Sterling Capital Management LLC decreased its position in shares of CSW Industrials, Inc. (NYSE:CSW – Free Report) by 44.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 3,226 shares of the basic materials company’s stock after selling 2,604 shares during the period. Sterling Capital Management LLC’s holdings in CSW Industrials were worth $841,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Nicholas Company Inc. acquired a new stake in shares of CSW Industrials during the fourth quarter worth about $3,290,000. B. Metzler seel. Sohn & Co. AG acquired a new position in shares of CSW Industrials in the fourth quarter valued at approximately $3,635,000. Mawer Investment Management Ltd. purchased a new stake in CSW Industrials during the 4th quarter worth approximately $4,454,000. 1900 Wealth Management LLC purchased a new stake in CSW Industrials during the 4th quarter worth approximately $5,363,000. Finally, Norges Bank acquired a new stake in CSW Industrials during the 4th quarter worth approximately $86,425,000. 82.79% of the stock is currently owned by hedge funds and other institutional investors.
CSW Industrials Trading Up 3.1%
NYSE CSW opened at $278.53 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 2.60 and a debt-to-equity ratio of 0.80. CSW Industrials, Inc. has a 52 week low of $230.45 and a 52 week high of $337.02. The stock has a market capitalization of $4.55 billion, a PE ratio of 41.70 and a beta of 0.84. The firm has a 50 day moving average of $276.60 and a two-hundred day moving average of $287.05.
CSW Industrials Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Friday, April 24th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.4%. This is a boost from CSW Industrials’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, April 24th. CSW Industrials’s dividend payout ratio is currently 17.96%.
Wall Street Analyst Weigh In
Several brokerages have commented on CSW. Truist Financial decreased their price target on shares of CSW Industrials from $301.00 to $300.00 and set a “hold” rating for the company in a research report on Wednesday, May 27th. Weiss Ratings upgraded CSW Industrials from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Wells Fargo & Company lifted their target price on CSW Industrials from $280.00 to $285.00 and gave the company an “equal weight” rating in a report on Wednesday, May 27th. Citigroup lowered their target price on CSW Industrials from $307.00 to $304.00 and set a “neutral” rating for the company in a research note on Wednesday, May 27th. Finally, Zacks Research upgraded CSW Industrials from a “hold” rating to a “strong-buy” rating in a report on Monday, June 8th. Three research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $328.57.
Get Our Latest Report on CSW Industrials
Insider Activity at CSW Industrials
In other CSW Industrials news, EVP Don Sullivan sold 166 shares of the firm’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $300.26, for a total value of $49,843.16. Following the sale, the executive vice president directly owned 21,567 shares in the company, valued at $6,475,707.42. This trade represents a 0.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Luke Alverson sold 1,007 shares of CSW Industrials stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $266.11, for a total value of $267,972.77. Following the sale, the senior vice president directly owned 13,457 shares of the company’s stock, valued at $3,581,042.27. This trade represents a 6.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 over the last quarter. 1.30% of the stock is owned by insiders.
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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