Geode Capital Management LLC Acquires Shares of 392,802 CSW Industrials, Inc. $CSW

Key Points

• Geode Capital Management disclosed a new stake in CSW Industrials, buying 392,802 shares valued at about $115.3 million, equal to roughly 2.38% of the company.
• CSW Industrials reported strong quarterly results, posting EPS of $3.14 versus the $2.34 consensus and revenue of $308.96 million, up 34% year over year.
• The company also raised its quarterly dividend to $0.30 from $0.27, while analysts currently maintain a Moderate Buy consensus with a target price of $328.57.

Geode Capital Management LLC acquired a new stake in shares of CSW Industrials, Inc. (NYSE:CSW - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 392,802 shares of the basic materials company's stock, valued at approximately $115,318,000. Geode Capital Management LLC owned approximately 2.38% of CSW Industrials as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CSW. AQR Capital Management LLC lifted its holdings in CSW Industrials by 12.4% during the first quarter. AQR Capital Management LLC now owns 5,675 shares of the basic materials company's stock valued at $1,654,000 after purchasing an additional 624 shares in the last quarter. Integrated Wealth Concepts LLC lifted its holdings in CSW Industrials by 20.0% during the first quarter. Integrated Wealth Concepts LLC now owns 970 shares of the basic materials company's stock valued at $283,000 after purchasing an additional 162 shares in the last quarter. GAMMA Investing LLC purchased a new position in CSW Industrials during the fourth quarter valued at $50,000. Anderson Hoagland & Co. purchased a new position in shares of CSW Industrials in the fourth quarter worth about $365,000. Finally, Park Avenue Securities LLC purchased a new position in shares of CSW Industrials in the fourth quarter worth about $746,000. 82.79% of the stock is owned by hedge funds and other institutional investors.

CSW Industrials Price Performance

CSW Industrials stock opened at $266.13 on Friday. CSW Industrials, Inc. has a 12-month low of $230.45 and a 12-month high of $337.02. The stock has a market cap of $4.34 billion, a P/E ratio of 39.84 and a beta of 0.84. The company has a 50-day moving average price of $276.41 and a 200 day moving average price of $286.83. The company has a current ratio of 2.60, a quick ratio of 1.23 and a debt-to-equity ratio of 0.80.

CSW Industrials (NYSE:CSW - Get Free Report) last released its quarterly earnings results on Tuesday, May 26th. The basic materials company reported $3.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.34 by $0.80. The business had revenue of $308.96 million for the quarter. CSW Industrials had a net margin of 10.35% and a return on equity of 15.91%. CSW Industrials's revenue for the quarter was up 34.0% on a year-over-year basis. Sell-side analysts anticipate that CSW Industrials, Inc. will post 12.52 earnings per share for the current year.

CSW Industrials Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Friday, April 24th were paid a $0.30 dividend. This is a positive change from CSW Industrials's previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, April 24th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.5%. CSW Industrials's payout ratio is presently 17.96%.

Insider Buying and Selling at CSW Industrials

In related news, SVP Luke Alverson sold 1,007 shares of CSW Industrials stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $289.57, for a total value of $291,596.99. Following the completion of the transaction, the senior vice president owned 12,450 shares in the company, valued at approximately $3,605,146.50. The trade was a 7.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Don Sullivan sold 166 shares of CSW Industrials stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $300.26, for a total transaction of $49,843.16. Following the completion of the transaction, the executive vice president owned 21,567 shares of the company's stock, valued at $6,475,707.42. This trade represents a 0.76% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 5,180 shares of company stock worth $1,465,478. 1.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on CSW. Wells Fargo & Company raised their price target on shares of CSW Industrials from $280.00 to $285.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 27th. Weiss Ratings raised shares of CSW Industrials from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, May 26th. Robert W. Baird began coverage on shares of CSW Industrials in a research note on Tuesday, February 17th. They issued an "outperform" rating and a $378.00 price target on the stock. Truist Financial decreased their price target on shares of CSW Industrials from $301.00 to $300.00 and set a "hold" rating on the stock in a research note on Wednesday, May 27th. Finally, Zacks Research raised shares of CSW Industrials from a "strong sell" rating to a "hold" rating in a research note on Friday, May 8th. Two 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $328.57.

CSW Industrials Company 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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