CARBO Ceramics Inc. (CRR) Insider Gary A. Kolstad Acquires 10,000 Shares

CARBO Ceramics Inc. (NYSE:CRR) insider Gary A. Kolstad purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 4th. The shares were purchased at an average price of $4.77 per share, for a total transaction of $47,700.00. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.

Shares of NYSE CRR opened at $4.40 on Friday. CARBO Ceramics Inc. has a 52-week low of $4.20 and a 52-week high of $12.69. The stock has a market capitalization of $123.93 million, a PE ratio of -1.17 and a beta of 1.56. The company has a current ratio of 3.07, a quick ratio of 1.87 and a debt-to-equity ratio of 0.17.

CARBO Ceramics (NYSE:CRR) last announced its earnings results on Thursday, October 25th. The oil and gas company reported ($0.62) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.38) by ($0.24). CARBO Ceramics had a negative net margin of 32.14% and a negative return on equity of 18.72%. The company had revenue of $53.82 million during the quarter, compared to analyst estimates of $66.76 million. Research analysts predict that CARBO Ceramics Inc. will post -2.45 earnings per share for the current fiscal year.

Several analysts recently commented on CRR shares. Zacks Investment Research lowered shares of CARBO Ceramics from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th. ValuEngine upgraded shares of CARBO Ceramics from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. Finally, Piper Jaffray Companies set a $9.00 price target on shares of CARBO Ceramics and gave the company a “hold” rating in a research report on Tuesday, October 2nd. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The company presently has a consensus rating of “Sell” and a consensus target price of $8.00.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Eqis Capital Management Inc. bought a new stake in shares of CARBO Ceramics in the second quarter worth about $448,000. Heartland Advisors Inc. bought a new stake in shares of CARBO Ceramics in the second quarter worth about $3,554,000. Schwab Charles Investment Management Inc. grew its stake in shares of CARBO Ceramics by 1.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 517,254 shares of the oil and gas company’s stock worth $4,744,000 after purchasing an additional 6,944 shares during the last quarter. Spark Investment Management LLC bought a new stake in shares of CARBO Ceramics in the second quarter worth about $304,000. Finally, BlackRock Inc. grew its stake in shares of CARBO Ceramics by 4.6% in the second quarter. BlackRock Inc. now owns 2,961,569 shares of the oil and gas company’s stock worth $27,159,000 after purchasing an additional 129,138 shares during the last quarter. Institutional investors and hedge funds own 81.41% of the company’s stock.

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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.

Further Reading: Earnings Per Share

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