Riverbridge Partners LLC Decreases Stock Holdings in CSW Industrials, Inc. $CSW

Key Points

• Riverbridge Partners cut its CSW Industrials stake by 11.3% in Q1, selling 14,761 shares and leaving it with 115,651 shares worth about $30.1 million.
• Insiders also sold shares, including CEO Joseph B. Armes and EVP Don Sullivan, with total insider sales of 6,680 shares worth $1.88 million in the last quarter.
• CSW Industrials beat quarterly earnings expectations, reporting EPS of $3.14 versus the $2.34 estimate, while revenue rose 34% year over year to $308.96 million.

Riverbridge Partners LLC reduced its holdings in shares of CSW Industrials, Inc. (NYSE:CSW - Free Report) by 11.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 115,651 shares of the basic materials company's stock after selling 14,761 shares during the quarter. Riverbridge Partners LLC owned approximately 0.70% of CSW Industrials worth $30,136,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. purchased a new stake in shares of CSW Industrials during the 4th quarter valued at $515,553,000. Capital World Investors purchased a new position in shares of CSW Industrials in the 4th quarter worth about $308,934,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of CSW Industrials in the 4th quarter worth about $237,891,000. Morgan Stanley bought a new position in CSW Industrials during the fourth quarter valued at about $196,549,000. Finally, Wasatch Advisors LP bought a new position in CSW Industrials during the fourth quarter valued at about $195,630,000. Hedge funds and other institutional investors own 82.79% of the company's stock.

Insiders Place Their Bets

In other news, EVP Don Sullivan sold 166 shares of the stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $300.26, for a total value of $49,843.16. Following the sale, the executive vice president directly owned 21,567 shares of the company's stock, valued at approximately $6,475,707.42. This represents a 0.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 transaction 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 $19,314,832. This trade represents a 2.12% decrease in their ownership of the stock. 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 worth $1,884,758 in the last quarter. 1.30% of the stock is owned by company insiders.

CSW Industrials Trading Down 2.0%

Shares of CSW Industrials stock opened at $268.98 on Wednesday. The stock has a market capitalization of $4.39 billion, a P/E ratio of 40.27 and a beta of 0.84. CSW Industrials, Inc. has a 52-week low of $230.45 and a 52-week high of $337.02. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.23 and a current ratio of 2.60. The stock's 50-day simple moving average is $277.72 and its 200 day simple moving average is $287.84.

CSW Industrials (NYSE:CSW - Get Free Report) last released its quarterly earnings data on Tuesday, May 26th. The basic materials company reported $3.14 EPS for the quarter, topping the consensus estimate of $2.34 by $0.80. CSW Industrials had a net margin of 10.35% and a return on equity of 15.91%. The company had revenue of $308.96 million during the quarter. The firm's revenue was up 34.0% on a year-over-year basis. As a group, research analysts anticipate that CSW Industrials, Inc. will post 12.52 EPS for the current year.

CSW Industrials Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Friday, April 24th were issued a dividend of $0.30 per share. This is a positive change 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 currently 17.96%.

Analysts Set New Price Targets

Several analysts have commented on CSW shares. Zacks Research raised shares of CSW Industrials from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 8th. Wells Fargo & Company increased their target price on shares of CSW Industrials from $280.00 to $285.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 27th. Truist Financial decreased their price target on shares of CSW Industrials from $301.00 to $300.00 and set a "hold" rating for the company in a research note on Wednesday, May 27th. Weiss Ratings upgraded CSW Industrials from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, May 26th. Finally, Citigroup reduced their price objective on CSW Industrials from $307.00 to $304.00 and set a "neutral" rating for the company in a report on Wednesday, May 27th. Three investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, CSW Industrials currently has a consensus rating of "Moderate Buy" and a consensus target price of $328.57.

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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