Wasatch Advisors LP Boosts Holdings in CSW Industrials, Inc. $CSW

Key Points

• Wasatch Advisors LP boosted its CSW Industrials stake by 31.1% in the first quarter, ending with 873,659 shares worth about $227.7 million. The position now represents roughly 5.3% of the fund’s portfolio and is its 19th largest holding.
• CSW Industrials reported strong quarterly results, with earnings of $3.14 per share beating estimates by $0.80 and revenue rising 34% year over year to $308.96 million. Analysts now expect the company to earn 12.52 per share for the full year.
• The company raised its quarterly dividend to $0.30 per share from $0.27, bringing the annualized payout to $1.20 and the yield to about 0.4%. Despite the increase, the dividend payout ratio remains relatively low at 17.96%.

Wasatch Advisors LP increased its position in CSW Industrials, Inc. (NYSE:CSW - Free Report) by 31.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 873,659 shares of the basic materials company's stock after purchasing an additional 207,186 shares during the period. CSW Industrials makes up approximately 1.5% of Wasatch Advisors LP's holdings, making the stock its 19th biggest position. Wasatch Advisors LP owned 5.30% of CSW Industrials worth $227,658,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. purchased a new position in CSW Industrials in the fourth quarter worth about $515,553,000. Capital World Investors bought a new position in shares of CSW Industrials in the fourth quarter worth approximately $308,934,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of CSW Industrials during the fourth quarter valued at approximately $237,891,000. Morgan Stanley purchased a new stake in shares of CSW Industrials during the fourth quarter valued at approximately $196,549,000. Finally, State Street Corp bought a new stake in shares of CSW Industrials during the fourth quarter valued at approximately $187,169,000. 82.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Luke Alverson sold 1,007 shares of the company's stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $266.11, for a total transaction of $267,972.77. Following the completion of the sale, the senior vice president owned 13,457 shares in the company, valued at approximately $3,581,042.27. This represents a 6.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 completion of the transaction, the executive vice president directly owned 21,567 shares in the company, valued at approximately $6,475,707.42. This represents a 0.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,680 shares of company stock valued at $1,884,758 in the last ninety days. 1.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

CSW Industrials Stock Performance

Shares of CSW stock opened at $282.53 on Friday. The company has a quick ratio of 1.23, a current ratio of 2.60 and a debt-to-equity ratio of 0.80. The company has a 50 day moving average price of $276.92 and a 200-day moving average price of $287.55. CSW Industrials, Inc. has a 52 week low of $230.45 and a 52 week high of $337.02. The firm has a market capitalization of $4.61 billion, a PE ratio of 42.30 and a beta of 0.84.

CSW Industrials (NYSE:CSW - Get Free Report) last issued its quarterly earnings data on Tuesday, May 26th. The basic materials company reported $3.14 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter. The business's revenue for the quarter was up 34.0% compared to the same quarter last year. As a group, equities research analysts expect that CSW Industrials, Inc. will post 12.52 earnings per share for the current year.

CSW Industrials Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, April 24th were paid a dividend of $0.30 per share. The ex-dividend date was Friday, April 24th. This represents a $1.20 dividend on an annualized basis and a yield of 0.4%. This is a boost from CSW Industrials's previous quarterly dividend of $0.27. CSW Industrials's dividend payout ratio (DPR) is presently 17.96%.

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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