Fred Alger Management LLC Has $17.45 Million Stock Position in CSW Industrials, Inc. $CSW

Key Points

• Fred Alger Management LLC increased its position in CSW Industrials, Inc. by 5.3% in Q1, holding nearly 60,000 shares valued at approximately $17.45 million.
• Insider trading activity includes CEO Joseph B. Armes selling 1,000 shares at about $259.36 each, resulting in a decrease in his ownership by 1.57%.
• CSW Industrials recently announced a quarterly dividend of $0.27 per share, with an annualized dividend yield of 0.4% and a payout ratio of 12.90%.

Fred Alger Management LLC lifted its holdings in CSW Industrials, Inc. (NYSE:CSW - Free Report) by 5.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,857 shares of the basic materials company's stock after buying an additional 3,006 shares during the period. Fred Alger Management LLC owned about 0.36% of CSW Industrials worth $17,450,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Select Equity Group L.P. boosted its position in shares of CSW Industrials by 620.6% in the first quarter. Select Equity Group L.P. now owns 38,180 shares of the basic materials company's stock worth $11,130,000 after buying an additional 32,882 shares during the period. Punch & Associates Investment Management Inc. boosted its position in shares of CSW Industrials by 3.3% in the first quarter. Punch & Associates Investment Management Inc. now owns 48,833 shares of the basic materials company's stock worth $14,236,000 after buying an additional 1,580 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of CSW Industrials by 3.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 121,482 shares of the basic materials company's stock worth $35,414,000 after buying an additional 4,010 shares during the period. Integrated Wealth Concepts LLC boosted its position in shares of CSW Industrials by 20.0% in the first quarter. Integrated Wealth Concepts LLC now owns 970 shares of the basic materials company's stock worth $283,000 after buying an additional 162 shares during the period. Finally, AQR Capital Management LLC boosted its position in shares of CSW Industrials by 12.4% in the first quarter. AQR Capital Management LLC now owns 5,675 shares of the basic materials company's stock worth $1,654,000 after buying an additional 624 shares during the period. Institutional investors and hedge funds own 82.79% of the company's stock.

CSW Industrials Stock Performance

Shares of CSW Industrials stock traded down $4.10 during trading on Friday, reaching $250.74. The company's stock had a trading volume of 101,531 shares, compared to its average volume of 148,319. The business's fifty day moving average price is $273.29 and its 200-day moving average price is $292.31. 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 $4.21 billion, a price-to-earnings ratio of 29.96 and a beta of 0.91. CSW Industrials, Inc. has a one year low of $241.99 and a one year high of $436.50.

CSW Industrials (NYSE:CSW - Get Free Report) last released its quarterly earnings data 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 company had revenue of $263.65 million for the quarter, compared to analyst estimates of $278.27 million. CSW Industrials had a return on equity of 13.78% and a net margin of 15.18%. As a group, equities research analysts predict that CSW Industrials, Inc. will post 8.49 earnings per share for the current year.

CSW Industrials Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on CSW. Wells Fargo & Company decreased their target price on 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. Citigroup lifted their price objective on 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 price objective on CSW Industrials and gave the company a "hold" rating in a research report on Tuesday, August 5th. Finally, Zacks Research raised CSW Industrials from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, CSW Industrials presently has an average rating of "Hold" and an average price target of $319.75.

Insider Buying and Selling

In related news, EVP Don Sullivan sold 1,067 shares of the firm's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $283.14, for a total transaction of $302,110.38. Following the sale, the executive vice president owned 22,641 shares of the company's stock, valued at approximately $6,410,572.74. This trade represents a 4.50% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert M. Swartz sold 200 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $250.37, for a total value of $50,074.00. Following the sale, the director directly owned 12,319 shares in the company, valued at $3,084,308.03. The trade was a 1.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,412 shares of company stock valued at $1,247,397 in the last three months. 1.30% of the stock is currently owned by company insiders.

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.