CSW Industrials (NYSE:CSW) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of CSW Industrials (NYSE:CSW) from a buy rating to a hold rating in a research report sent to investors on Sunday morning,Wall Street Zen reports.

CSW has been the subject of a number of other reports. Truist Financial upped their price objective on shares of CSW Industrials from $313.00 to $332.00 and gave the stock a “hold” rating in a research note on Monday, August 3rd. JPMorgan Chase & Co. raised their target price on shares of CSW Industrials from $350.00 to $380.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Wells Fargo & Company raised their target price on shares of CSW Industrials from $285.00 to $320.00 and gave the company an “equal weight” rating in a research report on Friday, July 31st. Weiss Ratings upgraded shares of CSW Industrials from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 3rd. Finally, Zacks Research lowered shares of CSW Industrials from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $347.57.

CSW Industrials Stock Up 0.9%

NYSE:CSW opened at $289.91 on Friday. CSW Industrials has a twelve month low of $236.66 and a twelve month high of $355.48. The stock has a fifty day simple moving average of $304.43 and a 200-day simple moving average of $291.72. The company has a market cap of $4.72 billion, a price-to-earnings ratio of 25.29 and a beta of 0.81. The company has a current ratio of 2.70, a quick ratio of 1.36 and a debt-to-equity ratio of 0.77.

CSW Industrials (NYSE:CSW) last issued its earnings results on Thursday, July 30th. The basic materials company reported $3.84 EPS for the quarter, topping analysts’ consensus estimates of $3.66 by $0.18. The business had revenue of $350.65 million for the quarter. CSW Industrials had a net margin of 10.34% and a return on equity of 17.41%. The business’s quarterly revenue was up 33.0% on a year-over-year basis. Analysts anticipate that CSW Industrials will post 12.53 EPS for the current year.

CSW Industrials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, October 30th. This represents a $1.20 annualized dividend and a dividend yield of 0.4%. CSW Industrials’s dividend payout ratio is 16.46%.

Insiders Place Their Bets

In other news, EVP Jeff Underwood sold 720 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $346.96, for a total value of $249,811.20. Following the completion of the transaction, the executive vice president directly owned 6,409 shares in the company, valued at $2,223,666.64. This trade represents a 10.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Joseph Armes sold 1,500 shares of the stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $287.04, for a total transaction of $430,560.00. Following the completion of the transaction, the chief executive officer owned 64,083 shares in the company, valued at approximately $18,394,384.32. This trade represents a 2.29% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 3,720 shares of company stock valued at $1,114,741. Corporate insiders own 1.20% of the company’s stock.

Institutional Trading of CSW Industrials

Several large investors have recently made changes to their positions in the business. GAMMA Investing LLC boosted its position in CSW Industrials by 96.5% during the third quarter. GAMMA Investing LLC now owns 1,293 shares of the basic materials company’s stock worth $372,000 after purchasing an additional 635 shares in the last quarter. Congress Asset Management Co. increased its position in shares of CSW Industrials by 0.4% in the third quarter. Congress Asset Management Co. now owns 301,580 shares of the basic materials company’s stock valued at $86,879,000 after buying an additional 1,074 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of CSW Industrials by 10.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 3,534 shares of the basic materials company’s stock valued at $984,000 after buying an additional 320 shares in the last quarter. Tidal Investments LLC lifted its holdings in CSW Industrials by 30.9% during the second quarter. Tidal Investments LLC now owns 56,251 shares of the basic materials company’s stock valued at $15,655,000 after purchasing an additional 13,287 shares in the last quarter. Finally, Engineers Gate Manager LP purchased a new position in CSW Industrials in the 2nd quarter valued at about $429,000. 82.79% of the stock is owned by hedge funds and other institutional investors.

About CSW Industrials

CSW Industrials, Inc (NYSE: CSW) is a diversified industrial company that develops, manufactures and sells products designed for professional trades, commercial and residential construction, and industrial maintenance applications. Its offerings are marketed primarily through established brands and distribution channels serving contractors, building professionals and industrial customers.

The company operates through three principal segments: Contractor Solutions, Engineered Building Solutions and Specialized Reliability Solutions.