CSW Industrials, Inc. $CSW Shares Sold by Citigroup Inc.

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. reduced its stake in CSW Industrials, Inc. (NYSE:CSW - Free Report) by 53.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,985 shares of the basic materials company's stock after selling 29,422 shares during the period. Citigroup Inc. owned approximately 0.15% of CSW Industrials worth $7,575,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake 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 worth $31,000 after acquiring an additional 88 shares in the last quarter. Versant Capital Management Inc lifted its stake 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 worth $35,000 after acquiring an additional 100 shares in the last quarter. Whittier Trust Co. acquired a new position in CSW Industrials during the 1st quarter worth about $59,000. GAMMA Investing LLC lifted its stake in CSW Industrials by 117.6% during the 1st quarter. GAMMA Investing LLC now owns 296 shares of the basic materials company's stock worth $86,000 after acquiring an additional 160 shares in the last quarter. Finally, Archer Investment Corp acquired a new position in CSW Industrials during the 1st quarter worth about $87,000. 82.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at CSW Industrials

In other CSW Industrials news, CEO Joseph B. Armes sold 1,000 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was 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. This trade represents a 1.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James E. Perry sold 145 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $275.05, for a total value of $39,882.25. Following the sale, the executive vice president directly owned 25,178 shares of the company's stock, valued at $6,925,208.90. The trade was a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,676 shares of company stock worth $1,942,668 in the last ninety days. Company insiders own 1.30% of the company's stock.

CSW Industrials Stock Performance

CSW Industrials stock traded down $4.25 during mid-day trading on Thursday, reaching $258.00. 216,305 shares of the company were exchanged, compared to its average volume of 188,253. CSW Industrials, Inc. has a twelve month low of $241.99 and a twelve month high of $436.50. The firm's 50-day simple moving average is $286.19 and its two-hundred day simple moving average is $298.03. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.48 and a current ratio of 2.86. The firm has a market cap of $4.33 billion, a PE ratio of 30.82 and a beta of 0.91.

CSW Industrials (NYSE:CSW - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The basic materials company reported $2.85 earnings per share for the quarter, topping analysts' consensus estimates of $2.62 by $0.23. CSW Industrials had a return on equity of 13.78% and a net margin of 15.18%.The company had revenue of $263.65 million during the quarter, compared to analysts' expectations of $278.27 million. Equities analysts predict that CSW Industrials, Inc. will post 8.49 earnings per share for the current fiscal year.

CSW Industrials Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Friday, July 25th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.4%. CSW Industrials's payout ratio is 12.90%.

Analyst Ratings Changes

Several equities analysts recently issued reports on CSW shares. Wells Fargo & Company decreased their target price on CSW Industrials from $305.00 to $285.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. Truist Financial set a $273.00 target price on CSW Industrials and gave the stock a "hold" rating in a research note on Tuesday, August 5th. Finally, Citigroup increased their target price on CSW Industrials from $313.00 to $321.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $319.75.

About CSW Industrials

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.