Key Points
- CEO Joseph Armes sold 1,500 CSW Industrials shares at an average price of $289.58, for total proceeds of $434,370. The sale, conducted under a pre-arranged Rule 10b5-1 plan, reduced his ownership by 2.34% to 62,736 shares.
- CSW Industrials reported quarterly earnings of $3.84 per share, beating estimates of $3.66, while revenue rose 33% year over year to $350.65 million. Analysts expect approximately $12.77 in earnings per share for the current fiscal year.
- The company pays a quarterly dividend of $0.30 per share, equivalent to a $1.20 annualized payout and a 0.4% yield. Wall Street maintains a “Moderate Buy” consensus rating with an average price target of $347.57.
CSW Industrials, Inc. (NYSE:CSW - Get Free Report) CEO Joseph Armes sold 1,500 shares of CSW Industrials stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $289.58, for a total value of $434,370.00. Following the sale, the chief executive officer owned 62,736 shares in the company, valued at $18,167,090.88. This represents a 2.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
CSW Industrials Stock Performance
Shares of CSW opened at $288.22 on Thursday. The business's 50 day moving average is $311.01 and its two-hundred day moving average is $287.25. CSW Industrials, Inc. has a 52-week low of $230.45 and a 52-week high of $355.48. The firm has a market cap of $4.70 billion, a price-to-earnings ratio of 39.54 and a beta of 0.81. The company has a quick ratio of 1.36, a current ratio of 2.70 and a debt-to-equity ratio of 0.77.
CSW Industrials (NYSE:CSW - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The basic materials company reported $3.84 earnings per share for the quarter, topping analysts' consensus estimates of $3.66 by $0.18. The business had revenue of $350.65 million during the quarter. CSW Industrials had a net margin of 10.34% and a return on equity of 17.41%. CSW Industrials's quarterly revenue was up 33.0% compared to the same quarter last year. Analysts forecast that CSW Industrials, Inc. will post 12.77 EPS for the current fiscal year.
CSW Industrials Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Friday, July 31st. CSW Industrials's dividend payout ratio (DPR) is currently 16.46%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on the stock. Zacks Research downgraded shares of CSW Industrials from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. Weiss Ratings raised shares of CSW Industrials from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. lifted their price target on CSW Industrials from $350.00 to $380.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. Truist Financial boosted their price objective on CSW Industrials from $313.00 to $332.00 and gave the company a "hold" rating in a report on Monday, August 3rd. Finally, Wells Fargo & Company upped their price objective on CSW Industrials from $285.00 to $320.00 and gave the company an "equal weight" rating in a research note on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $347.57.
Read Our Latest Report on CSW
Institutional Trading of CSW Industrials
Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in CSW Industrials during the 2nd quarter valued at about $686,462,000. Capital World Investors acquired a new stake in shares of CSW Industrials in the fourth quarter valued at approximately $308,934,000. Geode Capital Management LLC acquired a new stake in shares of CSW Industrials in the fourth quarter valued at approximately $115,318,000. Norges Bank acquired a new stake in shares of CSW Industrials in the fourth quarter valued at approximately $86,425,000. Finally, First Manhattan CO. LLC. bought a new stake in shares of CSW Industrials during the fourth quarter valued at approximately $80,257,000. Institutional investors own 82.79% of the company's stock.
About CSW Industrials
(
Get Free Report)
CSW Industrials, Inc is a diversified industrial company that develops, manufactures and sells specialized products serving the building, construction, industrial and energy markets. Its offerings are sold under a portfolio of established brands and are designed for applications including heating, ventilation and air conditioning, refrigeration, plumbing, electrical systems and building safety.
The company operates through three primary business segments: Contractor Solutions, Specialized Reliability Solutions and Engineered Building Solutions.
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