Bank of New York Mellon Corp Buys New Position in CSW Industrials, Inc. $CSW

Bank of New York Mellon Corp purchased a new position in shares of CSW Industrials, Inc. (NYSE:CSW - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 100,307 shares of the basic materials company's stock, valued at approximately $27,915,000. Bank of New York Mellon Corp owned approximately 0.62% of CSW Industrials as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. purchased a new position in shares of CSW Industrials in the fourth quarter valued at $515,553,000. Capital World Investors purchased a new stake in CSW Industrials during the 4th quarter worth $308,934,000. Wasatch Advisors LP lifted its holdings in CSW Industrials by 31.1% in the 1st quarter. Wasatch Advisors LP now owns 873,659 shares of the basic materials company's stock worth $227,658,000 after buying an additional 207,186 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in CSW Industrials in the 4th quarter worth $237,891,000. Finally, Morgan Stanley purchased a new position in CSW Industrials in the 4th quarter valued at about $196,549,000. Hedge funds and other institutional investors own 82.79% of the company's stock.

CSW Industrials Price Performance

Shares of NYSE:CSW opened at $318.97 on Friday. The company has a current ratio of 2.70, a quick ratio of 1.36 and a debt-to-equity ratio of 0.77. The firm's 50 day moving average is $304.99 and its two-hundred day moving average is $288.00. The firm has a market capitalization of $5.20 billion, a P/E ratio of 43.75 and a beta of 0.83. CSW Industrials, Inc. has a 52 week low of $230.45 and a 52 week high of $355.48.

CSW Industrials (NYSE:CSW - Get Free Report) last posted its earnings results on Thursday, July 30th. The basic materials company reported $3.84 EPS for the quarter, beating the consensus estimate of $3.66 by $0.18. CSW Industrials had a return on equity of 17.41% and a net margin of 10.34%.The firm had revenue of $350.65 million for the quarter. The business's quarterly revenue was up 33.0% on a year-over-year basis. Analysts anticipate that CSW Industrials, Inc. will post 12.77 earnings per share for the current year.

CSW Industrials Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts recently commented on CSW shares. Zacks Research cut CSW Industrials from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Truist Financial raised their price objective on CSW Industrials from $313.00 to $332.00 and gave the company a "hold" rating in a research note on Monday, August 3rd. Weiss Ratings upgraded CSW Industrials from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, August 3rd. JPMorgan Chase & Co. upped their target price on CSW Industrials from $350.00 to $380.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. Finally, Wells Fargo & Company raised their price target on shares of 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 equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $347.57.

Insiders Place Their Bets

In other news, CEO Joseph B. Armes sold 1,500 shares of CSW Industrials stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $279.52, for a total value of $419,280.00. Following the transaction, the chief executive officer owned 69,100 shares of the company's stock, valued at $19,314,832. The trade was a 2.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jeff Underwood sold 720 shares of the business's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $346.96, for a total transaction of $249,811.20. Following the completion of the sale, the executive vice president owned 6,409 shares in the company, valued at $2,223,666.64. The trade was a 10.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.20% of the company's stock.

CSW Industrials Company 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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