6,765 Shares in CSW Industrials, Inc. $CSW Acquired by Sit Investment Associates Inc.

Key Points

• Sit Investment Associates Inc. opened a new position in CSW Industrials, buying 6,765 shares valued at about $1.99 million in the fourth quarter.
• CSW Industrials reported strong quarterly results, with EPS of $3.14 topping estimates by $0.80 and revenue rising 34% year over year to $308.96 million.
• The company also raised its dividend to $0.30 per share quarterly, while analysts currently maintain a consensus rating of Moderate Buy with an average price target of $328.57.

Sit Investment Associates Inc. acquired a new stake in CSW Industrials, Inc. (NYSE:CSW - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 6,765 shares of the basic materials company's stock, valued at approximately $1,986,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CSW. Vanguard Group Inc. acquired a new position in shares of CSW Industrials during the fourth quarter worth approximately $515,553,000. Capital World Investors bought a new position in shares of CSW Industrials during the 4th quarter worth approximately $308,934,000. Northwestern Mutual Wealth Management Co. bought a new position in CSW Industrials in the 4th quarter valued at $237,891,000. Morgan Stanley purchased a new position in shares of CSW Industrials in the 4th quarter worth about $196,549,000. Finally, Wasatch Advisors LP bought a new stake in shares of CSW Industrials in the 4th quarter worth approximately $195,630,000. 82.79% of the stock is owned by institutional investors.

Insider Buying and Selling at CSW Industrials

In other news, SVP Luke Alverson sold 1,007 shares of the firm's stock in a transaction on Friday, May 1st. The shares were sold at an average price of $289.57, for a total transaction of $291,596.99. Following the sale, the senior vice president directly owned 12,450 shares in the company, valued at $3,605,146.50. This trade represents a 7.48% decrease in their position. The sale was disclosed in a document filed 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, CEO Joseph B. Armes sold 1,500 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer owned 69,100 shares in the company, valued at $19,314,832. The trade was a 2.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 6,680 shares of company stock valued at $1,884,758. Insiders own 1.30% of the company's stock.

Analyst Upgrades and Downgrades

CSW has been the subject of a number of research reports. Wells Fargo & Company increased their target price on shares of CSW Industrials from $280.00 to $285.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 27th. Zacks Research upgraded CSW Industrials from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 8th. Weiss Ratings upgraded CSW Industrials from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, May 26th. Citigroup decreased their price target on shares of CSW Industrials from $307.00 to $304.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 27th. Finally, Truist Financial lowered their price target on shares of CSW Industrials from $301.00 to $300.00 and set a "hold" rating for the company in a report on Wednesday, May 27th. Three research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $328.57.

CSW Industrials Stock Down 0.1%

CSW stock opened at $279.74 on Friday. The firm has a market cap of $4.57 billion, a PE ratio of 41.88 and a beta of 0.84. 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 twelve month low of $230.45 and a twelve month high of $337.02. The business has a 50 day moving average of $278.43 and a 200 day moving average of $287.99.

CSW Industrials (NYSE:CSW - Get Free Report) last issued its earnings results on Tuesday, May 26th. The basic materials company reported $3.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.80. CSW Industrials had a net margin of 10.35% and a return on equity of 15.91%. The firm had revenue of $308.96 million for the quarter. The company's revenue was up 34.0% compared to the same quarter last year. On average, research analysts forecast that CSW Industrials, Inc. will post 12.52 EPS for the current fiscal year.

CSW Industrials Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Friday, April 24th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.4%. This is a boost from CSW Industrials's previous quarterly dividend of $0.27. The ex-dividend date was Friday, April 24th. CSW Industrials's dividend payout ratio (DPR) is currently 17.96%.

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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