Louisiana State Employees Retirement System Takes $1.90 Million Position in CSW Industrials, Inc. $CSW

Key Points

• Louisiana State Employees Retirement System opened a new position in CSW Industrials in the first quarter, buying 7,300 shares valued at about $1.90 million.
• CSW Industrials reported strong quarterly results, with earnings of $3.14 per share beating estimates by $0.80 and revenue rising 34% year over year to $308.96 million.
• The company also raised its quarterly dividend from $0.27 to $0.30 per share, while analysts currently rate the stock a Moderate Buy with an average price target of $328.57.

Louisiana State Employees Retirement System acquired a new position in CSW Industrials, Inc. (NYSE:CSW - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 7,300 shares of the basic materials company's stock, valued at approximately $1,902,000.

A number of other hedge funds also recently bought and sold shares of CSW. Arax Advisory Partners bought a new position in CSW Industrials in the fourth quarter valued at about $28,000. Danske Bank A S bought a new stake in shares of CSW Industrials during the 4th quarter valued at about $29,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of CSW Industrials during the 4th quarter valued at about $31,000. Global Retirement Partners LLC purchased a new stake in shares of CSW Industrials during the 4th quarter valued at about $31,000. Finally, CWM LLC purchased a new stake in shares of CSW Industrials during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 82.79% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CSW shares. Zacks Research raised shares of CSW Industrials from a "hold" rating to a "strong-buy" rating in a report on Monday, June 8th. Weiss Ratings upgraded shares of CSW Industrials from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, May 26th. Wells Fargo & Company lifted 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. Truist Financial reduced their price objective on CSW Industrials from $301.00 to $300.00 and set a "hold" rating for the company in a research note on Wednesday, May 27th. Finally, Citigroup decreased their target price on CSW Industrials from $307.00 to $304.00 and set a "neutral" rating on the stock in a report on Wednesday, May 27th. Three analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $328.57.

Insider Buying and Selling at CSW Industrials

In related news, CEO Joseph B. Armes sold 1,500 shares of the company's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $279.52, for a total transaction of $419,280.00. Following the completion of the transaction, the chief executive officer owned 69,100 shares in the company, valued at approximately $19,314,832. This represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Luke Alverson sold 1,007 shares of the company's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $289.57, for a total transaction of $291,596.99. Following the transaction, the senior vice president owned 12,450 shares of the company's stock, valued at approximately $3,605,146.50. This represents a 7.48% 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 sold a total of 6,680 shares of company stock valued at $1,884,758 in the last three months. 1.30% of the stock is currently owned by corporate insiders.

CSW Industrials Stock Performance

Shares of NYSE CSW opened at $278.53 on Wednesday. The firm has a fifty day moving average price of $276.60 and a 200-day moving average price of $287.05. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.60 and a quick ratio of 1.23. The stock has a market cap of $4.55 billion, a PE ratio of 41.70 and a beta of 0.84. CSW Industrials, Inc. has a 1 year low of $230.45 and a 1 year high of $337.02.

CSW Industrials (NYSE:CSW - Get Free Report) last released its earnings results on Tuesday, May 26th. The basic materials company reported $3.14 earnings per share for the quarter, beating analysts' consensus estimates of $2.34 by $0.80. The company 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%. The business's revenue for the quarter was up 34.0% on a year-over-year basis. Equities analysts anticipate that CSW Industrials, Inc. will post 12.52 earnings per share for the current fiscal year.

CSW Industrials Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, April 24th were issued a dividend of $0.30 per share. This is an increase 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 yield of 0.4%. CSW Industrials's payout ratio is 17.96%.

CSW Industrials 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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