First Manhattan CO. LLC. Sells 10,615 Shares of CSW Industrials, Inc. $CSW

Key Points

• First Manhattan CO. LLC. has reduced its stake in CSW Industrials, Inc. by 3.6%, owning approximately 1.70% of the company, which is valued at $83.39 million.
• Several hedge funds, such as Mitsubishi UFJ Asset Management and Versant Capital Management, have significantly increased their positions, showcasing heightened institutional interest in the firm.
• CSW Industrials reported earnings of $2.85 per share, exceeding analyst expectations, and declared a quarterly dividend of $0.27, indicating strong financial performance despite fluctuating revenue relative to projections.

First Manhattan CO. LLC. lowered its stake in shares of CSW Industrials, Inc. (NYSE:CSW - Free Report) by 3.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 286,055 shares of the basic materials company's stock after selling 10,615 shares during the period. First Manhattan CO. LLC. owned about 1.70% of CSW Industrials worth $83,391,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Champlain Investment Partners LLC purchased a new position in shares of CSW Industrials during the first quarter valued at approximately $81,194,000. GAMMA Investing LLC raised its stake in shares of 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 valued at $25,155,000 after acquiring an additional 86,154 shares during the period. Nuveen LLC purchased a new position in shares of CSW Industrials in the 1st quarter valued at $24,711,000. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of CSW Industrials by 34.5% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 316,464 shares of the basic materials company's stock valued at $92,256,000 after acquiring an additional 81,139 shares during the period. Finally, Federated Hermes Inc. grew its holdings in CSW Industrials by 1,539.2% during the 1st quarter. Federated Hermes Inc. now owns 68,766 shares of the basic materials company's stock valued at $20,047,000 after purchasing an additional 64,571 shares in the last quarter. Hedge funds and other institutional investors own 82.79% of the company's stock.

Insider Activity

In other news, EVP Don Sullivan sold 1,067 shares of the business's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $283.14, for a total value of $302,110.38. Following the completion of the sale, the executive vice president directly owned 22,641 shares in the company, valued at approximately $6,410,572.74. The trade was a 4.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James E. Perry sold 145 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $275.05, for a total transaction of $39,882.25. Following the transaction, the executive vice president directly owned 25,178 shares in the company, valued at $6,925,208.90. This trade represents a 0.57% decrease in their position. 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 over the last three months. Corporate insiders own 1.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CSW. Wells Fargo & Company lowered their price target on shares of CSW Industrials from $305.00 to $285.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. Citigroup increased 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. Zacks Research raised shares of CSW Industrials from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Finally, Truist Financial set a $273.00 target price on shares of CSW Industrials and gave the company a "hold" rating in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, CSW Industrials has an average rating of "Hold" and a consensus price target of $319.75.

CSW Industrials Stock Down 0.4%

Shares of CSW stock traded down $0.99 during trading on Friday, hitting $264.96. 195,644 shares of the company were exchanged, compared to its average volume of 166,201. 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 capitalization of $4.45 billion, a price-to-earnings ratio of 31.66 and a beta of 0.91. The business's 50-day simple moving average is $278.27 and its 200 day simple moving average is $294.05. CSW Industrials, Inc. has a twelve month low of $241.99 and a twelve month high of $436.50.

CSW Industrials (NYSE:CSW - Get Free Report) last posted 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. The firm had revenue of $263.65 million during the quarter, compared to analysts' expectations of $278.27 million. CSW Industrials had a net margin of 15.18% and a return on equity of 13.78%. As a group, analysts forecast that CSW Industrials, Inc. will post 8.49 EPS for the current fiscal year.

CSW Industrials Announces Dividend

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