Essex Investment Management Co. LLC Decreases Position in Caesarstone Ltd. (NASDAQ:CSTE)

Essex Investment Management Co. LLC decreased its position in Caesarstone Ltd. (NASDAQ:CSTE) by 66.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 113,320 shares of the construction company’s stock after selling 219,799 shares during the period. Essex Investment Management Co. LLC owned about 0.33% of Caesarstone worth $275,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the company. Two Sigma Securities LLC purchased a new position in shares of Caesarstone during the 4th quarter worth approximately $46,000. Wells Fargo & Company MN grew its position in Caesarstone by 27.9% in the 4th quarter. Wells Fargo & Company MN now owns 12,148 shares of the construction company’s stock worth $52,000 after purchasing an additional 2,647 shares during the period. Bank of America Corp DE lifted its holdings in Caesarstone by 18.0% in the fourth quarter. Bank of America Corp DE now owns 36,858 shares of the construction company’s stock valued at $157,000 after acquiring an additional 5,618 shares during the period. Barclays PLC grew its position in Caesarstone by 8.4% during the fourth quarter. Barclays PLC now owns 47,077 shares of the construction company’s stock valued at $199,000 after buying an additional 3,632 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Caesarstone by 98.8% in the 4th quarter. JPMorgan Chase & Co. now owns 81,088 shares of the construction company’s stock worth $345,000 after purchasing an additional 40,291 shares in the last quarter. Hedge funds and other institutional investors own 33.70% of the company’s stock.

Caesarstone Trading Down 2.2%

Shares of NASDAQ:CSTE opened at $1.80 on Wednesday. The stock has a 50 day moving average of $1.86 and a 200 day moving average of $2.77. The company has a market cap of $62.19 million, a PE ratio of -1.32 and a beta of 0.22. Caesarstone Ltd. has a 12-month low of $1.62 and a 12-month high of $6.54.

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.