CSW Industrials, Inc. (NASDAQ:CSWI) Sees Large Drop in Short Interest

CSW Industrials, Inc. (NASDAQ:CSWI - Get Free Report) was the target of a large drop in short interest in the month of May. As of May 15th, there was short interest totalling 515,000 shares, a drop of 13.6% from the April 30th total of 596,000 shares. Based on an average daily trading volume, of 122,800 shares, the days-to-cover ratio is currently 4.2 days. Currently, 3.1% of the company's shares are short sold.

Insiders Place Their Bets

In other CSW Industrials news, CEO Joseph B. Armes sold 1,000 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $289.97, for a total value of $289,970.00. Following the completion of the sale, the chief executive officer now owns 46,848 shares in the company, valued at approximately $13,584,514.56. This trade represents a 2.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Don Sullivan sold 2,222 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $292.12, for a total value of $649,090.64. Following the completion of the transaction, the executive vice president now owns 24,853 shares of the company's stock, valued at approximately $7,260,058.36. The trade was a 8.21% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,195 shares of company stock worth $3,682,939. 1.40% of the stock is currently owned by company insiders.

Institutional Trading of CSW Industrials

A number of institutional investors and hedge funds have recently modified their holdings of the business. Strs Ohio bought a new stake in shares of CSW Industrials in the 1st quarter worth $1,312,000. Intech Investment Management LLC increased its holdings in shares of CSW Industrials by 22.9% in the 1st quarter. Intech Investment Management LLC now owns 9,537 shares of the basic materials company's stock worth $2,780,000 after purchasing an additional 1,774 shares in the last quarter. United Services Automobile Association bought a new stake in shares of CSW Industrials in the 1st quarter worth $305,000. Fred Alger Management LLC increased its holdings in shares of CSW Industrials by 5.3% in the 1st quarter. Fred Alger Management LLC now owns 59,857 shares of the basic materials company's stock worth $17,450,000 after purchasing an additional 3,006 shares in the last quarter. Finally, Select Equity Group L.P. increased its holdings in shares of CSW Industrials by 620.6% in the 1st quarter. Select Equity Group L.P. now owns 38,180 shares of the basic materials company's stock worth $11,130,000 after purchasing an additional 32,882 shares in the last quarter. Institutional investors own 82.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Citigroup raised their target price on CSW Industrials from $313.00 to $321.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. Truist Financial assumed coverage on CSW Industrials in a research note on Friday, February 14th. They issued a "hold" rating and a $362.00 target price for the company. Finally, Wells Fargo & Company raised their target price on CSW Industrials from $295.00 to $305.00 and gave the company an "equal weight" rating in a research note on Friday, May 23rd. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $347.00.

CSW Industrials Price Performance

CSWI stock traded up $0.43 on Friday, reaching $305.10. 71,526 shares of the company traded hands, compared to its average volume of 136,311. CSW Industrials has a one year low of $249.84 and a one year high of $436.50. The company has a market cap of $5.13 billion, a P/E ratio of 36.45 and a beta of 0.92. The firm has a fifty day simple moving average of $304.09 and a 200-day simple moving average of $331.08.

CSW Industrials (NASDAQ:CSWI - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The basic materials company reported $2.24 earnings per share for the quarter, beating analysts' consensus estimates of $2.23 by $0.01. CSW Industrials had a return on equity of 15.72% and a net margin of 15.53%. The company had revenue of $230.55 million during the quarter, compared to analyst estimates of $232.82 million. During the same quarter last year, the company earned $2.04 EPS. On average, sell-side analysts forecast that CSW Industrials will post 8.49 EPS for the current year.

CSW Industrials Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, April 25th were issued a $0.27 dividend. This is a positive change from CSW Industrials's previous quarterly dividend of $0.24. The ex-dividend date was Friday, April 25th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.35%. CSW Industrials's dividend payout ratio (DPR) is presently 12.84%.

About CSW Industrials

CSW Industrials, Inc operates as a diversified industrial company in the United States and internationally. It operates through three segments: Contractor Solutions, Engineered Building Solutions, and Specialized Reliability Solutions. The Contractor Solutions segment provides condensate pads, pans, pumps, switches, and traps; cements, diffusers, grilles, registers, solvents, thread sealants, and vents; line set covers; refrigerant caps; wire pulling head tools; electrical protection, chemical maintenance, and installation supplies for HVAC; ductless mini-split systems installation support tools and accessories; and drain waste and vent system products for use in HVAC/R, plumbing, general industrial, architecturally specified building products.