CSW Industrials, Inc. $CSW Stock Position Decreased by Wasatch Advisors LP

Key Points

• Wasatch Advisors reduced its CSW Industrials stake by 20.7% in the second quarter, selling 180,623 shares and retaining 693,036 shares valued at approximately $192.9 million. Institutional investors collectively own 82.79% of the company.
• CSW Industrials reported quarterly EPS of $3.84, exceeding estimates of $3.66, while revenue rose 33% year over year to $350.65 million. Shares opened at $351.13, near their 12-month high.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $347.57, while JPMorgan raised its target to $380. The company also declared a quarterly dividend of $0.30 per share, representing a 0.3% yield.

Wasatch Advisors LP trimmed its stake in CSW Industrials, Inc. (NYSE:CSW - Free Report) by 20.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 693,036 shares of the basic materials company's stock after selling 180,623 shares during the quarter. CSW Industrials makes up 1.3% of Wasatch Advisors LP's holdings, making the stock its 25th largest holding. Wasatch Advisors LP owned about 4.25% of CSW Industrials worth $192,872,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. acquired a new position in shares of CSW Industrials in the 4th quarter valued at $515,553,000. Capital World Investors purchased a new position in CSW Industrials in the 4th quarter worth about $308,934,000. Northwestern Mutual Wealth Management Co. acquired a new stake in CSW Industrials during the 4th quarter worth about $237,891,000. Morgan Stanley acquired a new stake in CSW Industrials during the 4th quarter worth about $196,549,000. Finally, State Street Corp acquired a new stake in CSW Industrials during the 4th quarter worth about $187,169,000. 82.79% of the stock is owned by institutional investors and hedge funds.

CSW Industrials Trading Up 1.0%

Shares of NYSE:CSW opened at $351.13 on Wednesday. The firm has a fifty day moving average of $289.86 and a two-hundred day moving average of $284.31. The firm has a market capitalization of $5.72 billion, a P/E ratio of 48.17 and a beta of 0.83. CSW Industrials, Inc. has a 12-month low of $230.45 and a 12-month high of $355.48. The company has a quick ratio of 1.36, a current ratio of 2.70 and a debt-to-equity ratio of 0.77.

CSW Industrials (NYSE:CSW - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The basic materials company reported $3.84 earnings per share for the quarter, topping analysts' consensus estimates of $3.66 by $0.18. CSW Industrials had a net margin of 10.34% and a return on equity of 17.41%. The business had revenue of $350.65 million for the quarter. The firm's revenue was up 33.0% compared to the same quarter last year. On average, equities analysts expect that CSW Industrials, Inc. will post 12.77 EPS for the current fiscal year.

CSW Industrials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a $0.30 dividend. The ex-dividend date is Friday, July 31st. This represents a $1.20 dividend on an annualized basis and a yield of 0.3%. CSW Industrials's payout ratio is 16.46%.

Analysts Set New Price Targets

Several analysts have recently commented on CSW shares. JPMorgan Chase & Co. raised their target price on CSW Industrials from $350.00 to $380.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. Truist Financial upped their price target on CSW Industrials from $313.00 to $332.00 and gave the company a "hold" rating in a research report on Monday, August 3rd. Citigroup raised their price objective on CSW Industrials from $304.00 to $340.00 and gave the stock a "neutral" rating in a research report on Monday, August 3rd. Zacks Research cut CSW Industrials from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Finally, Wells Fargo & Company lifted their target price on CSW Industrials from $285.00 to $320.00 and gave the company an "equal weight" rating in a research note on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, CSW Industrials has a consensus rating of "Moderate Buy" and an average price target of $347.57.

Insider Activity

In other news, CEO Joseph B. Armes sold 1,500 shares of CSW Industrials stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $279.52, for a total transaction of $419,280.00. Following the completion of the sale, the chief executive officer directly owned 69,100 shares in the company, valued at $19,314,832. The trade was a 2.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jeff Underwood sold 720 shares of the business's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $346.96, for a total value of $249,811.20. Following the completion of the sale, the executive vice president directly owned 6,409 shares of the company's stock, valued at approximately $2,223,666.64. The trade was a 10.10% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 3,720 shares of company stock worth $1,095,001. Insiders own 1.20% of the company's stock.

CSW Industrials Profile

CSW Industrials, Inc is a diversified industrial manufacturer that develops and supplies specialty chemical products, performance materials and precision surface solutions. The company's offerings span a range of end markets including energy, industrial processing, converting and automotive, where its products serve critical functions in production efficiency, equipment maintenance and process enhancement.

In its chemical business, CSW Industrials produces solvent- and water-based formulations such as surfactants, corrosion inhibitors and custom blends used in oilfield exploration and production, metalworking, water treatment and other industrial applications.

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