State of New Jersey Common Pension Fund D Takes Position in CSW Industrials, Inc. $CSW

Key Points

• State of New Jersey Common Pension Fund D opened a new position in CSW Industrials, buying 8,970 shares worth about $2.63 million (roughly 0.05% of the company); institutional investors now own about 82.79% of the stock.
• Insider activity was mixed: CEO Joseph B. Armes sold 1,500 shares under a Rule 10b5-1 plan (avg $286.77), while Director Darron K. Ash bought 300 shares (avg $256.62); company insiders net sold 4,180 shares last quarter and hold 1.30% of shares.
• Dividend and analyst view: CSW raised its quarterly dividend to $0.30 (annualized $1.20, 0.4% yield), and analysts' views are mixed with a consensus rating of "Hold" and a $328.43 average price target.

State of New Jersey Common Pension Fund D acquired a new stake in CSW Industrials, Inc. (NYSE:CSW - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 8,970 shares of the basic materials company's stock, valued at approximately $2,633,000. State of New Jersey Common Pension Fund D owned approximately 0.05% of CSW Industrials at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of CSW. CWM LLC acquired a new position in shares of CSW Industrials in the 4th quarter valued at about $32,000. Salomon & Ludwin LLC acquired a new position in shares of CSW Industrials in the 4th quarter valued at about $36,000. GAMMA Investing LLC acquired a new position in shares of CSW Industrials in the 4th quarter valued at about $50,000. Blue Trust Inc. acquired a new position in shares of CSW Industrials in the 4th quarter valued at about $57,000. Finally, Whittier Trust Co. acquired a new position in shares of CSW Industrials in the 4th quarter valued at about $64,000. 82.79% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other CSW Industrials news, CEO Joseph B. Armes sold 1,500 shares of the company's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $286.77, for a total value of $430,155.00. Following the transaction, the chief executive officer directly owned 84,494 shares of the company's stock, valued at $24,230,344.38. This represents a 1.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Darron K. Ash bought 300 shares of the business's stock in a transaction on Friday, March 13th. The stock was acquired at an average cost of $256.62 per share, for a total transaction of $76,986.00. Following the completion of the transaction, the director owned 1,155 shares in the company, valued at $296,396.10. This represents a 35.09% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders sold 4,180 shares of company stock valued at $1,197,578. Company insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CSW. Zacks Research lowered CSW Industrials from a "hold" rating to a "strong sell" rating in a research note on Friday, February 6th. Wells Fargo & Company reduced their price objective on CSW Industrials from $300.00 to $280.00 and set an "equal weight" rating on the stock in a research note on Monday, February 2nd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of CSW Industrials in a research note on Wednesday, April 29th. Citigroup reduced their price objective on CSW Industrials from $333.00 to $307.00 and set a "neutral" rating on the stock in a research note on Friday, January 30th. Finally, Robert W. Baird initiated coverage on CSW Industrials in a research report on Tuesday, February 17th. They set an "outperform" rating and a $378.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, CSW Industrials currently has a consensus rating of "Hold" and a consensus target price of $328.43.

CSW Industrials Stock Performance

CSW Industrials stock opened at $274.83 on Wednesday. The stock's 50 day moving average price is $277.58 and its 200 day moving average price is $282.95. The firm has a market capitalization of $4.53 billion, a PE ratio of 36.45 and a beta of 0.88. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.97 and a current ratio of 2.36. CSW Industrials, Inc. has a one year low of $230.45 and a one year high of $338.90.

CSW Industrials Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Friday, April 24th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, April 24th. This is a positive change from CSW Industrials's previous quarterly dividend of $0.27. CSW Industrials's dividend payout ratio is currently 15.92%.

CSW Industrials Company 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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