The Israeli quartz countertop manufacturer company has fallen on hard times due to Chinese rivalry but tariffs could boost its revenue.
Despite the steep falls on Wall Street at the end of last week, a small number of stocks recorded strong gains including Israeli quartz countertop manufacturer Caesarstone (Nasdaq: CSTE). The company’s share price rose 7.6% on Friday, after trading down 3.3% on Thursday. The increases on Friday came precisely against the backdrop of the tariff issue – the US raised tariffs on a number of countries, and on Friday China responded with additional tariffs on imports from the US. Caesarstone could be a potential winner in the new situation, as a company that was previously hit severely by Chinese competition that reduced prices in the market in which it operates.
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Caesarstone is managed by CEO Yosef Shiran. The company 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 gains came after the stock fell to an all-time low the day before, erasing 96.7% of its peak a decade ago. The company’s current market cap is only $88 million, and the value of the holding (40.6%) of the joint controlling shareholders – Tena Fund and Kibbutz Sdot Yam – is worth just $35.9 million. Another shareholder in the company is Phoenix, with a 10.9% stake currently worth $9.6 million.
Published by Globes, Israel business news – en.globes.co.il – on April 6, 2025.
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Caesarstone kitchen credit: Caesarstone
