Bank of America Corp DE Makes New $29.81 Million Investment in CSW Industrials, Inc. $CSW

Key Points

• Bank of America acquired 107,110 shares of CSW Industrials worth approximately $29.81 million, giving it a 0.66% stake. Institutional investors collectively own 82.79% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $347.57; JPMorgan recently raised its target to $380.
• CSW Industrials exceeded quarterly earnings expectations, reporting $3.84 in EPS versus the $3.66 consensus, while revenue rose 33% year over year to $350.65 million. The company also declared a quarterly dividend of $0.30 per share.

Bank of America Corp DE purchased a new position in CSW Industrials, Inc. (NYSE:CSW - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 107,110 shares of the basic materials company's stock, valued at approximately $29,809,000. Bank of America Corp DE owned approximately 0.66% of CSW Industrials as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Valley Wealth Managers Inc. acquired a new position in CSW Industrials during the first quarter worth $26,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of CSW Industrials in the 2nd quarter valued at $29,000. Global Retirement Partners LLC bought a new stake in shares of CSW Industrials in the 2nd quarter worth about $31,000. Sound Income Strategies LLC grew its holdings in shares of CSW Industrials by 628.6% in 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 during the last quarter. Finally, Hantz Financial Services Inc. acquired a new stake in shares of CSW Industrials during the 4th quarter worth about $44,000. 82.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CSW has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their price target on shares of CSW Industrials from $350.00 to $380.00 and gave the company an "overweight" rating in a research note on Friday, July 31st. Citigroup boosted their target price on CSW Industrials from $304.00 to $340.00 and gave the stock a "neutral" rating in a research report on Monday, August 3rd. Zacks Research lowered CSW Industrials from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Truist Financial raised their price target on CSW Industrials from $313.00 to $332.00 and gave the company a "hold" rating in a report on Monday, August 3rd. Finally, Wells Fargo & Company lifted their price objective on CSW Industrials from $285.00 to $320.00 and gave the stock an "equal weight" rating in a research report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $347.57.

Insider Buying and Selling

In related news, EVP Jeff Underwood sold 720 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $346.96, for a total value of $249,811.20. Following the sale, the executive vice president directly owned 6,409 shares in the company, valued at $2,223,666.64. This trade represents a 10.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Joseph B. Armes sold 1,500 shares of CSW Industrials stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $289.58, for a total transaction of $434,370.00. Following the transaction, the chief executive officer directly owned 62,736 shares in the company, valued at $18,167,090.88. The trade was a 2.34% 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. Company insiders own 1.20% of the company's stock.

CSW Industrials Price Performance

Shares of CSW stock opened at $303.38 on Wednesday. The firm's 50 day moving average price is $311.77 and its two-hundred day moving average price is $287.40. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.36 and a current ratio of 2.70. CSW Industrials, Inc. has a 52-week low of $230.45 and a 52-week high of $355.48. The stock has a market cap of $4.94 billion, a PE ratio of 41.62 and a beta of 0.81.

CSW Industrials (NYSE:CSW - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The basic materials company reported $3.84 EPS for the quarter, topping analysts' consensus estimates of $3.66 by $0.18. The business had revenue of $350.65 million during the quarter. CSW Industrials had a return on equity of 17.41% and a net margin of 10.34%.The firm's revenue was up 33.0% compared to the same quarter last year. As a group, analysts forecast that CSW Industrials, Inc. will post 12.77 EPS for the current year.

CSW Industrials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.4%. CSW Industrials's dividend payout ratio is 16.46%.

CSW Industrials Company Profile

CSW Industrials, Inc is a diversified industrial company that develops, manufactures and sells specialized products serving the building, construction, industrial and energy markets. Its offerings are sold under a portfolio of established brands and are designed for applications including heating, ventilation and air conditioning, refrigeration, plumbing, electrical systems and building safety.

The company operates through three primary business segments: Contractor Solutions, Specialized Reliability Solutions and Engineered Building Solutions.

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