesarstone by 87.5% during the third quarter. Barclays PLC now owns 43,445 shares of the construction company’s stock valued at $198,000 after buying an additional 20,271 shares during the period. 33.70% of the stock is owned by hedge funds and other institutional investors.

Caesarstone Trading Down 2.1 %

NASDAQ:CSTE opened at $4.16 on Friday. The company has a market cap of $143.65 million, a price-to-earnings ratio of -2.07 and a beta of 0.18. Caesarstone Ltd. has a twelve month low of $3.76 and a twelve month high of $6.81. The stock has a fifty day simple moving average of $4.38 and a 200-day simple moving average of $4.70.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Caesarstone from a “hold” rating to a “buy” rating in a report on Saturday, January 4th.

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.