CSW Industrials (NYSE:CSW) Releases Quarterly Earnings Results, Beats Estimates By $0.80 EPS

CSW Industrials (NYSE:CSWGet Free Report) announced its quarterly earnings data on Tuesday. The basic materials company reported $3.14 EPS for the quarter, beating the consensus estimate of $2.34 by $0.80, FiscalAI reports. CSW Industrials had a net margin of 12.64% and a return on equity of 14.55%. The company had revenue of $308.96 million for the quarter. CSW Industrials’s revenue for the quarter was up 34.0% on a year-over-year basis.

CSW Industrials Stock Performance

Shares of NYSE CSW opened at $278.86 on Wednesday. The firm’s 50-day moving average price is $274.17 and its 200-day moving average price is $285.55. The company has a quick ratio of 0.97, a current ratio of 2.36 and a debt-to-equity ratio of 0.72. The company has a market cap of $4.59 billion, a PE ratio of 36.98 and a beta of 0.88. CSW Industrials has a 52-week low of $230.45 and a 52-week high of $337.02.

CSW Industrials Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Friday, April 24th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Friday, April 24th. This is a boost from CSW Industrials’s previous quarterly dividend of $0.27. CSW Industrials’s payout ratio is 15.92%.

Insider Activity at CSW Industrials

In other news, CEO Joseph B. Armes sold 1,500 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $286.77, for a total value of $430,155.00. Following the transaction, the chief executive officer owned 84,494 shares in the company, valued at $24,230,344.38. This represents a 1.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Darron K. Ash acquired 300 shares of the stock in a transaction dated Friday, March 13th. The stock was acquired at an average price of $256.62 per share, for a total transaction of $76,986.00. Following the purchase, the director directly owned 1,155 shares in the company, valued at approximately $296,396.10. This trade represents a 35.09% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders sold 3,680 shares of company stock worth $1,039,568. 1.30% of the stock is owned by insiders.

Institutional Investors Weigh In On CSW Industrials

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Whittier Trust Co. raised its position in shares of CSW Industrials by 24.8% during the first quarter. Whittier Trust Co. now owns 252 shares of the basic materials company’s stock valued at $67,000 after buying an additional 50 shares during the last quarter. Sanctuary Advisors LLC raised its position in shares of CSW Industrials by 8.1% during the fourth quarter. Sanctuary Advisors LLC now owns 984 shares of the basic materials company’s stock valued at $289,000 after buying an additional 74 shares during the last quarter. Arax Advisory Partners bought a new stake in shares of CSW Industrials during the fourth quarter valued at approximately $28,000. Danske Bank A S bought a new stake in shares of CSW Industrials during the fourth quarter valued at approximately $29,000. Finally, Valley Wealth Managers Inc. bought a new stake in shares of CSW Industrials during the first quarter valued at approximately $26,000. Institutional investors own 82.79% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on CSW shares. Wells Fargo & Company cut their price objective on shares of CSW Industrials from $300.00 to $280.00 and set an “equal weight” rating on the stock in a research report on Monday, February 2nd. Zacks Research raised shares of CSW Industrials from a “strong sell” rating to a “hold” rating in a research report on Friday, May 8th. Weiss Ratings reissued a “hold (c)” rating on shares of CSW Industrials in a research report on Wednesday, April 29th. Truist Financial increased their price objective on shares of CSW Industrials from $292.00 to $301.00 and gave the company a “hold” rating in a research report on Monday, April 20th. Finally, Citigroup cut their price objective on shares of CSW Industrials from $333.00 to $307.00 and set a “neutral” rating on the stock in a research report on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $328.43.

Read Our Latest Stock Report on CSW Industrials

About CSW Industrials

(Get Free Report)

CSW Industrials, Inc is a diversified industrial manufacturer that develops and supplies specialty chemical products, performance materials and precision surface solutions. The company’s offerings span a range of end markets including energy, industrial processing, converting and automotive, where its products serve critical functions in production efficiency, equipment maintenance and process enhancement.

In its chemical business, CSW Industrials produces solvent- and water-based formulations such as surfactants, corrosion inhibitors and custom blends used in oilfield exploration and production, metalworking, water treatment and other industrial applications.

Read More

Earnings History for CSW Industrials (NYSE:CSW)

Receive News & Ratings for CSW Industrials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CSW Industrials and related companies with MarketBeat.com's FREE daily email newsletter.