CSW Industrials, Inc. (NYSE:CSW – Get Free Report) shares were down 6.9% during mid-day trading on Friday . The company traded as low as $281.15 and last traded at $279.8410. Approximately 154,419 shares were traded during mid-day trading, an increase of 5% from the average session volume of 147,323 shares. The stock had previously closed at $300.67.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on CSW. Wells Fargo & Company boosted their price target on CSW Industrials from $280.00 to $285.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 27th. Zacks Research upgraded CSW Industrials from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 8th. Truist Financial lifted their price objective on CSW Industrials from $300.00 to $313.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. Weiss Ratings downgraded shares of CSW Industrials from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. Finally, Citigroup lowered their target price on shares of CSW Industrials from $307.00 to $304.00 and set a “neutral” rating on the stock in a report on Wednesday, May 27th. Three analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, CSW Industrials presently has a consensus rating of “Moderate Buy” and a consensus price target of $330.43.
Get Our Latest Stock Report on CSW
CSW Industrials Stock Down 6.4%
CSW Industrials (NYSE:CSW – Get Free Report) last released its quarterly earnings results on Tuesday, May 26th. The basic materials company reported $3.14 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $0.80. CSW Industrials had a return on equity of 15.91% and a net margin of 10.35%.The business had revenue of $308.96 million for the quarter. The business’s revenue was up 34.0% on a year-over-year basis. On average, analysts anticipate that CSW Industrials, Inc. will post 12.52 earnings per share for the current fiscal year.
Insider Buying and Selling at CSW Industrials
In other news, SVP Luke Alverson sold 1,007 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $289.57, for a total transaction of $291,596.99. Following the sale, the senior vice president owned 12,450 shares in the company, valued at approximately $3,605,146.50. This represents a 7.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 on Monday, June 15th. The shares were sold at an average price of $279.52, for a total value of $419,280.00. Following the completion of the sale, 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 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 4,007 shares of company stock worth $1,136,787 in the last 90 days. Company insiders own 1.30% of the company’s stock.
Hedge Funds Weigh In On CSW Industrials
A number of institutional investors have recently modified their holdings of the stock. Nicholas Company Inc. acquired a new position in CSW Industrials during the 4th quarter worth $3,290,000. Mawer Investment Management Ltd. acquired a new stake in shares of CSW Industrials in the 4th quarter valued at $4,454,000. B. Metzler seel. Sohn & Co. AG acquired a new stake in shares of CSW Industrials in the 4th quarter valued at $3,635,000. Norges Bank bought a new stake in shares of CSW Industrials during the fourth quarter worth $86,425,000. Finally, Moody Aldrich Partners LLC bought a new stake in shares of CSW Industrials during the fourth quarter worth $5,149,000. 82.79% of the stock is owned by institutional investors.
CSW Industrials Company 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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