The Israeli quartz countertop producer firm has fallen on arduous instances resulting from Chinese language rivalry however tariffs might increase its income.
Regardless of the steep falls on Wall Road on the finish of final week, a small variety of shares recorded sturdy good points together with Israeli quartz countertop producer Caesarstone (Nasdaq: CSTE). The corporate’s share worth rose 7.6% on Friday, after buying and selling down 3.3% on Thursday. The will increase on Friday got here exactly in opposition to the backdrop of the tariff challenge – the US raised tariffs on a lot of nations, and on Friday China responded with further tariffs on imports from the US. Caesarstone might be a possible winner within the new scenario, as an organization that was beforehand hit severely by Chinese language competitors that lowered costs out there by which it operates.
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Caesarstone is managed by CEO Yosef Shiran. The corporate was first floated on Nasdaq in 2012, at a valuation of $356 million, and reached a peak market cap of over $2.5 billion in 2015. Friday’s good points got here after the inventory fell to an all-time low the day earlier than, erasing 96.7% of its peak a decade in the past. The corporate’s present market cap is just $88 million, and the worth of the holding (40.6%) of the joint controlling shareholders – Tena Fund and Kibbutz Sdot Yam – is price simply $35.9 million. One other shareholder within the firm is Phoenix, with a ten.9% stake at present price $9.6 million.
Revealed by Globes, Israel enterprise information – en.globes.co.il – on April 6, 2025.
© Copyright of Globes Writer Itonut (1983) Ltd., 2025.
Caesarstone kitchen credit score: Caesarstone
