Kayne Anderson Rudnick Investment Management LLC Acquires 81,139 Shares of CSW Industrials, Inc. $CSW

Key Points

• Kayne Anderson Rudnick Investment Management LLC has increased its stake in CSW Industrials by 34.5%, owning approximately 316,464 shares valued at $92.26 million as of the latest SEC filing.
• CSW Industrials recently declared a quarterly dividend of $0.27, which translates to an annualized dividend of $1.08 and a yield of 0.4%.
• The company reported earnings of $2.85 per share for the last quarter, surpassing estimates, but experienced revenue that fell short of expectations, totaling $263.65 million.

Kayne Anderson Rudnick Investment Management LLC increased its position in shares of CSW Industrials, Inc. (NYSE:CSW - Free Report) by 34.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 316,464 shares of the basic materials company's stock after acquiring an additional 81,139 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned approximately 1.89% of CSW Industrials worth $92,256,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Comerica Bank increased its holdings in CSW Industrials by 14.9% during the 1st quarter. Comerica Bank now owns 56,054 shares of the basic materials company's stock worth $16,341,000 after acquiring an additional 7,278 shares during the period. Campbell & CO Investment Adviser LLC increased its stake in CSW Industrials by 424.0% in the first quarter. Campbell & CO Investment Adviser LLC now owns 8,782 shares of the basic materials company's stock valued at $2,560,000 after acquiring an additional 7,106 shares during the last quarter. Van Hulzen Asset Management LLC increased its stake in CSW Industrials by 45.7% in the first quarter. Van Hulzen Asset Management LLC now owns 8,884 shares of the basic materials company's stock valued at $2,590,000 after acquiring an additional 2,786 shares during the last quarter. Quantbot Technologies LP bought a new position in CSW Industrials in the first quarter valued at $946,000. Finally, Northern Trust Corp increased its stake in CSW Industrials by 0.3% in the first quarter. Northern Trust Corp now owns 218,208 shares of the basic materials company's stock valued at $63,612,000 after acquiring an additional 553 shares during the last quarter. Institutional investors own 82.79% of the company's stock.

CSW Industrials Trading Down 0.1%

CSW traded down $0.40 during trading on Friday, hitting $272.73. 35,943 shares of the stock traded hands, compared to its average volume of 128,378. The firm has a market capitalization of $4.58 billion, a P/E ratio of 32.58 and a beta of 0.91. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.86 and a quick ratio of 1.48. The firm has a 50-day moving average of $282.68 and a 200 day moving average of $296.13. CSW Industrials, Inc. has a 12-month low of $241.99 and a 12-month high of $436.50.

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

CSW Industrials Announces Dividend

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

Insider Activity at CSW Industrials

In other CSW Industrials news, EVP Don Sullivan sold 1,067 shares of the company's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $283.14, for a total value of $302,110.38. Following the completion of the transaction, the executive vice president directly owned 22,641 shares in the company, valued at approximately $6,410,572.74. This represents a 4.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joseph B. Armes sold 1,000 shares of the company's stock in a transaction 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 transaction, the chief executive officer owned 62,522 shares of the company's stock, valued at $16,215,705.92. This trade represents a 1.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,757 shares of company stock valued at $1,351,753 over the last quarter. Company insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

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