California State Teachers Retirement System Cuts Stake in CSW Industrials, Inc. $CSW

California State Teachers Retirement System reduced its stake in CSW Industrials, Inc. (NYSE:CSW - Free Report) by 2.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,024 shares of the basic materials company's stock after selling 533 shares during the quarter. California State Teachers Retirement System owned approximately 0.12% of CSW Industrials worth $5,294,379 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Port Capital LLC purchased a new stake in shares of CSW Industrials during the 2nd quarter worth about $1,392,000. Mawer Investment Management Ltd. acquired a new stake in CSW Industrials during the fourth quarter worth about $4,454,000. LRT Capital Management LLC acquired a new position in CSW Industrials in the fourth quarter worth $1,550,000. Fifth Third Bancorp grew its holdings in shares of CSW Industrials by 19,565.8% in the 1st quarter. Fifth Third Bancorp now owns 81,023 shares of the basic materials company's stock valued at $21,113,000 after buying an additional 80,611 shares during the period. Finally, Norges Bank bought a new position in shares of CSW Industrials in the fourth quarter valued at $86,425,000. 82.79% of the stock is currently owned by hedge funds and other institutional investors.

CSW Industrials Stock Down 0.4%

Shares of CSW traded down $1.21 during mid-day trading on Tuesday, reaching $291.92. The company's stock had a trading volume of 53,335 shares, compared to its average volume of 147,010. CSW Industrials, Inc. has a 1 year low of $230.45 and a 1 year high of $355.48. The company has a market cap of $4.76 billion, a price-to-earnings ratio of 40.04 and a beta of 0.81. 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 business has a fifty day moving average of $310.33 and a 200 day moving average of $287.35.

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

CSW Industrials Announces Dividend

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

Insider Transactions at CSW Industrials

In other CSW Industrials news, EVP Jeff Underwood sold 720 shares of CSW Industrials stock in a transaction 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 approximately $2,223,666.64. The trade was a 10.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.20% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on CSW. Truist Financial raised their price target on shares of CSW Industrials from $313.00 to $332.00 and gave the company a "hold" rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. lifted their price objective 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. Zacks Research lowered CSW Industrials from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. Weiss Ratings raised CSW Industrials from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, August 3rd. Finally, Citigroup lifted their target price on CSW Industrials from $304.00 to $340.00 and gave the company a "neutral" rating in a research note on Monday, August 3rd. Two investment 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, the company currently has an average rating of "Moderate Buy" and a consensus target price of $347.57.

CSW Industrials 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.