Calgon Carbon Corp. (CCC) Director Sells $509,529.72 in Stock
Calgon Carbon Corp. (NYSE:CCC) Director William R. Newlin sold 34,014 shares of the stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $14.98, for a total value of $509,529.72. Following the completion of the sale, the director now owns 206,483 shares in the company, valued at approximately $3,093,115.34. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Calgon Carbon Corp. (NYSE:CCC) opened at 16.40 on Tuesday. Calgon Carbon Corp. has a 52-week low of $12.70 and a 52-week high of $17.53. The company has a market cap of $830.40 million, a PE ratio of 30.43 and a beta of 1.09. The firm’s 50-day moving average price is $15.60 and its 200 day moving average price is $14.74.
Calgon Carbon Corp. (NYSE:CCC) last announced its earnings results on Thursday, November 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.01. The company had revenue of $124 million for the quarter, compared to analysts’ expectations of $127.46 million. Calgon Carbon Corp. had a net margin of 5.41% and a return on equity of 6.93%. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.23 EPS. On average, equities analysts predict that Calgon Carbon Corp. will post $0.52 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Monday, December 5th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, December 1st. This represents a $0.20 annualized dividend and a dividend yield of 1.22%. Calgon Carbon Corp.’s payout ratio is 37.04%.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Calgon Carbon Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, September 15th. Avondale Partners upgraded Calgon Carbon Corp. from a “market perform” rating to an “outperform” rating and set a $16.00 price target on the stock in a research note on Monday, August 8th. Finally, Robert W. Baird upgraded Calgon Carbon Corp. from a “neutral” rating to an “outperform” rating and increased their price target for the company from $16.00 to $19.00 in a research note on Tuesday, October 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $16.43.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Riverhead Capital Management LLC boosted its position in shares of Calgon Carbon Corp. by 53.7% in the second quarter. Riverhead Capital Management LLC now owns 11,616 shares of the company’s stock valued at $119,000 after buying an additional 4,056 shares during the last quarter. Tower Research Capital LLC TRC bought a new position in shares of Calgon Carbon Corp. during the second quarter valued at about $126,000. Mason Street Advisors LLC bought a new position in shares of Calgon Carbon Corp. during the second quarter valued at about $130,000. Paloma Partners Management Co bought a new position in shares of Calgon Carbon Corp. during the second quarter valued at about $136,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Calgon Carbon Corp. during the second quarter valued at about $166,000. 85.69% of the stock is currently owned by institutional investors.
Calgon Carbon Corp. Company Profile
Calgon Carbon Corporation is engaged in the manufacture, supply, reactivation and application of activated carbons and the manufacture of ballast water treatment, ultraviolet light disinfection and ion-exchange (IX) technologies. The Company’s technologies are used for the treatment of drinking water, wastewater, ballast water, air emissions, and various industrial and commercial manufacturing processes.
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