Schwab Charles Investment Management Inc. boosted its position in shares of CARBO Ceramics Inc. (NYSE:CRR) by 22.9% in the first quarter, HoldingsChannel reports. The firm owned 510,310 shares of the oil and gas company’s stock after acquiring an additional 94,994 shares during the period. Schwab Charles Investment Management Inc.’s holdings in CARBO Ceramics were worth $3,700,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Arizona State Retirement System increased its holdings in CARBO Ceramics by 223.7% during the 4th quarter. Arizona State Retirement System now owns 36,943 shares of the oil and gas company’s stock worth $376,000 after purchasing an additional 25,529 shares in the last quarter. Deutsche Bank AG increased its holdings in CARBO Ceramics by 121.2% during the 4th quarter. Deutsche Bank AG now owns 51,902 shares of the oil and gas company’s stock worth $527,000 after purchasing an additional 28,441 shares in the last quarter. Pinebridge Investments L.P. increased its holdings in CARBO Ceramics by 41.7% during the 4th quarter. Pinebridge Investments L.P. now owns 54,012 shares of the oil and gas company’s stock worth $551,000 after purchasing an additional 15,907 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in CARBO Ceramics during the 4th quarter worth about $594,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in CARBO Ceramics during the 4th quarter worth about $2,069,000. Hedge funds and other institutional investors own 72.35% of the company’s stock.
In other CARBO Ceramics news, CEO Gary A. Kolstad acquired 4,000 shares of CARBO Ceramics stock in a transaction dated Thursday, May 17th. The stock was bought at an average cost of $10.65 per share, for a total transaction of $42,600.00. Following the purchase, the chief executive officer now directly owns 385,651 shares in the company, valued at approximately $4,107,183.15. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Gary A. Kolstad bought 3,000 shares of the business’s stock in a transaction that occurred on Thursday, May 3rd. The stock was purchased at an average price of $8.89 per share, with a total value of $26,670.00. Following the completion of the purchase, the insider now directly owns 378,651 shares in the company, valued at approximately $3,366,207.39. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 20,000 shares of company stock valued at $180,870. Company insiders own 15.10% of the company’s stock.
A number of equities analysts have recently commented on CRR shares. Cowen set a $8.00 price objective on shares of CARBO Ceramics and gave the stock a “hold” rating in a research note on Thursday, March 15th. ValuEngine upgraded shares of CARBO Ceramics from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd. Finally, Piper Jaffray Companies set a $7.00 price objective on shares of CARBO Ceramics and gave the stock a “hold” rating in a research note on Monday, April 2nd. Five analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and a consensus target price of $8.81.
CARBO Ceramics stock opened at $9.17 on Friday. CARBO Ceramics Inc. has a one year low of $6.05 and a one year high of $12.69. The company has a quick ratio of 2.68, a current ratio of 4.54 and a debt-to-equity ratio of 0.23.
CARBO Ceramics (NYSE:CRR) last posted its quarterly earnings data on Thursday, April 26th. The oil and gas company reported ($0.83) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.69) by ($0.14). CARBO Ceramics had a negative return on equity of 20.33% and a negative net margin of 57.60%. The business had revenue of $49.37 million for the quarter, compared to analyst estimates of $57.44 million. During the same quarter in the prior year, the company earned ($1.22) earnings per share. The company’s quarterly revenue was up 42.3% on a year-over-year basis. analysts forecast that CARBO Ceramics Inc. will post -1.84 EPS for the current year.
CARBO Ceramics Company Profile
CARBO Ceramics Inc, a technology company, provides products and services to the oil and gas, and industrial markets worldwide. The company operates in two segments, Oilfield Technologies and Services, and Environmental Products and Services. The Oilfield Technologies and Services segment manufactures and sells ceramic proppants for use in the hydraulic fracturing of natural gas and oil wells to pressure pumping companies; produces ceramic pellets for use in various industrial technology applications, such as casting and milling; and provides technology to design, build, and optimize the Frac.
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