State of Alaska Department of Revenue trimmed its holdings in CSW Industrials, Inc. (NYSE:CSW – Free Report) by 47.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,390 shares of the basic materials company’s stock after selling 3,041 shares during the period. State of Alaska Department of Revenue’s holdings in CSW Industrials were worth $975,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. Valley Wealth Managers Inc. acquired a new stake in shares of CSW Industrials during the first quarter worth about $26,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of CSW Industrials in the 2nd quarter valued at approximately $29,000. Public Employees Retirement System of Ohio acquired a new position in shares of CSW Industrials in the 2nd quarter valued at approximately $29,000. Global Retirement Partners LLC acquired a new position in shares of CSW Industrials in the 2nd quarter valued at approximately $31,000. Finally, Sound Income Strategies LLC increased its stake in CSW Industrials by 628.6% during the 1st quarter. Sound Income Strategies LLC now owns 153 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 132 shares in the last quarter. 82.79% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several analysts have commented on CSW shares. Wall Street Zen downgraded shares of CSW Industrials from a “buy” rating to a “hold” rating in a report on Sunday. Wells Fargo & Company lifted their price target on shares of CSW Industrials from $285.00 to $320.00 and gave the company an “equal weight” rating in a research note on Friday, July 31st. Truist Financial upped their price target on shares of CSW Industrials from $313.00 to $332.00 and gave the company a “hold” rating in a report on Monday, August 3rd. JPMorgan Chase & Co. upped their price target on shares of CSW Industrials from $350.00 to $380.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Finally, Citigroup increased their price objective 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 equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $347.57.
Read Our Latest Stock Report on CSW
CSW Industrials Stock Performance
Shares of CSW Industrials stock opened at $293.17 on Thursday. The firm has a market cap of $4.78 billion, a price-to-earnings ratio of 25.51 and a beta of 0.81. The stock’s 50-day moving average is $303.33 and its 200-day moving average is $291.93. CSW Industrials, Inc. has a one year low of $236.66 and a one year high of $355.48. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.70 and a quick ratio of 1.36.
CSW Industrials (NYSE:CSW – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The basic materials company reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.66 by $0.18. CSW Industrials had a return on equity of 17.41% and a net margin of 10.34%. The company had revenue of $350.65 million during the quarter. The firm’s quarterly revenue was up 33.0% compared to the same quarter last year. Equities analysts predict that CSW Industrials, Inc. will post 12.53 earnings per share for the current fiscal year.
CSW Industrials Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $1.20 dividend on an annualized basis and a yield of 0.4%. CSW Industrials’s dividend payout ratio is 16.46%.
Insider Buying and Selling
In other CSW Industrials news, CEO Joseph B. Armes sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $287.04, for a total transaction of $430,560.00. Following the completion of the transaction, the chief executive officer owned 64,083 shares of the company’s stock, valued at $18,394,384.32. This represents a 2.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jeff Underwood sold 720 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $346.96, for a total transaction of $249,811.20. Following the transaction, the executive vice president directly owned 6,409 shares of the company’s stock, valued at $2,223,666.64. This represents a 10.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 3,720 shares of company stock valued at $1,114,741. Insiders own 1.20% of the company’s stock.
CSW Industrials Profile
CSW Industrials, Inc (NYSE: CSW) is a diversified industrial company that develops, manufactures and sells products designed for professional trades, commercial and residential construction, and industrial maintenance applications. Its offerings are marketed primarily through established brands and distribution channels serving contractors, building professionals and industrial customers.
The company operates through three principal segments: Contractor Solutions, Engineered Building Solutions and Specialized Reliability Solutions.
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