Comerica Bank Grows Position in CSW Industrials, Inc. $CSW

Key Points

• Comerica Bank increased its stake in CSW Industrials by 14.9%, owning approximately 0.33% of the company, valued at over $16 million.
• Insider trading was noted, with CEO Joseph B. Armes selling 1,000 shares, reflecting a 1.57% decrease in ownership, and total insider sales reached $1.35 million in the past 90 days.
• Analysts have mixed ratings, with Citigroup raising their target price to $321, while Wells Fargo reduced theirs to $285, as the stock has an average target price of $319.75.

Comerica Bank increased its stake in CSW Industrials, Inc. (NYSE:CSW - Free Report) by 14.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,054 shares of the basic materials company's stock after purchasing an additional 7,278 shares during the period. Comerica Bank owned approximately 0.33% of CSW Industrials worth $16,341,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Bailard Inc. boosted its holdings in shares of CSW Industrials by 2.0% in the 1st quarter. Bailard Inc. now owns 1,705 shares of the basic materials company's stock worth $497,000 after purchasing an additional 33 shares in the last quarter. Fifth Third Bancorp increased its position in shares of CSW Industrials by 9.3% in the first quarter. Fifth Third Bancorp now owns 401 shares of the basic materials company's stock valued at $117,000 after acquiring an additional 34 shares during the period. Sequoia Financial Advisors LLC raised its position in CSW Industrials by 1.1% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,122 shares of the basic materials company's stock valued at $910,000 after purchasing an additional 34 shares during the last quarter. TCTC Holdings LLC raised its position in CSW Industrials by 2.2% during the 1st quarter. TCTC Holdings LLC now owns 1,882 shares of the basic materials company's stock valued at $549,000 after purchasing an additional 41 shares during the last quarter. Finally, Mariner LLC grew its position in shares of CSW Industrials by 2.1% in the 4th quarter. Mariner LLC now owns 2,204 shares of the basic materials company's stock worth $778,000 after buying an additional 45 shares during the last quarter. 82.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Citigroup lifted their price objective on CSW Industrials from $313.00 to $321.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Wells Fargo & Company lowered 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 report on Friday, August 1st. Finally, Truist Financial set a $273.00 price objective on shares of CSW Industrials and gave the stock a "hold" rating in a report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, CSW Industrials has a consensus rating of "Hold" and a consensus target price of $319.75.

Insider Activity at CSW Industrials

In other CSW Industrials news, Director Robert M. Swartz sold 200 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $301.38, for a total transaction of $60,276.00. Following the completion of the sale, the director directly owned 12,719 shares in the company, valued at $3,833,252.22. The trade was a 1.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Joseph B. Armes sold 1,000 shares of the business's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $259.36, for a total value of $259,360.00. Following the sale, the chief executive officer owned 62,522 shares of the company's stock, valued at approximately $16,215,705.92. This represents a 1.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,757 shares of company stock valued at $1,351,753 over the last ninety days. Company insiders own 1.30% of the company's stock.

CSW Industrials Stock Up 0.4%

Shares of CSW Industrials stock traded up $1.15 during trading on Friday, hitting $274.28. The company's stock had a trading volume of 158,318 shares, compared to its average volume of 191,112. 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 company has a fifty day simple moving average of $282.06 and a two-hundred day simple moving average of $295.66. The company has a market capitalization of $4.61 billion, a PE ratio of 32.77 and a beta of 0.91. CSW Industrials, Inc. has a 52 week low of $241.99 and a 52 week high of $436.50.

CSW Industrials (NYSE:CSW - Get Free Report) last released its earnings results on Thursday, July 31st. The basic materials company reported $2.85 EPS 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 firm had revenue of $263.65 million for the quarter, compared to analysts' expectations of $278.27 million. Equities research analysts predict that CSW Industrials, Inc. will post 8.49 earnings per share for the current year.

CSW Industrials Dividend Announcement

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

CSW Industrials Company 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.