BlackRock Inc. Takes $686.46 Million Position in CSW Industrials, Inc. $CSW

Key Points

• BlackRock acquired 2.47 million CSW Industrials shares worth approximately $686.5 million, giving it a 15.14% stake. Institutional investors and hedge funds collectively own 82.79% of the company.
• CSW Industrials reported quarterly EPS of $3.84, beating estimates by $0.18, while revenue rose 33% year over year to $350.65 million. The company also pays a quarterly dividend of $0.30 per share, yielding about 0.4% annually.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $347.57 target price. Shares opened at $329.84, while company insiders have sold 3,720 shares worth approximately $1.1 million over the past 90 days.

BlackRock Inc. purchased a new position in shares of CSW Industrials, Inc. (NYSE:CSW - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,466,624 shares of the basic materials company's stock, valued at approximately $686,462,000. BlackRock Inc. owned 15.14% of CSW Industrials at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. acquired a new position in shares of CSW Industrials during the first quarter worth about $26,000. Arax Advisory Partners acquired a new stake in shares of CSW Industrials in the fourth quarter valued at about $28,000. Danske Bank A S acquired a new stake in shares of CSW Industrials in the fourth quarter valued at about $29,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of CSW Industrials during the 2nd quarter valued at about $29,000. Finally, Global Retirement Partners LLC purchased a new stake in shares of CSW Industrials during the 2nd quarter valued at about $31,000. 82.79% of the stock is currently owned by institutional investors and hedge funds.

CSW Industrials Price Performance

Shares of CSW stock opened at $329.84 on Monday. The firm has a fifty day moving average of $300.33 and a two-hundred day moving average of $286.42. The firm has a market cap of $5.37 billion, a P/E ratio of 45.25 and a beta of 0.83. CSW Industrials, Inc. has a 1-year low of $230.45 and a 1-year high of $355.48. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.70 and a quick ratio of 1.36.

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

CSW Industrials Announces Dividend

The company also recently disclosed 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. The ex-dividend date was Friday, July 31st. This represents a $1.20 annualized dividend and a yield of 0.4%. CSW Industrials's dividend payout ratio is presently 16.46%.

Insider Buying and Selling

In other news, CEO Joseph B. Armes sold 1,500 shares of the business's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $279.52, for a total value of $419,280.00. Following the completion of the sale, the chief executive officer directly owned 69,100 shares in the company, valued at approximately $19,314,832. The trade was a 2.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 shares were sold at an average price of $346.96, for a total value of $249,811.20. Following the completion of the sale, the executive vice president owned 6,409 shares of the company's stock, valued at $2,223,666.64. This trade represents a 10.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 3,720 shares of company stock worth $1,095,001. 1.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CSW has been the topic of a number of recent research reports. Truist Financial boosted their target price on shares of CSW Industrials from $313.00 to $332.00 and gave the stock a "hold" rating in a research report on Monday, August 3rd. Zacks Research lowered shares of CSW Industrials from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th. Citigroup raised their price target on shares of CSW Industrials from $304.00 to $340.00 and gave the company a "neutral" rating in a report on Monday, August 3rd. JPMorgan Chase & Co. lifted their price target on shares of CSW Industrials from $350.00 to $380.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. Finally, Weiss Ratings upgraded shares of CSW Industrials from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $347.57.

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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