Norges Bank Acquires New Shares in CSW Industrials, Inc. $CSW

Key Points

• Norges Bank disclosed a new fourth-quarter stake in CSW Industrials, buying 294,434 shares worth about $86.4 million and owning roughly 1.79% of the company.
• CSW Industrials reported strong quarterly results, with EPS of $3.14 beating estimates by $0.80 and revenue rising 34% year over year to $308.96 million.
• The company also raised its quarterly dividend to $0.30 per share, while analysts currently rate the stock a consensus “Moderate Buy” with an average price target of $328.57.

Norges Bank acquired a new stake in CSW Industrials, Inc. (NYSE:CSW - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 294,434 shares of the basic materials company's stock, valued at approximately $86,425,000. Norges Bank owned about 1.79% of CSW Industrials as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Danske Bank A S acquired a new position in CSW Industrials in the fourth quarter valued at approximately $29,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in CSW Industrials in the fourth quarter valued at approximately $31,000. Global Retirement Partners LLC acquired a new position in CSW Industrials in the fourth quarter valued at approximately $31,000. CWM LLC acquired a new position in CSW Industrials in the fourth quarter valued at approximately $32,000. Finally, Salomon & Ludwin LLC acquired a new position in CSW Industrials in the fourth quarter valued at approximately $36,000. 82.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CSW shares. Wells Fargo & Company upped their price objective on CSW Industrials from $280.00 to $285.00 and gave the company an "equal weight" rating in a report on Wednesday, May 27th. Zacks Research upgraded CSW Industrials from a "strong sell" rating to a "hold" rating in a research note on Friday, May 8th. Weiss Ratings upgraded 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 CSW Industrials in a research note on Tuesday, February 17th. They set an "outperform" rating and a $378.00 price target on the stock. Finally, Truist Financial decreased their price target on CSW Industrials from $301.00 to $300.00 and set a "hold" rating on the stock in a research note on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $328.57.

CSW Industrials Stock Down 1.3%

CSW Industrials stock opened at $266.13 on Friday. CSW Industrials, Inc. has a twelve month low of $230.45 and a twelve month high of $337.02. The stock's fifty day simple moving average is $276.41 and its 200-day simple moving average is $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. The firm has a market capitalization of $4.34 billion, a P/E ratio of 39.84 and a beta of 0.84.

CSW Industrials (NYSE:CSW - Get Free Report) last posted its quarterly earnings data on Tuesday, May 26th. The basic materials company reported $3.14 earnings per share for the quarter, topping analysts' consensus estimates of $2.34 by $0.80. CSW Industrials had a return on equity of 15.91% and a net margin of 10.35%.The business had revenue of $308.96 million for the quarter. The firm's quarterly revenue was up 34.0% compared to the same quarter last year. As a group, equities analysts expect that CSW Industrials, Inc. will post 12.52 earnings per share for the current fiscal year.

CSW Industrials Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Friday, April 24th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.5%. This is a boost from CSW Industrials's previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, April 24th. CSW Industrials's dividend payout ratio is currently 17.96%.

Insiders Place Their Bets

In other CSW Industrials news, Director Darron K. Ash bought 300 shares of the company's stock in a transaction that occurred on Friday, March 13th. The shares were purchased at an average price of $256.62 per share, with a total value of $76,986.00. Following the completion of the acquisition, the director directly owned 1,155 shares of the company's stock, valued at $296,396.10. This represents a 35.09% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Don Sullivan sold 166 shares of the stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $300.26, for a total value of $49,843.16. Following the completion of the transaction, the executive vice president directly owned 21,567 shares in the company, valued at $6,475,707.42. This trade represents a 0.76% 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. Over the last ninety days, insiders sold 5,180 shares of company stock worth $1,465,478. 1.30% of the stock is owned by corporate insiders.

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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