Riverbridge Partners LLC Lowers Position in CSW Industrials, Inc. $CSW

Riverbridge Partners LLC decreased its holdings in shares of CSW Industrials, Inc. (NYSE:CSW) by 11.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 115,651 shares of the basic materials company’s stock after selling 14,761 shares during the period. Riverbridge Partners LLC’s holdings in CSW Industrials were worth $30,136,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Arax Advisory Partners purchased a new position in CSW Industrials during the fourth quarter worth about $28,000. Danske Bank A S purchased a new stake in shares of CSW Industrials in the 4th quarter valued at about $29,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of CSW Industrials during the 4th quarter valued at about $31,000. Global Retirement Partners LLC bought a new stake in shares of CSW Industrials during the 4th quarter valued at about $31,000. Finally, CWM LLC purchased a new position in shares of CSW Industrials during the fourth quarter worth about $32,000. 82.79% of the stock is currently 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 Friday, May 1st. The shares were sold at an average price of $289.57, for a total transaction of $291,596.99. Following the completion of the sale, the senior vice president directly owned 12,450 shares in the company, valued at $3,605,146.50. This represents a 7.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Joseph B. Armes sold 1,500 shares of the company’s stock in a transaction 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 sale, the chief executive officer owned 69,100 shares of the company’s stock, valued at $19,314,832. This 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. Over the last 90 days, insiders sold 6,680 shares of company stock valued at $1,884,758. 1.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on CSW shares. Truist Financial decreased their price objective on shares of CSW Industrials from $301.00 to $300.00 and set a “hold” rating on the stock in a research report on Wednesday, May 27th. Weiss Ratings upgraded shares of CSW Industrials from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Zacks Research raised shares of CSW Industrials from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 8th. Citigroup decreased their price target on shares of CSW Industrials from $307.00 to $304.00 and set a “neutral” rating on the stock in a report on Wednesday, May 27th. Finally, Wells Fargo & Company raised their price objective 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. Three 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 has an average rating of “Moderate Buy” and a consensus target price of $328.57.

CSW Industrials Stock Down 2.0%

CSW opened at $268.98 on Wednesday. The company has a market cap of $4.39 billion, a P/E ratio of 40.27 and a beta of 0.84. The business’s 50-day moving average price is $277.72 and its 200-day moving average price is $287.84. The company has a current ratio of 2.60, a quick ratio of 1.23 and a debt-to-equity ratio of 0.80. CSW Industrials, Inc. has a 12 month low of $230.45 and a 12 month high of $337.02.

CSW Industrials (NYSE:CSW) last issued its earnings results on Tuesday, May 26th. The basic materials company reported $3.14 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.80. CSW Industrials had a return on equity of 15.91% and a net margin of 10.35%.The company had revenue of $308.96 million during the quarter. The business’s revenue was up 34.0% on a year-over-year basis. On average, equities analysts expect 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. Stockholders of record on Friday, April 24th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.4%. This is a boost from CSW Industrials’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, April 24th. CSW Industrials’s payout ratio is currently 17.96%.

About CSW Industrials

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.