JPMorgan Chase & Co. Cuts CSW Industrials (NYSE:CSW) Price Target to $290.00

CSW Industrials (NYSE:CSW) had its price target lowered by JPMorgan Chase & Co. from $320.00 to $290.00 in a report published on Friday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the basic materials company’s stock.

CSW has been the subject of several other reports. Wells Fargo & Company cut their target price on shares of CSW Industrials from $305.00 to $285.00 and set an “equal weight” rating for the company in a report on Friday, August 1st. Zacks Research raised shares of CSW Industrials from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 2nd. Finally, Truist Financial set a $273.00 target price on shares of CSW Industrials and gave the stock a “hold” rating in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, CSW Industrials has an average rating of “Hold” and a consensus price target of $313.80.

CSW Industrials Stock Down 2.9%

Shares of CSW opened at $250.10 on Friday. CSW Industrials has a 52 week low of $238.49 and a 52 week high of $436.50. The company has a quick ratio of 1.48, a current ratio of 2.86 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of 29.88 and a beta of 0.92. The stock’s 50-day moving average price is $259.63 and its 200-day moving average price is $287.31.

CSW Industrials (NYSE:CSW) last announced its quarterly earnings results on Thursday, July 31st. The basic materials company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.23. CSW Industrials had a return on equity of 13.78% and a net margin of 15.18%.The company had revenue of $263.65 million during the quarter, compared to analysts’ expectations of $278.27 million. On average, sell-side analysts predict that CSW Industrials will post 8.49 EPS for the current year.

CSW Industrials Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Friday, July 25th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.4%. CSW Industrials’s dividend payout ratio (DPR) is presently 12.90%.

Insider Transactions at CSW Industrials

In other news, CEO Joseph B. Armes sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $250.00, for a total value of $250,000.00. Following the transaction, the chief executive officer owned 61,522 shares in the company, valued at $15,380,500. This trade represents a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Don Sullivan sold 1,067 shares of CSW Industrials stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $283.14, for a total value of $302,110.38. Following the completion of the sale, the executive vice president directly owned 22,641 shares in the company, valued at $6,410,572.74. This represents a 4.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,412 shares of company stock valued at $1,497,397. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CSW Industrials

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc grew its holdings in shares of CSW Industrials by 526.3% during the first quarter. Versant Capital Management Inc now owns 119 shares of the basic materials company’s stock worth $35,000 after buying an additional 100 shares in the last quarter. Portside Wealth Group LLC grew its stake in CSW Industrials by 15.9% during the 1st quarter. Portside Wealth Group LLC now owns 1,213 shares of the basic materials company’s stock valued at $354,000 after acquiring an additional 166 shares in the last quarter. Vest Financial LLC acquired a new stake in CSW Industrials in the 1st quarter valued at about $791,000. Park Avenue Securities LLC lifted its stake in CSW Industrials by 6.7% in the 1st quarter. Park Avenue Securities LLC now owns 2,631 shares of the basic materials company’s stock worth $767,000 after purchasing an additional 165 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in CSW Industrials by 0.8% in the 1st quarter. Harbor Capital Advisors Inc. now owns 29,858 shares of the basic materials company’s stock worth $8,704,000 after purchasing an additional 241 shares in the last quarter. Institutional investors and hedge funds own 82.79% of the company’s stock.

About CSW Industrials

CSW Industrials, Inc operates as a diversified industrial company in the United States and internationally. It operates through three segments: Contractor Solutions, Engineered Building Solutions, and Specialized Reliability Solutions. The Contractor Solutions segment provides condensate pads, pans, pumps, switches, and traps; cements, diffusers, grilles, registers, solvents, thread sealants, and vents; line set covers; refrigerant caps; wire pulling head tools; electrical protection, chemical maintenance, and installation supplies for HVAC; ductless mini-split systems installation support tools and accessories; and drain waste and vent system products for use in HVAC/R, plumbing, general industrial, architecturally specified building products.