Heron Bay Capital Management Acquires New Position in CSW Industrials, Inc. $CSW

Key Points

• Heron Bay Capital Management initiated a CSW Industrials position of 33,174 shares worth approximately $9.2 million, representing about 0.20% of the company. Institutional investors collectively own 82.79% of CSW’s stock.
• 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 recently traded at $329.84, up 2.2%.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $347.57, although ratings range from Strong Buy to Hold. The company also declared a quarterly dividend of $0.30 per share, yielding 0.4% annually.

Heron Bay Capital Management bought a new position in CSW Industrials, Inc. (NYSE:CSW - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 33,174 shares of the basic materials company's stock, valued at approximately $9,232,000. Heron Bay Capital Management owned about 0.20% of CSW Industrials at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Whittier Trust Co. grew its position in CSW Industrials by 24.8% during the first quarter. Whittier Trust Co. now owns 252 shares of the basic materials company's stock valued at $67,000 after acquiring an additional 50 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of CSW Industrials by 8.1% in the 4th quarter. Sanctuary Advisors LLC now owns 984 shares of the basic materials company's stock worth $289,000 after acquiring an additional 74 shares during the last quarter. Arax Advisory Partners bought a new stake in shares of CSW Industrials in the 4th quarter worth approximately $28,000. Danske Bank A S purchased a new stake in shares of CSW Industrials in the 4th quarter valued at $29,000. Finally, Valley Wealth Managers Inc. purchased a new stake in shares of CSW Industrials in the 1st quarter valued at $26,000. Hedge funds and other institutional investors own 82.79% of the company's stock.

CSW Industrials Trading Up 2.2%

Shares of CSW opened at $329.84 on Friday. The stock has a market capitalization of $5.37 billion, a P/E ratio of 45.25 and a beta of 0.83. The company has a quick ratio of 1.36, a current ratio of 2.70 and a debt-to-equity ratio of 0.77. The firm has a fifty day simple moving average of $300.33 and a two-hundred day simple moving average of $286.24. CSW Industrials, Inc. has a twelve month low of $230.45 and a twelve month high of $355.48.

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

CSW Industrials Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $1.20 dividend on an annualized basis and a yield of 0.4%. CSW Industrials's dividend payout ratio is presently 16.46%.

Insider Activity at CSW Industrials

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

Analyst Upgrades and Downgrades

CSW has been the topic of several recent research reports. Zacks Research lowered shares of CSW Industrials from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th. JPMorgan Chase & Co. boosted their price target on shares of CSW Industrials from $350.00 to $380.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. Truist Financial upped their price target on shares of 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 company a "neutral" rating in a research note on Monday, August 3rd. Finally, Wells Fargo & Company lifted their price objective on CSW Industrials from $285.00 to $320.00 and gave the stock an "equal weight" rating in a report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $347.57.

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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