6,765 Shares in CSW Industrials, Inc. $CSW Purchased by Sit Investment Associates Inc.

Key Points

• Sit Investment Associates Inc. invested approximately $1.97 million in CSW Industrials, acquiring 6,765 shares in the first quarter.
• CSW Industrials has seen significant interest from institutional investors, with 82.79% of the company's stock currently owned by institutions.
• The company recently announced a quarterly dividend of $0.27 per share, reflecting an annualized dividend yield of 0.4%.

Sit Investment Associates Inc. purchased a new position in CSW Industrials, Inc. (NYSE:CSW - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 6,765 shares of the basic materials company's stock, valued at approximately $1,972,000.

A number of other large investors also recently made changes to their positions in the business. GAMMA Investing LLC raised its holdings in shares of CSW Industrials by 117.6% during the 1st quarter. GAMMA Investing LLC now owns 296 shares of the basic materials company's stock valued at $86,000 after buying an additional 160 shares during the period. KBC Group NV boosted its stake in CSW Industrials by 19.0% in the first quarter. KBC Group NV now owns 840 shares of the basic materials company's stock valued at $245,000 after acquiring an additional 134 shares during the period. Fifth Third Bancorp grew its stake in CSW Industrials by 9.3% during the 1st quarter. Fifth Third Bancorp now owns 401 shares of the basic materials company's stock worth $117,000 after buying an additional 34 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in CSW Industrials by 13.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 60,449 shares of the basic materials company's stock valued at $17,622,000 after purchasing an additional 7,348 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of CSW Industrials during the fourth quarter worth approximately $18,197,000. Hedge funds and other institutional investors own 82.79% of the company's stock.

Insider Buying and Selling

In other news, EVP Don Sullivan sold 1,067 shares of CSW Industrials stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $283.14, for a total transaction of $302,110.38. Following the completion of the transaction, the executive vice president directly owned 22,641 shares in the company, valued at approximately $6,410,572.74. This trade represents a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $259.36, for a total transaction of $259,360.00. Following the completion of the transaction, the chief executive officer owned 62,522 shares of the company's stock, valued at approximately $16,215,705.92. The trade was a 1.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,676 shares of company stock worth $1,942,668 in the last 90 days. 1.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CSW. Truist Financial set a $273.00 target price on CSW Industrials and gave the company a "hold" rating in a report on Tuesday, August 5th. Citigroup upped their price objective on CSW Industrials from $313.00 to $321.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Finally, Wells Fargo & Company reduced their target price 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 equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $319.75.

CSW Industrials Stock Down 1.4%

CSW traded down $3.74 during midday trading on Thursday, hitting $258.51. The company had a trading volume of 101,187 shares, compared to its average volume of 127,742. The stock's 50 day moving average price is $287.13 and its 200 day moving average price is $298.47. CSW Industrials, Inc. has a 52 week low of $241.99 and a 52 week high of $436.50. The company has a quick ratio of 1.48, a current ratio of 2.86 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $4.34 billion, a price-to-earnings ratio of 30.89 and a beta of 0.91.

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

CSW Industrials Announces Dividend

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

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.