Royal Bank of Canada cut its stake in CSW Industrials, Inc. (NYSE:CSW – Free Report) by 8.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,191 shares of the basic materials company’s stock after selling 3,032 shares during the quarter. Royal Bank of Canada’s holdings in CSW Industrials were worth $8,648,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. purchased a new stake in CSW Industrials during the 4th quarter worth approximately $515,553,000. Capital World Investors purchased a new position in shares of CSW Industrials in the fourth quarter valued at approximately $308,934,000. Wasatch Advisors LP boosted its stake in shares of CSW Industrials by 31.1% in the first quarter. Wasatch Advisors LP now owns 873,659 shares of the basic materials company’s stock worth $227,658,000 after acquiring an additional 207,186 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of CSW Industrials in the fourth quarter worth approximately $237,891,000. Finally, Morgan Stanley purchased a new stake in shares of CSW Industrials during the fourth quarter worth approximately $196,549,000. 82.79% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts recently commented on the company. JPMorgan Chase & Co. increased their price objective on CSW Industrials from $350.00 to $380.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Truist Financial upped their target price on shares of CSW Industrials from $313.00 to $332.00 and gave the stock a “hold” rating in a report on Monday, August 3rd. Zacks Research cut shares of CSW Industrials from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Wells Fargo & Company raised their price target on shares of CSW Industrials from $285.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Friday, July 31st. Finally, Citigroup boosted their price target on shares of CSW Industrials from $304.00 to $340.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $347.57.
CSW Industrials Stock Down 0.3%
Shares of NYSE:CSW opened at $349.77 on Monday. The company has a market capitalization of $5.70 billion, a price-to-earnings ratio of 47.98 and a beta of 0.83. CSW Industrials, Inc. has a 12-month low of $230.45 and a 12-month high of $354.71. The business has a 50-day moving average price of $286.74 and a 200 day moving average price of $283.96. The company has a current ratio of 2.70, a quick ratio of 1.36 and a debt-to-equity ratio of 0.77.
CSW Industrials (NYSE:CSW – Get Free Report) last posted its earnings results on Thursday, July 30th. The basic materials company reported $3.84 EPS for the quarter, beating analysts’ consensus estimates of $3.66 by $0.18. The company had revenue of $350.65 million for the quarter. CSW Industrials had a net margin of 10.34% and a return on equity of 17.41%. The firm’s quarterly revenue was up 33.0% compared to the same quarter last year. Sell-side analysts expect that CSW Industrials, Inc. will post 12.77 EPS for the current year.
CSW Industrials Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, July 31st. CSW Industrials’s dividend payout ratio is currently 16.46%.
Insider Activity at CSW Industrials
In related news, CEO Joseph B. Armes sold 1,500 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $279.52, for a total transaction of $419,280.00. Following the completion of the transaction, the chief executive officer owned 69,100 shares of the company’s stock, valued at approximately $19,314,832. This trade represents a 2.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.20% of the company’s stock.
CSW Industrials Profile
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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