Allspring Global Investments Holdings LLC Has $34.17 Million Stake in CSW Industrials, Inc. $CSW

Key Points

• Allspring Global Investments cut its CSW Industrials stake by 6.6% in the first quarter, but still held 131,241 shares valued at about $34.17 million.
• CSW Industrials posted strong quarterly results, with EPS of $3.14 beating estimates by $0.80 and revenue rising 34% year over year to $308.96 million.
• Analyst sentiment remains mixed but constructive: the stock carries a Moderate Buy consensus rating with a $330.43 price target, while the company also declared a $0.30 quarterly dividend payable August 14.

Allspring Global Investments Holdings LLC lowered its stake in CSW Industrials, Inc. (NYSE:CSW - Free Report) by 6.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 131,241 shares of the basic materials company's stock after selling 9,289 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.80% of CSW Industrials worth $34,167,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CSW. Arax Advisory Partners bought a new position in shares of CSW Industrials in the 4th quarter worth $28,000. Danske Bank A S bought a new stake in CSW Industrials during the 4th quarter worth approximately $29,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of CSW Industrials in the fourth quarter worth approximately $31,000. Global Retirement Partners LLC purchased a new stake in shares of CSW Industrials in the fourth quarter worth approximately $31,000. Finally, CWM LLC purchased a new stake in CSW Industrials in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 82.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CSW. Truist Financial lifted their target price on shares of CSW Industrials from $300.00 to $313.00 and gave the stock a "hold" rating in a research report on Thursday, July 2nd. Weiss Ratings downgraded CSW Industrials from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, July 14th. Citigroup decreased their target price on CSW Industrials from $307.00 to $304.00 and set a "neutral" rating for the company in a research report on Wednesday, May 27th. Zacks Research raised shares of CSW Industrials from a "hold" rating to a "strong-buy" rating in a report on Monday, June 8th. Finally, Wells Fargo & Company lifted their price target on shares of CSW Industrials from $280.00 to $285.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 27th. Three equities research 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 company's stock. According to MarketBeat, CSW Industrials has an average rating of "Moderate Buy" and a consensus price target of $330.43.

CSW Industrials Stock Down 0.1%

CSW stock opened at $279.11 on Monday. The company has a quick ratio of 1.23, a current ratio of 2.60 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $4.55 billion, a PE ratio of 41.78 and a beta of 0.84. CSW Industrials, Inc. has a twelve month low of $230.45 and a twelve month high of $337.02. The stock has a 50-day simple moving average of $274.66 and a two-hundred day simple moving average of $284.38.

CSW Industrials (NYSE:CSW - Get Free Report) last announced its quarterly earnings results on Tuesday, May 26th. The basic materials company reported $3.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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. CSW Industrials's revenue for the quarter was up 34.0% compared to the same quarter last year. On average, equities analysts predict that CSW Industrials, Inc. will post 12.52 EPS for the current fiscal year.

CSW Industrials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, July 31st. CSW Industrials's payout ratio is presently 17.96%.

Insider Transactions at CSW Industrials

In other CSW Industrials news, SVP Luke Alverson sold 1,007 shares of the company's stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $289.57, for a total value of $291,596.99. Following the transaction, the senior vice president directly owned 12,450 shares in the company, valued at $3,605,146.50. This represents a 7.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 CSW Industrials stock in a transaction on Monday, June 15th. The stock was sold at an average price of $279.52, for a total transaction of $419,280.00. Following the sale, the chief executive officer directly owned 69,100 shares of the company's stock, valued at $19,314,832. This represents 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. Insiders sold a total of 4,007 shares of company stock worth $1,136,787 over the last 90 days. Corporate insiders own 1.30% of the company's stock.

CSW Industrials 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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