CenterBook Partners LP Acquires New Position in CSW Industrials, Inc. $CSW

Key Points

• CenterBook Partners LP disclosed a new fourth-quarter stake in CSW Industrials, buying 17,640 shares worth about $5.18 million. Institutional ownership remains high, with hedge funds and other investors holding 82.79% of the stock.
• CSW Industrials reported better-than-expected earnings for the latest quarter, posting $3.14 EPS versus the $2.34 consensus estimate. Revenue rose 34% year over year to $308.96 million.
• The company also raised its quarterly dividend to $0.30 per share from $0.27, while analysts currently have a Moderate Buy consensus rating with an average price target of $328.57.

CenterBook Partners LP acquired a new stake in CSW Industrials, Inc. (NYSE:CSW - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 17,640 shares of the basic materials company's stock, valued at approximately $5,178,000. CenterBook Partners LP owned about 0.11% of CSW Industrials as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CSW. AQR Capital Management LLC raised its position in shares of CSW Industrials by 12.4% in the 1st quarter. AQR Capital Management LLC now owns 5,675 shares of the basic materials company's stock valued at $1,654,000 after purchasing an additional 624 shares during the last quarter. Integrated Wealth Concepts LLC raised its position in shares of CSW Industrials by 20.0% in the 1st quarter. Integrated Wealth Concepts LLC now owns 970 shares of the basic materials company's stock valued at $283,000 after purchasing an additional 162 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of CSW Industrials in the 4th quarter valued at approximately $50,000. Anderson Hoagland & Co. purchased a new position in shares of CSW Industrials in the 4th quarter valued at approximately $365,000. Finally, Park Avenue Securities LLC purchased a new position in shares of CSW Industrials in the 4th quarter valued at approximately $746,000. 82.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CSW has been the subject of several research analyst reports. Citigroup decreased their price objective on shares of CSW Industrials from $307.00 to $304.00 and set a "neutral" rating for the company in a research report on Wednesday, May 27th. Weiss Ratings raised shares of CSW Industrials from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, May 26th. Truist Financial decreased their price objective on shares of CSW Industrials from $301.00 to $300.00 and set a "hold" rating for the company in a research report on Wednesday, May 27th. Robert W. Baird initiated coverage on shares of CSW Industrials in a research report on Tuesday, February 17th. They issued an "outperform" rating and a $378.00 price objective for the company. Finally, Wells Fargo & Company increased their price objective on shares of CSW Industrials from $280.00 to $285.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 27th. 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 stock. According to data from MarketBeat.com, CSW Industrials presently has a consensus rating of "Moderate Buy" and an average price target of $328.57.

Insider Buying and Selling at CSW Industrials

In other CSW Industrials news, SVP Luke Alverson sold 1,007 shares of the firm's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $289.57, for a total transaction of $291,596.99. Following the completion of the transaction, the senior vice president directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 that occurred on Wednesday, April 15th. The stock was sold at an average price of $286.77, for a total transaction of $430,155.00. Following the sale, the chief executive officer directly owned 84,494 shares in the company, valued at $24,230,344.38. The trade was a 1.74% decrease in their position. 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 quarter, insiders sold 5,180 shares of company stock valued at $1,465,478. 1.30% of the stock is owned by corporate insiders.

CSW Industrials Stock Performance

CSW opened at $266.13 on Monday. CSW Industrials, Inc. has a 12-month low of $230.45 and a 12-month high of $337.02. The company has a current ratio of 2.60, a quick ratio of 1.23 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $4.34 billion, a PE ratio of 39.84 and a beta of 0.84. The firm has a 50 day moving average of $276.41 and a two-hundred day moving average of $287.15.

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

CSW Industrials Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, April 24th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, April 24th. This represents a $1.20 dividend on an annualized basis and a yield of 0.5%. This is a boost from CSW Industrials's previous quarterly dividend of $0.27. CSW Industrials's payout ratio is 17.96%.

CSW Industrials 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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