Morgan Stanley increased its stake in CARBO Ceramics Inc. (NYSE:CRR) by 23.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 319,316 shares of the oil and gas company’s stock after purchasing an additional 60,610 shares during the period. Morgan Stanley owned approximately 1.09% of CARBO Ceramics worth $431,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. A.R.T. Advisors LLC bought a new position in shares of CARBO Ceramics in the second quarter worth approximately $37,000. SG Americas Securities LLC bought a new position in shares of CARBO Ceramics in the second quarter worth approximately $66,000. Paloma Partners Management Co bought a new position in shares of CARBO Ceramics in the second quarter worth approximately $86,000. Acadian Asset Management LLC increased its position in shares of CARBO Ceramics by 352.6% in the second quarter. Acadian Asset Management LLC now owns 74,925 shares of the oil and gas company’s stock worth $101,000 after purchasing an additional 58,371 shares during the last quarter. Finally, Fayez Sarofim & Co bought a new position in shares of CARBO Ceramics in the second quarter worth approximately $401,000. Institutional investors own 57.10% of the company’s stock.
NYSE CRR traded down $0.05 on Tuesday, reaching $0.77. 130,735 shares of the company’s stock traded hands, compared to its average volume of 190,174. CARBO Ceramics Inc. has a 12 month low of $0.82 and a 12 month high of $5.32. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.21 and a quick ratio of 1.78. The stock has a 50-day simple moving average of $1.98 and a 200 day simple moving average of $1.72. The stock has a market cap of $45.83 million, a PE ratio of -0.29 and a beta of 1.63.
Several research analysts recently weighed in on the stock. ValuEngine upgraded shares of CARBO Ceramics from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Piper Jaffray Companies set a $1.00 price target on shares of CARBO Ceramics and gave the company a “hold” rating in a research report on Friday, July 26th. Finally, Zacks Investment Research upgraded shares of CARBO Ceramics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th.
About CARBO Ceramics
CARBO Ceramics Inc, a technology company, provides products and services to the oil and gas, industrial, and environmental markets worldwide. It operates through two segments, Oilfield and Industrial Technologies and Services, and Environmental Technologies and Services. The Oilfield and Industrial Technologies and Services segment manufactures and sells oilfield ceramic technology products, base ceramic proppants, and frac sand proppants to pressure pumping companies, and oil and gas operators for use in the hydraulic fracturing of natural gas and oil wells.
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