CSW Industrials, Inc. (NYSE:CSW) Shares Sold by King Luther Capital Management Corp

Key Points

• King Luther Capital Management Corp reduced its stake in CSW Industrials by 64.9%, owning 5,115 shares valued at approximately $1.49 million as of the latest SEC filing.
• CSW Industrials reported earnings of $2.85 per share, exceeding analyst expectations of $2.62, with a revenue of $263.65 million for the quarter.
• The company announced a quarterly dividend of $0.27 per share, representing an annualized dividend yield of 0.4% and a payout ratio of 12.90%.

King Luther Capital Management Corp decreased its position in shares of CSW Industrials, Inc. (NYSE:CSW - Free Report) by 64.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,115 shares of the basic materials company's stock after selling 9,443 shares during the period. King Luther Capital Management Corp's holdings in CSW Industrials were worth $1,491,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. GAMMA Investing LLC lifted its holdings in shares of CSW Industrials by 63,348.5% during the 1st quarter. GAMMA Investing LLC now owns 86,290 shares of the basic materials company's stock valued at $25,155,000 after buying an additional 86,154 shares during the period. Federated Hermes Inc. increased its stake in CSW Industrials by 1,539.2% in the 1st quarter. Federated Hermes Inc. now owns 68,766 shares of the basic materials company's stock worth $20,047,000 after buying an additional 64,571 shares during the period. Raymond James Financial Inc. bought a new stake in shares of CSW Industrials during the fourth quarter valued at approximately $18,197,000. Fiera Capital Corp bought a new position in CSW Industrials in the first quarter worth approximately $13,756,000. Finally, Conestoga Capital Advisors LLC grew its holdings in shares of CSW Industrials by 5.1% during the first quarter. Conestoga Capital Advisors LLC now owns 603,277 shares of the basic materials company's stock valued at $175,867,000 after buying an additional 29,285 shares during the last quarter. Hedge funds and other institutional investors own 82.79% of the company's stock.

CSW Industrials Stock Down 2.4%

CSW stock traded down $6.46 during midday trading on Friday, hitting $259.45. The company's stock had a trading volume of 152,903 shares, compared to its average volume of 186,073. 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, Inc. has a 52-week low of $241.99 and a 52-week high of $436.50. The firm has a market capitalization of $4.36 billion, a P/E ratio of 31.00 and a beta of 0.91. The firm has a 50-day simple moving average of $289.69 and a 200-day simple moving average of $299.95.

CSW Industrials (NYSE:CSW - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The basic materials company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.62 by $0.23. CSW Industrials had a net margin of 15.18% and a return on equity of 13.78%. The company had revenue of $263.65 million during the quarter, compared to analysts' expectations of $278.27 million. As a group, equities analysts forecast 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 was paid on Friday, August 8th. Investors of record on Friday, July 25th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.4%. CSW Industrials's dividend payout ratio is currently 12.90%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Truist Financial set a $273.00 price target on shares of CSW Industrials and gave the company a "hold" rating in a report on Tuesday, August 5th. Citigroup upped their price target on shares of CSW Industrials from $313.00 to $321.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Finally, Wells Fargo & Company cut their price objective 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. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $319.75.

Insider Activity

In related news, CEO Joseph B. Armes sold 1,000 shares of the business's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $294.92, for a total transaction of $294,920.00. Following the sale, the chief executive officer owned 63,522 shares of the company's stock, valued at approximately $18,733,908.24. The trade was a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Luke Alverson sold 919 shares of CSW Industrials stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $305.49, for a total transaction of $280,745.31. Following the transaction, the senior vice president owned 13,434 shares of the company's stock, valued at approximately $4,103,952.66. The trade was a 6.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,609 shares of company stock worth $1,381,198 over the last three months. Company insiders own 1.30% of the company's stock.

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.