CSW Industrials (NYSE:CSW) Stock Gets Price Target Reduction from Truist Financial

CSW Industrials (NYSE:CSW – Free Report) had its target price cut by Truist Financial from $332.00 to $328.00 in a report published on Monday,Benzinga reports. They currently have a hold rating on the basic materials company’s stock.

CSW has been the subject of several other research reports. Zacks Research cut CSW Industrials from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Citigroup lifted their price objective on CSW Industrials from $304.00 to $340.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. boosted their price objective on CSW Industrials from $350.00 to $380.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Wells Fargo & Company dropped their target price on CSW Industrials from $320.00 to $290.00 and set an “equal weight” rating for the company in a report on Friday, October 30th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of CSW Industrials in a research note on Friday, October 30th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $340.71.

Read Our Latest Research Report on CSW

CSW Industrials Stock Up 6.0%

Shares of NYSE CSW opened at $296.35 on Monday. CSW Industrials has a 12-month low of $237.50 and a 12-month high of $355.48. The stock has a market cap of $4.83 billion, a PE ratio of 23.18, a P/E/G ratio of 1.79 and a beta of 0.80. The company has a current ratio of 2.35, a quick ratio of 1.15 and a debt-to-equity ratio of 0.66. The company has a 50-day moving average of $295.71 and a 200 day moving average of $290.37.

CSW Industrials (NYSE:CSW – Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The basic materials company reported $3.66 EPS for the quarter, missing analysts’ consensus estimates of $3.69 by ($0.03). CSW Industrials had a net margin of 10.17% and a return on equity of 18.38%. The business had revenue of $361.44 million during the quarter. During the same period last year, the firm posted $2.96 EPS. The company’s revenue was up 30.5% compared to the same quarter last year. As a group, sell-side analysts predict that CSW Industrials will post 12.50 EPS for the current fiscal year.

CSW Industrials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be issued a $0.30 dividend. The ex-dividend date 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 currently 15.42%.

Insider Activity at CSW Industrials

In other CSW Industrials news, EVP Jeff Underwood sold 720 shares of CSW Industrials stock in a transaction on Monday, August 10th. The stock was sold at an average price of $346.96, for a total value of $249,811.20. Following the sale, the executive vice president owned 6,409 shares in the company, valued at $2,223,666.64. The trade was a 10.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joseph Armes sold 1,500 shares of the company’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $287.04, for a total value of $430,560.00. Following the completion of the transaction, the chief executive officer directly owned 64,083 shares in the company, valued at approximately $18,394,384.32. This trade represents a 2.29% decrease in their position. 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 sold 3,720 shares of company stock valued at $1,114,741 over the last quarter. 1.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CSW Industrials

Hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of CSW Industrials in the 2nd quarter valued at $686,462,000. First Trust Advisors LP lifted its stake in CSW Industrials by 14.5% during the 1st quarter. First Trust Advisors LP now owns 437,462 shares of the basic materials company’s stock worth $113,994,000 after acquiring an additional 55,288 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in CSW Industrials by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 306,350 shares of the basic materials company’s stock valued at $79,830,000 after acquiring an additional 2,459 shares during the period. Congress Asset Management Co. boosted its holdings in CSW Industrials by 0.4% during the 3rd quarter. Congress Asset Management Co. now owns 301,580 shares of the basic materials company’s stock valued at $86,879,000 after acquiring an additional 1,074 shares during the period. Finally, Jupiter Topco LLC acquired a new position in CSW Industrials in the 2nd quarter valued at about $36,656,000. 82.79% of the stock is currently owned by hedge funds and other institutional investors.

About CSW Industrials

(Get Free Report)

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.

Further Reading

Analyst Recommendations for CSW Industrials (NYSE:CSW)

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