Morgan Stanley Buys 60,610 Shares of CARBO Ceramics Inc. (NYSE:CRR)

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.

CARBO Ceramics (NYSE:CRR) last issued its quarterly earnings results on Friday, November 8th. The oil and gas company reported ($1.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.53). CARBO Ceramics had a negative net margin of 46.99% and a negative return on equity of 22.15%. The business had revenue of $43.50 million for the quarter, compared to the consensus estimate of $45.88 million. During the same quarter in the previous year, the business earned ($0.62) earnings per share. The firm’s revenue was down 19.1% on a year-over-year basis. As a group, analysts anticipate that CARBO Ceramics Inc. will post -2.22 EPS for the current year.

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.

See Also: Understanding Specialty Certificates of Deposit

Want to see what other hedge funds are holding CRR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CARBO Ceramics Inc. (NYSE:CRR).

Institutional Ownership by Quarter for CARBO Ceramics (NYSE:CRR)

Receive News & Ratings for CARBO Ceramics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CARBO Ceramics and related companies with MarketBeat.com's FREE daily email newsletter.