Citigroup Inc. Sells 29,422 Shares of CSW Industrials, Inc. $CSW

Key Points

• Citigroup Inc. reduced its stake in CSW Industrials by 53.1% in the first quarter, now holding 25,985 shares valued at approximately $7.57 million.
• CEO Joseph B. Armes sold 1,000 shares of CSW Industrials for about $294,920, which decreased his ownership by 1.55%.
• Wall Street analysts have mixed outlooks for CSW Industrials, with consensus target prices ranging from $273.00 to $321.00, while the stock has recently dipped 2.4%.

Citigroup Inc. lessened its position in shares of CSW Industrials, Inc. (NYSE:CSW - Free Report) by 53.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 25,985 shares of the basic materials company's stock after selling 29,422 shares during the quarter. Citigroup Inc. owned approximately 0.15% of CSW Industrials worth $7,575,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in CSW Industrials by 517.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 105 shares of the basic materials company's stock valued at $31,000 after purchasing an additional 88 shares during the period. Versant Capital Management Inc increased its position in CSW Industrials by 526.3% during the 1st quarter. Versant Capital Management Inc now owns 119 shares of the basic materials company's stock valued at $35,000 after purchasing an additional 100 shares during the period. Whittier Trust Co. acquired a new stake in CSW Industrials during the 1st quarter valued at approximately $59,000. GAMMA Investing LLC increased its position in CSW Industrials by 117.6% during the 1st quarter. GAMMA Investing LLC now owns 296 shares of the basic materials company's stock valued at $86,000 after purchasing an additional 160 shares during the period. Finally, Archer Investment Corp acquired a new stake in CSW Industrials during the 1st quarter valued at approximately $87,000. Institutional investors and hedge funds own 82.79% of the company's stock.

CSW Industrials Stock Down 0.6%

NYSE CSW traded down $1.58 during mid-day trading on Thursday, hitting $260.67. The company's stock had a trading volume of 14,609 shares, compared to its average volume of 127,228. The company's 50 day simple moving average is $287.13 and its 200 day simple moving average is $298.47. CSW Industrials, Inc. has a twelve month low of $241.99 and a twelve month high of $436.50. The company has a current ratio of 2.86, a quick ratio of 1.48 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of 31.14 and a beta of 0.91.

CSW Industrials (NYSE:CSW - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.23. CSW Industrials had a net margin of 15.18% and a return on equity of 13.78%. The business had revenue of $263.65 million during the quarter, compared to the consensus estimate of $278.27 million. Analysts anticipate that CSW Industrials, Inc. will post 8.49 earnings per share for the current year.

CSW Industrials Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Friday, July 25th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.4%. CSW Industrials's payout ratio is currently 12.90%.

Insiders Place Their Bets

In related news, EVP James E. Perry sold 145 shares of CSW Industrials stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $275.05, for a total value of $39,882.25. Following the completion of the sale, the executive vice president owned 25,178 shares of the company's stock, valued at approximately $6,925,208.90. This trade represents a 0.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Joseph B. Armes sold 1,000 shares of CSW Industrials stock in a transaction on Friday, August 15th. The shares were sold at an average price of $259.36, for a total transaction of $259,360.00. Following the completion of the sale, the chief executive officer directly owned 62,522 shares of the company's stock, valued at approximately $16,215,705.92. The trade was a 1.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,676 shares of company stock worth $1,942,668 in the last quarter. Insiders own 1.30% of the company's stock.

Analyst Upgrades and Downgrades

CSW has been the subject of a number of recent analyst reports. Citigroup increased their target price on shares of CSW Industrials from $313.00 to $321.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Truist Financial set a $273.00 target price on shares of CSW Industrials and gave the company a "hold" rating in a research report on Tuesday, August 5th. Finally, Wells Fargo & Company reduced their price objective on shares of CSW Industrials from $305.00 to $285.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, CSW Industrials has an average rating of "Hold" and an average price target of $319.75.

CSW Industrials Profile

CSW Industrials, Inc operates as a diversified industrial company in the United States and internationally. It operates through three segments: Contractor Solutions, Engineered Building Solutions, and Specialized Reliability Solutions. The Contractor Solutions segment provides condensate pads, pans, pumps, switches, and traps; cements, diffusers, grilles, registers, solvents, thread sealants, and vents; line set covers; refrigerant caps; wire pulling head tools; electrical protection, chemical maintenance, and installation supplies for HVAC; ductless mini-split systems installation support tools and accessories; and drain waste and vent system products for use in HVAC/R, plumbing, general industrial, architecturally specified building products.