Bank of America Corp DE Sells 21,753 Shares of CSW Industrials, Inc. $CSW

Key Points

• Bank of America reduced its CSW Industrials stake by 15.4%, selling 21,753 shares and retaining 119,743 shares worth approximately $31.2 million. Institutional investors collectively own 82.79% of the company.
• CSW Industrials reported quarterly EPS of $3.84, exceeding estimates of $3.66, while revenue rose 33% year over year to $350.65 million.
• Analyst sentiment remains positive but cautious, with a “Moderate Buy” consensus and an average price target of $347.57; the stock recently traded near $345.05, close to its 12-month high.

Bank of America Corp DE reduced its position in CSW Industrials, Inc. (NYSE:CSW - Free Report) by 15.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 119,743 shares of the basic materials company's stock after selling 21,753 shares during the quarter. Bank of America Corp DE owned about 0.73% of CSW Industrials worth $31,203,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Valley Wealth Managers Inc. bought a new position in shares of CSW Industrials in the 1st quarter valued at $26,000. Arax Advisory Partners bought a new stake in shares of CSW Industrials during the 4th quarter valued at about $28,000. Danske Bank A S acquired a new position in shares of CSW Industrials during the fourth quarter valued at about $29,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in CSW Industrials in the fourth quarter worth approximately $31,000. Finally, Global Retirement Partners LLC acquired a new stake in CSW Industrials in the 4th quarter valued at $31,000. Institutional investors own 82.79% of the company's stock.

Insider Activity at CSW Industrials

In other news, EVP Jeff Underwood sold 720 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $2,223,666.64. This represents a 10.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joseph B. Armes sold 1,500 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $279.52, for a total transaction of $419,280.00. Following the completion of the transaction, the chief executive officer owned 69,100 shares of the company's stock, valued at approximately $19,314,832. The trade was a 2.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 3,720 shares of company stock worth $1,095,001. Insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CSW. Zacks Research downgraded shares of CSW Industrials from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th. Wells Fargo & Company lifted their target price on shares of CSW Industrials from $285.00 to $320.00 and gave the stock an "equal weight" rating in a research note on Friday, July 31st. Truist Financial increased their price objective on CSW Industrials from $313.00 to $332.00 and gave the stock a "hold" rating in a report on Monday, August 3rd. Weiss Ratings upgraded shares of CSW Industrials from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, August 3rd. Finally, Citigroup boosted their price objective on CSW Industrials from $304.00 to $340.00 and gave the stock a "neutral" rating in a report on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $347.57.

CSW Industrials Trading Up 0.6%

Shares of CSW opened at $345.05 on Friday. The company has a quick ratio of 1.36, a current ratio of 2.70 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $5.62 billion, a P/E ratio of 47.33 and a beta of 0.83. CSW Industrials, Inc. has a twelve month low of $230.45 and a twelve month high of $355.48. The firm has a fifty day simple moving average of $294.44 and a two-hundred day simple moving average of $284.99.

CSW Industrials (NYSE:CSW - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The basic materials company reported $3.84 EPS for the quarter, beating analysts' consensus estimates of $3.66 by $0.18. CSW Industrials had a return on equity of 17.41% and a net margin of 10.34%.The business had revenue of $350.65 million during the quarter. The firm's revenue for the quarter was up 33.0% on a year-over-year basis. On average, research analysts anticipate 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. Investors of record on Friday, July 31st were given a dividend of $0.30 per share. The ex-dividend date was Friday, July 31st. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. CSW Industrials's payout ratio is currently 16.46%.

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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