Louisiana State Employees Retirement System purchased a new stake in shares of CSW Industrials, Inc. (NYSE:CSW – Free Report) in the first quarter, HoldingsChannel.com reports. The institutional investor purchased 7,300 shares of the basic materials company’s stock, valued at approximately $1,902,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CSW. Arax Advisory Partners purchased a new stake in shares of CSW Industrials during the 4th quarter worth approximately $28,000. Danske Bank A S bought a new position in shares of CSW Industrials during the 4th quarter valued at approximately $29,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of CSW Industrials in the fourth quarter valued at $31,000. Global Retirement Partners LLC bought a new stake in CSW Industrials in the fourth quarter worth $31,000. Finally, CWM LLC bought a new stake in CSW Industrials in the fourth quarter worth $32,000. 82.79% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, SVP Luke Alverson sold 1,007 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $289.57, for a total value of $291,596.99. Following the sale, the senior vice president directly owned 12,450 shares of the company’s stock, valued at $3,605,146.50. This represents a 7.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Joseph B. Armes sold 1,500 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $279.52, for a total transaction of $419,280.00. Following the completion of the sale, the chief executive officer directly owned 69,100 shares of the company’s stock, valued at approximately $19,314,832. The trade was a 2.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,680 shares of company stock valued at $1,884,758 in the last ninety days. 1.30% of the stock is owned by company insiders.
CSW Industrials Stock Up 3.1%
CSW Industrials (NYSE:CSW – Get Free Report) last announced its earnings results on Tuesday, May 26th. The basic materials company reported $3.14 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.80. The business had revenue of $308.96 million for the quarter. CSW Industrials had a net margin of 10.35% and a return on equity of 15.91%. CSW Industrials’s quarterly revenue was up 34.0% compared to the same quarter last year. On average, analysts predict that CSW Industrials, Inc. will post 12.52 earnings per share for the current year.
CSW Industrials Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Friday, April 24th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.4%. The ex-dividend date was Friday, April 24th. This is a positive change from CSW Industrials’s previous quarterly dividend of $0.27. CSW Industrials’s payout ratio is currently 17.96%.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on CSW. Citigroup decreased their price target on shares of CSW Industrials from $307.00 to $304.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 27th. Weiss Ratings upgraded shares of CSW Industrials from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Wells Fargo & Company boosted their target price on shares of CSW Industrials from $280.00 to $285.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 27th. Truist Financial decreased their target price on shares of CSW Industrials from $301.00 to $300.00 and set a “hold” rating on the stock in a research report on Wednesday, May 27th. Finally, Zacks Research raised shares of CSW Industrials from a “hold” rating to a “strong-buy” rating in a report on Monday, June 8th. Three investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $328.57.
Get Our Latest Report on CSW Industrials
About CSW Industrials
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.
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