Price T Rowe Associates Inc. MD Sells 17,579 Shares of CSW Industrials, Inc. $CSW

Key Points

• Price T Rowe Associates Inc. reduced its stake in CSW Industrials by 8.5%, selling 17,579 shares during the first quarter, now holding approximately 1.13% of the company valued at $55.26 million.
• Other hedge funds significantly increased their investments, with Mitsubishi UFJ Asset Management boosting its stake by 517.6% and Versant Capital by 526.3% in the same period.
• CSW Industrials declared a quarterly dividend of $0.27 per share, with a dividend yield of 0.4%, while insiders have sold a total of 4,757 shares worth $1.35 million over the last three months.

Price T Rowe Associates Inc. MD cut its stake in shares of CSW Industrials, Inc. (NYSE:CSW - Free Report) by 8.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 189,557 shares of the basic materials company's stock after selling 17,579 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 1.13% of CSW Industrials worth $55,261,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CSW. GAMMA Investing LLC lifted its holdings in CSW Industrials by 63,348.5% in the 1st quarter. GAMMA Investing LLC now owns 86,290 shares of the basic materials company's stock worth $25,155,000 after purchasing an additional 86,154 shares in the last quarter. Nuveen LLC purchased a new position in CSW Industrials in the 1st quarter worth approximately $24,711,000. Federated Hermes Inc. lifted its holdings 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 purchasing an additional 64,571 shares in the last quarter. Fiera Capital Corp purchased a new position in CSW Industrials in the 1st quarter worth approximately $13,756,000. Finally, Conestoga Capital Advisors LLC lifted its holdings in CSW Industrials by 5.1% in the 1st quarter. Conestoga Capital Advisors LLC now owns 603,277 shares of the basic materials company's stock worth $175,867,000 after purchasing an additional 29,285 shares in the last quarter. 82.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Citigroup boosted their price target on CSW Industrials from $313.00 to $321.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Truist Financial set a $273.00 price target on CSW Industrials and gave the stock a "hold" rating in a report on Tuesday, August 5th. Finally, Wells Fargo & Company decreased their price objective on CSW Industrials from $305.00 to $285.00 and set an "equal weight" rating on the stock in a report on Friday, August 1st. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat, CSW Industrials has an average rating of "Hold" and an average price target of $319.75.

CSW Industrials Price Performance

Shares of CSW traded up $1.15 during mid-day trading on Friday, hitting $274.28. 158,318 shares of the stock were exchanged, compared to its average volume of 191,112. The company has a market cap of $4.61 billion, a PE ratio of 32.77 and a beta of 0.91. CSW Industrials, Inc. has a 52-week low of $241.99 and a 52-week high of $436.50. The firm has a 50-day moving average of $282.06 and a two-hundred day moving average of $295.66. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.48 and a current ratio of 2.86.

CSW Industrials (NYSE:CSW - Get Free Report) last released its earnings results on Thursday, July 31st. The basic materials company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.23. The firm had revenue of $263.65 million for the quarter, compared to the consensus estimate of $278.27 million. CSW Industrials had a return on equity of 13.78% and a net margin of 15.18%. On average, equities analysts predict that CSW Industrials, Inc. will post 8.49 earnings per share for the current year.

CSW Industrials Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Friday, July 25th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.4%. CSW Industrials's dividend payout ratio is currently 12.90%.

Insider Buying and Selling

In other news, Director Robert M. Swartz sold 200 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $301.38, for a total transaction of $60,276.00. Following the transaction, the director owned 12,719 shares of the company's stock, valued at approximately $3,833,252.22. The trade was a 1.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Joseph B. Armes sold 1,000 shares of the business's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $259.36, for a total value of $259,360.00. Following the transaction, the chief executive officer directly owned 62,522 shares in the company, valued at approximately $16,215,705.92. This represents a 1.57% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,757 shares of company stock worth $1,351,753. 1.30% of the stock is owned by company insiders.

CSW Industrials 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.