Calgon Carbon (CCC) Downgraded by Zacks Investment Research

Calgon Carbon (NYSE:CCC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Friday.

According to Zacks, “Calgon Carbon's industrial end-markets remain sluggish. The company is seeing weak demand for activated carbon in specific markets. It is also exposed to weakness in its equipment business. The company’s stretched valuation is another concern.”

Calgon Carbon (NYSE:CCC) remained flat at $$21.30 on Friday. 1,924,191 shares of the company were exchanged, compared to its average volume of 1,581,721. The stock has a market cap of $1,084.81 and a price-to-earnings ratio of 177.51. The company has a current ratio of 2.80, a quick ratio of 1.68 and a debt-to-equity ratio of 0.59. Calgon Carbon has a twelve month low of $12.00 and a twelve month high of $22.10.

Calgon Carbon (NYSE:CCC) last released its earnings results on Monday, November 6th. The industrial products company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.02). The business had revenue of $162.56 million during the quarter, compared to analyst estimates of $156.62 million. Calgon Carbon had a net margin of 0.97% and a return on equity of 5.65%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CCC. Schwab Charles Investment Management Inc. grew its holdings in Calgon Carbon by 15.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 371,567 shares of the industrial products company’s stock valued at $5,611,000 after buying an additional 48,878 shares during the last quarter. Teachers Advisors LLC grew its holdings in Calgon Carbon by 6.7% in the 2nd quarter. Teachers Advisors LLC now owns 89,881 shares of the industrial products company’s stock valued at $1,357,000 after buying an additional 5,612 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Calgon Carbon by 0.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 266,411 shares of the industrial products company’s stock valued at $4,023,000 after buying an additional 1,943 shares during the last quarter. Nationwide Fund Advisors grew its holdings in shares of Calgon Carbon by 154.9% during the 2nd quarter. Nationwide Fund Advisors now owns 91,352 shares of the industrial products company’s stock worth $1,379,000 after purchasing an additional 55,516 shares in the last quarter. Finally, Thrivent Financial For Lutherans grew its holdings in shares of Calgon Carbon by 6.9% during the 2nd quarter. Thrivent Financial For Lutherans now owns 31,090 shares of the industrial products company’s stock worth $469,000 after purchasing an additional 2,020 shares in the last quarter. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

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Calgon Carbon Company Profile

Calgon Carbon Corporation is a manufacturer of activated carbon, with capabilities in ultraviolet (UV) light disinfection. The Company provides purification solutions for drinking water, wastewater, pollution abatement, and a range of industrial and commercial manufacturing processes. The Company operates through four segments: Activated Carbon and Service, Equipment, Consumer and Other.

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