Select Equity Group L.P. Increases Stock Position in CSW Industrials, Inc. $CSW

Key Points

• Select Equity Group L.P. significantly increased its holdings in CSW Industrials, boosting its position by 620.6% during the 1st quarter 2023, now owning approximately 0.23% of the company valued at over $11 million.
• CSW Industrials reported $2.85 EPS for the quarter, surpassing analyst estimates, but its revenue of $263.65 million was below the expected $278.27 million.
• The company announced a quarterly dividend of $0.27 per share, representing an annualized dividend of $1.08, with a payout ratio of 12.90%.

Select Equity Group L.P. increased its position in shares of CSW Industrials, Inc. (NYSE:CSW - Free Report) by 620.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,180 shares of the basic materials company's stock after purchasing an additional 32,882 shares during the period. Select Equity Group L.P. owned approximately 0.23% of CSW Industrials worth $11,130,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CSW. Champlain Investment Partners LLC purchased a new stake in CSW Industrials during the first quarter worth about $81,194,000. GAMMA Investing LLC boosted its holdings in CSW Industrials by 63,348.5% during the first quarter. GAMMA Investing LLC now owns 86,290 shares of the basic materials company's stock worth $25,155,000 after buying an additional 86,154 shares in the last quarter. Nuveen LLC purchased a new stake in CSW Industrials during the first quarter worth about $24,711,000. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in CSW Industrials by 34.5% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 316,464 shares of the basic materials company's stock worth $92,256,000 after buying an additional 81,139 shares in the last quarter. Finally, Federated Hermes Inc. boosted its holdings in CSW Industrials by 1,539.2% during the first quarter. Federated Hermes Inc. now owns 68,766 shares of the basic materials company's stock worth $20,047,000 after buying an additional 64,571 shares in the last quarter. Hedge funds and other institutional investors own 82.79% of the company's stock.

CSW Industrials Trading Down 1.7%

CSW traded down $4.28 during midday trading on Friday, hitting $250.56. The company's stock had a trading volume of 33,446 shares, compared to its average volume of 130,192. The company has a current ratio of 2.86, a quick ratio of 1.48 and a debt-to-equity ratio of 0.09. The firm has a market cap of $4.21 billion, a P/E ratio of 29.94 and a beta of 0.91. The firm has a 50-day moving average price of $274.38 and a two-hundred day moving average price of $292.68. 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 posted its quarterly earnings results on Thursday, July 31st. The basic materials company reported $2.85 EPS for the quarter, beating the consensus estimate 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. On average, research analysts anticipate that CSW Industrials, Inc. will post 8.49 earnings per share for the current year.

CSW Industrials Dividend Announcement

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

Insider Activity at CSW Industrials

In related news, EVP James E. Perry sold 145 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $275.05, for a total value of $39,882.25. Following the completion of the sale, the executive vice president directly owned 25,178 shares in the company, valued at approximately $6,925,208.90. The trade was a 0.57% decrease in their ownership of the stock. The transaction 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 firm's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $259.36, for a total value of $259,360.00. Following the completion of the transaction, the chief executive officer owned 62,522 shares in the company, valued at approximately $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 4,412 shares of company stock valued at $1,247,397 in the last ninety days. 1.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently commented on CSW shares. Citigroup boosted their price objective on shares of CSW Industrials from $313.00 to $321.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. 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. Wells Fargo & Company decreased their price objective on shares of CSW Industrials from $305.00 to $285.00 and set an "equal weight" rating on the stock in a report on Friday, August 1st. Finally, Zacks Research upgraded shares of CSW Industrials from a "hold" rating to a "strong-buy" rating in a report on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, CSW Industrials has an average rating of "Hold" and a consensus target price of $319.75.

CSW Industrials 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.