Assetmark Inc. Raises Holdings in CSW Industrials, Inc. (NYSE:CSW)

Key Points

• Assetmark Inc. significantly increased its holdings in CSW Industrials by 7,512.5% in Q1, owning 1,827 shares valued at approximately $533,000 as of its latest SEC filing.
• Insiders at CSW Industrials, including CEO Joseph B. Armes and EVP Don Sullivan, sold shares totaling over $596,000 in July, indicating a 1.55% and 4.05% decrease in their respective ownership.
• CSW Industrials recently announced a quarterly dividend of $0.27 per share, with a proposed annualized yield of 0.4%, reflecting a payout ratio of 12.84%.

Assetmark Inc. lifted its stake in CSW Industrials, Inc. (NYSE:CSW - Free Report) by 7,512.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,827 shares of the basic materials company's stock after buying an additional 1,803 shares during the quarter. Assetmark Inc.'s holdings in CSW Industrials were worth $533,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Norges Bank acquired a new position in CSW Industrials in the 4th quarter worth about $59,250,000. GAMMA Investing LLC raised its holdings in CSW Industrials by 63,348.5% in the 1st quarter. GAMMA Investing LLC now owns 86,290 shares of the basic materials company's stock worth $25,155,000 after purchasing an additional 86,154 shares during the period. Raymond James Financial Inc. acquired a new position in CSW Industrials in the 4th quarter worth about $18,197,000. Franklin Resources Inc. raised its holdings in CSW Industrials by 77.8% in the 4th quarter. Franklin Resources Inc. now owns 102,458 shares of the basic materials company's stock worth $36,147,000 after purchasing an additional 44,841 shares during the period. Finally, Conestoga Capital Advisors LLC raised its holdings in CSW Industrials by 5.1% in the 1st quarter. Conestoga Capital Advisors LLC now owns 603,277 shares of the basic materials company's stock worth $175,867,000 after purchasing an additional 29,285 shares during the period. Hedge funds and other institutional investors own 82.79% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CSW. Citigroup upped their price target on 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 target on CSW Industrials and gave the stock a "hold" rating in a report on Tuesday. Finally, Wells Fargo & Company reduced their target price on CSW Industrials from $305.00 to $285.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $319.75.

Insider Transactions at CSW Industrials

In related news, Director Robert M. Swartz sold 200 shares of the stock in a transaction that occurred 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 completion of the sale, the director owned 12,319 shares of the company's stock, valued at approximately $3,084,308.03. This trade represents a 1.60% 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 this link. Also, EVP James E. Perry sold 145 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $304.00, for a total value of $44,080.00. Following the completion of the sale, the executive vice president directly owned 25,468 shares of the company's stock, valued at approximately $7,742,272. This represents a 0.57% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,964 shares of company stock valued at $1,839,555. 1.30% of the stock is currently owned by company insiders.

CSW Industrials Price Performance

Shares of CSW Industrials stock traded up $0.80 during mid-day trading on Wednesday, reaching $252.21. 62,347 shares of the stock traded hands, compared to its average volume of 122,051. The business has a 50-day moving average of $295.97 and a 200 day moving average of $305.55. CSW Industrials, Inc. has a fifty-two week low of $241.99 and a fifty-two week high of $436.50. The stock has a market capitalization of $4.24 billion, a PE ratio of 30.13 and a beta of 0.91. The company has a quick ratio of 1.48, a current ratio of 2.86 and a debt-to-equity ratio of 0.09.

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

CSW Industrials Dividend Announcement

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

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.