Diversified Investment Strategies Lowers stake in CARBO Ceramics (CRR)

CARBO Ceramics (CRR) : Diversified Investment Strategies reduced its stake in CARBO Ceramics by 0.74% during the most recent quarter end. The investment management company now holds a total of 84,072 shares of CARBO Ceramics which is valued at $1,194,663 after selling 625 shares in CARBO Ceramics , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.CARBO Ceramics makes up approximately 1.16% of Diversified Investment Strategies’s portfolio.

Other Hedge Funds, Including , Blackrock Fund Advisors reduced its stake in CRR by selling 3,414 shares or 0.26% in the most recent quarter. The Hedge Fund company now holds 1,323,241 shares of CRR which is valued at $18,803,255.Tower Research Capital (trc) reduced its stake in CRR by selling 8,068 shares or 88.03% in the most recent quarter. The Hedge Fund company now holds 1,097 shares of CRR which is valued at $15,588. Msi Financial Services Inc added CRR to its portfolio by purchasing 17,250 company shares during the most recent quarter which is valued at $205,620. CARBO Ceramics makes up approx 0.01% of Msi Financial Services Inc’s portfolio.

CARBO Ceramics opened for trading at $14.15 and hit $14.865 on the upside on Tuesday, eventually ending the session at $14.43, with a gain of 1.12% or 0.16 points. The heightened volatility saw the trading volume jump to 6,79,609 shares. Company has a market cap of $339 M.

On the company’s financial health, CARBO Ceramics reported $-0.50 EPS for the quarter, beating the analyst consensus estimate by $ 0.37 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $-0.87. The company had revenue of $20.70 million for the quarter, compared to analysts expectations of $25.08 million. The company’s revenue was down -71.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.41 EPS.

Many Wall Street Analysts have commented on CARBO Ceramics. Shares were Reiterated by Scotia Howard Weil on Jun 7, 2016 to “Sector Perform” and Lowered the Price Target to $ 15 from a previous price target of $18 .

Carbo Ceramics Inc. is an oilfield services technology company which supplies ceramic proppant and sells sand and resin-coated sand. The Company also sells sand independent of its resin-coating operations. It also provides fracture simulation software and fracture design and consulting services and a range of technologies for spill prevention containment and countermeasures. The Company’s products and services are primarily used in the hydraulic fracturing of natural gas and oil wells. There are three primary types of proppant that can be utilized in the hydraulic fracturing process: sand resin-coated sand and ceramic. The Company manufactures six ceramic proppants: KRYPTOSPHERETM HD CARBOHSP CARBOPROP CARBOLITE CARBOECONOPROP and CARBOHYDROPROP. The Company produces resin-coated ceramic (CARBOBOND LITE) and resin-coated sand (CARBOBOND RCS) proppants; CARBO NORTHERN WHITE a frac sand; and CARBONRT proppant. The Company also sells SCALEGUARD a porous ceramic proppant.

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