Sit Investment Associates Inc. Invests $1.99 Million in CSW Industrials, Inc. $CSW

Sit Investment Associates Inc. acquired a new stake in shares of CSW Industrials, Inc. (NYSE:CSW) in the 4th quarter, Holdings Channel reports. The firm acquired 6,765 shares of the basic materials company’s stock, valued at approximately $1,986,000.

Several other institutional investors have also modified their holdings of the stock. Sanctuary Advisors LLC lifted its position in CSW Industrials by 8.1% in the fourth quarter. Sanctuary Advisors LLC now owns 984 shares of the basic materials company’s stock worth $289,000 after buying an additional 74 shares during the last quarter. Arax Advisory Partners purchased a new stake in CSW Industrials in the 4th quarter valued at about $28,000. Danske Bank A S bought a new position in CSW Industrials in the fourth quarter worth approximately $29,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in CSW Industrials during the 4th quarter worth about $31,000. Finally, Global Retirement Partners LLC purchased a new position in CSW Industrials during the fourth quarter valued at approximately $31,000. 82.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

CSW Industrials Trading Down 0.1%

CSW opened at $279.74 on Friday. CSW Industrials, Inc. has a one year low of $230.45 and a one year high of $337.02. The business’s 50 day moving average price is $278.43 and its 200 day moving average price is $287.99. The stock has a market capitalization of $4.57 billion, a PE ratio of 41.88 and a beta of 0.84. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.23 and a current ratio of 2.60.

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

CSW Industrials Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Friday, April 24th were given a dividend of $0.30 per share. This is an increase from CSW Industrials’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Friday, April 24th. CSW Industrials’s dividend payout ratio (DPR) is 17.96%.

Insider Activity at CSW Industrials

In other CSW Industrials news, CEO Joseph B. Armes sold 1,500 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $279.52, for a total value of $419,280.00. Following the completion of the transaction, the chief executive officer owned 69,100 shares in the company, valued at $19,314,832. The trade was a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 business’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $300.26, for a total value of $49,843.16. Following the transaction, the executive vice president directly owned 21,567 shares of the company’s stock, valued at $6,475,707.42. The trade was a 0.76% 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 6,680 shares of company stock worth $1,884,758 in the last three months. 1.30% of the stock is owned by company insiders.

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.