Fred Alger Management LLC Has $17.45 Million Stock Holdings 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 grew its position in CSW Industrials, Inc. (NYSE:CSW - Free Report) by 5.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 59,857 shares of the basic materials company's stock after purchasing 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 filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in shares of CSW Industrials by 117.6% in 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 in the last quarter. KBC Group NV boosted its stake in shares of CSW Industrials by 19.0% in the 1st quarter. KBC Group NV now owns 840 shares of the basic materials company's stock valued at $245,000 after purchasing an additional 134 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of CSW Industrials by 9.3% in the 1st quarter. Fifth Third Bancorp now owns 401 shares of the basic materials company's stock valued at $117,000 after purchasing an additional 34 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of CSW Industrials by 13.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 60,449 shares of the basic materials company's stock valued at $17,622,000 after purchasing an additional 7,348 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in shares of CSW Industrials by 9.6% in the 1st quarter. LPL Financial LLC now owns 14,299 shares of the basic materials company's stock valued at $4,168,000 after purchasing an additional 1,254 shares in the last quarter. Institutional investors and hedge funds own 82.79% of the company's stock.

CSW Industrials Price Performance

NYSE CSW traded down $4.10 on Friday, hitting $250.74. 101,531 shares of the company were exchanged, compared to its average volume of 145,750. The company has a current ratio of 2.86, a quick ratio of 1.48 and a debt-to-equity ratio of 0.09. CSW Industrials, Inc. has a 1-year low of $241.99 and a 1-year high of $436.50. The company has a market cap of $4.21 billion, a P/E ratio of 29.96 and a beta of 0.91. The firm has a 50 day moving average of $273.29 and a two-hundred day moving average of $292.18.

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

CSW Industrials Announces Dividend

The firm also recently announced 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 presently 12.90%.

Insider Buying and Selling at CSW Industrials

In other CSW Industrials news, EVP Don Sullivan sold 1,067 shares of the company's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $283.14, for a total transaction of $302,110.38. Following 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Joseph B. Armes sold 1,000 shares of the company's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $294.92, for a total transaction of $294,920.00. Following the transaction, the chief executive officer owned 63,522 shares in the company, valued at approximately $18,733,908.24. The trade was a 1.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,412 shares of company stock valued at $1,247,397. 1.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CSW has been the topic of several recent analyst reports. Zacks Research upgraded shares of CSW Industrials from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 2nd. Truist Financial set a $273.00 price target on shares of CSW Industrials and gave the stock a "hold" rating in a research report on Tuesday, August 5th. Wells Fargo & Company reduced their price target on shares of CSW Industrials from $305.00 to $285.00 and set an "equal weight" rating on the stock in a research report on Friday, August 1st. Finally, Citigroup upped their price target on shares of CSW Industrials from $313.00 to $321.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, CSW Industrials 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.