Bank of New York Mellon Corp Trims Holdings in CSW Industrials, Inc. $CSW

Key Points

• Bank of New York Mellon reduced its CSW Industrials stake by 7.7% in the first quarter, selling 8,150 shares and retaining 97,937 shares worth about $25.5 million. Institutional investors collectively own 82.79% of the company.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $330.43. Recent ratings included a Zacks upgrade to “strong buy,” while several firms maintained “hold” or “neutral” views.
• CSW Industrials reported quarterly earnings of $3.14 per share, beating estimates by $0.80, while revenue rose 34% year over year to $308.96 million. The company also declared a quarterly dividend of $0.30 per share, equivalent to a 0.4% yield.

Bank of New York Mellon Corp reduced its stake in CSW Industrials, Inc. (NYSE:CSW - Free Report) by 7.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 97,937 shares of the basic materials company's stock after selling 8,150 shares during the quarter. Bank of New York Mellon Corp owned 0.59% of CSW Industrials worth $25,520,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

CSW has been the subject of several research reports. Zacks Research raised CSW Industrials from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 8th. Weiss Ratings lowered shares of CSW Industrials from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, July 14th. Wells Fargo & Company increased their price target 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. Truist Financial raised their price objective on shares of CSW Industrials from $300.00 to $313.00 and gave the company a "hold" rating in a research note on Thursday, July 2nd. Finally, Citigroup dropped their price objective on shares of CSW Industrials from $307.00 to $304.00 and set a "neutral" 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 assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, CSW Industrials has a consensus rating of "Moderate Buy" and an average target price of $330.43.

Insider Activity

In other news, SVP Luke Alverson sold 1,007 shares of the firm's stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $289.57, for a total transaction of $291,596.99. Following the sale, the senior vice president owned 12,450 shares of the company's stock, valued at approximately $3,605,146.50. This trade represents a 7.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Joseph B. Armes sold 1,500 shares of the firm's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $279.52, for a total value of $419,280.00. Following the sale, the chief executive officer directly owned 69,100 shares in the company, valued at $19,314,832. This trade represents a 2.12% 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. Over the last ninety days, insiders have sold 4,007 shares of company stock valued at $1,136,787. Insiders own 1.20% of the company's stock.

CSW Industrials Trading Up 1.2%

NYSE CSW opened at $292.61 on Tuesday. CSW Industrials, Inc. has a 52 week low of $230.45 and a 52 week high of $337.02. The firm has a 50 day moving average of $277.27 and a two-hundred day moving average of $283.67. 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 stock has a market capitalization of $4.77 billion, a PE ratio of 43.80 and a beta of 0.84.

CSW Industrials (NYSE:CSW - Get Free Report) last announced its quarterly earnings data on Tuesday, May 26th. The basic materials company reported $3.14 earnings per share for the quarter, beating analysts' consensus estimates of $2.34 by $0.80. The business had revenue of $308.96 million for the quarter. CSW Industrials had a net margin of 10.35% and a return on equity of 15.91%. The business's revenue for the quarter was up 34.0% on a year-over-year basis. As a group, research analysts expect that CSW Industrials, Inc. will post 12.52 EPS for the current fiscal year.

CSW Industrials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders 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 dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, July 31st. CSW Industrials's dividend payout ratio is currently 17.96%.

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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