Legal & General Group Plc purchased a new stake in shares of CSW Industrials, Inc. (NYSE:CSW - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 36,611 shares of the basic materials company's stock, valued at approximately $10,191,000. Legal & General Group Plc owned 0.22% of CSW Industrials as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of CSW. Nicholas Company Inc. bought a new position in shares of CSW Industrials in the fourth quarter worth approximately $3,290,000. Mawer Investment Management Ltd. bought a new stake in CSW Industrials during the 4th quarter valued at $4,454,000. LRT Capital Management LLC bought a new stake in CSW Industrials during the 4th quarter valued at $1,550,000. Norges Bank bought a new stake in CSW Industrials during the 4th quarter valued at $86,425,000. Finally, Fifth Third Bancorp boosted its position in CSW Industrials by 19,565.8% during the 1st quarter. Fifth Third Bancorp now owns 81,023 shares of the basic materials company's stock valued at $21,113,000 after buying an additional 80,611 shares during the period. 82.79% of the stock is owned by institutional investors.
CSW Industrials Stock Down 3.0%
Shares of CSW Industrials stock opened at $308.87 on Tuesday. The company has a current ratio of 2.70, a quick ratio of 1.36 and a debt-to-equity ratio of 0.77. CSW Industrials, Inc. has a 12-month low of $230.45 and a 12-month high of $355.48. The company has a market cap of $5.03 billion, a P/E ratio of 42.37 and a beta of 0.83. The company's fifty day simple moving average is $305.68 and its two-hundred day simple moving average is $287.86.
CSW Industrials (NYSE:CSW - Get Free Report) last posted its earnings results on Thursday, July 30th. The basic materials company reported $3.84 EPS for the quarter, topping the consensus estimate of $3.66 by $0.18. The firm had revenue of $350.65 million during the quarter. CSW Industrials had a net margin of 10.34% and a return on equity of 17.41%. The firm's revenue for the quarter was up 33.0% on a year-over-year basis. Research analysts anticipate that CSW Industrials, Inc. will post 12.77 EPS for the current year.
CSW Industrials Dividend Announcement
The company also recently disclosed 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. This represents a $1.20 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Friday, July 31st. CSW Industrials's payout ratio is presently 16.46%.
Wall Street Analysts Forecast Growth
CSW has been the topic of a number of analyst reports. Weiss Ratings upgraded shares of CSW Industrials from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. increased their target price on shares of CSW Industrials from $350.00 to $380.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. Truist Financial raised their target price on CSW Industrials from $313.00 to $332.00 and gave the stock a "hold" rating in a research note on Monday, August 3rd. Citigroup boosted their price target on CSW Industrials from $304.00 to $340.00 and gave the company a "neutral" rating in a report on Monday, August 3rd. Finally, Wells Fargo & Company upped their price target on CSW Industrials from $285.00 to $320.00 and gave the company an "equal weight" rating in a research report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $347.57.
Get Our Latest Stock Analysis on CSW Industrials
Insider Activity at CSW Industrials
In other news, EVP Jeff Underwood sold 720 shares of the 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 completion of the transaction, the executive vice president owned 6,409 shares of the company's stock, valued at approximately $2,223,666.64. This represents a 10.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joseph B. Armes sold 1,500 shares of the firm'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 completion of the transaction, the chief executive officer owned 69,100 shares of the company's stock, valued at approximately $19,314,832. The trade was a 2.12% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.20% of the company's stock.
CSW Industrials Company Profile
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Free Report)
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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