Calgon Carbon Corporation's (CCC) "Buy" Rating Reaffirmed at Sidoti

Evrard Martin
Août 13, 2017

There has been some selling insider activity on Calgon Carbon Corporation (NYSE:CCC) recently. They set a buy rating and a $18.00 price target for the company. Finally, Janney Montgomery Scott cut Calgon Carbon Corporation from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $18.00 to $16.00 in a research report on Thursday, July 13th. The value of the company's investment in Calgon Carbon Corporation went from $1,090,000 to $778,000 a change of $312,000 for the reporting period. Sidoti restated a "buy" rating and issued a $20.00 price objective (up from $18.00) on shares of Calgon Carbon Corporation in a research report on Wednesday, July 12th. Wall Street is only getting more bullish on the stock, with 2 of analysts who cover CCC having a buy-equivalent rating. The company has a consensus rating of Hold and an average price target of $18.20.

Shares of Calgon Carbon Corporation (NYSE CCC) opened at 13.95 on Friday. The company had a trading volume of 579,116 shares.

The stock last traded at $14.00 which is well below $15.50, the stock's 50 day moving average and significantly lower than the 200 day moving average of $14.80.

Calgon Carbon Corporation's P/E ratio is 97.12 and the market cap is 685.72M. Calgon Carbon Corporation (NYSE:CCC) has declined 0.14% since August 11, 2016 and is downtrending. Next quarter's EPS is expected be $0.19 and the next full year EPS is anticipated to be $0.77.

Calgon Carbon Corporation, launched on November 27, 1967, is a manufacturer of activated carbon, with capabilities in ultraviolet (UV) light disinfection. The firm had revenue of $153 million for the quarter, compared to analyst estimates of $151.18 million. The industrial products company reported $0.14 earnings per share for the quarter, hitting analysts' consensus estimates of $0.14. Calgon Carbon Corporation's quarterly revenue was up 15.4% compared to the same quarter previous year. On average, equities research analysts expect that Calgon Carbon Corporation will post $0.52 EPS for the current year. Calgon Carbon Corporation shares had a trading volume of 856K on Friday. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of United States and worldwide copyright & trademark law. The legal version of this piece of content can be accessed at https://stocknewstimes.com/2017/08/12/calgon-carbon-corporation-nyseccc-stake-maintained-by-teachers-retirement-system-of-the-state-of-kentucky.html.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, September 5th will be paid a $0.05 dividend. The ex-dividend date is Thursday, August 31st. The dividend was $0.050 per share for the quarter which comes to $0.20 on an annualized basis. Calgon Carbon Corporation's dividend payout ratio (DPR) is now 133.33%.

In other Calgon Carbon Corporation news, Director J Rich Alexander sold 5,251 shares of Calgon Carbon Corporation stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $14.25, for a total transaction of $74,826.75. Following the completion of the transaction, the director now directly owns 24,183 shares of the company's stock, valued at $344,607.75. BNP Paribas Arbitrage SA raised its stake in Calgon Carbon Corporation by 0.4% in the first quarter. The Cambiar Investors Llc holds 1.33M shares with $22.60M value, down from 1.46 million last quarter. Vanguard Group Inc. increased its stake in Calgon Carbon Corporation by 2.3% in the second quarter. Louisiana State Employees Retirement System now owns 20,700 shares of the industrial products company's stock valued at $313,000 after buying an additional 100 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in Calgon Carbon Corporation during the first quarter valued at $170,000. Renaissance Technologies LLC now owns 548,200 shares of the industrial products company's stock worth $9,319,000 after buying an additional 78,300 shares in the last quarter.

Shapiro Capital Management LLC reports that it lowered its ownership in Calgon Carbon Corporation shares by 1.9% in its quarterly SEC filing. Vanguard Group Inc. now owns 4,729,298 shares of the industrial products company's stock worth $71,412,000 after buying an additional 107,866 shares during the last quarter. Norges Bank bought a new position in shares of Calgon Carbon Corporation during the fourth quarter valued at about $8,245,000. Municipal Employees Retirement System of MI now owns 11,960 shares of the industrial products company's stock worth $181,000 after buying an additional 510 shares during the period. The Activated Carbon and Service segment manufactures granular activated carbon for use in applications to remove organic compounds from liquids, gases, water, and air. The Company provides purification solutions for drinking water, wastewater, pollution abatement, and a range of industrial and commercial manufacturing processes. The Firm operates through four divisions: Activated Carbon and Service, Equipment, Consumer and Other.

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