CSW Industrials (NYSE:CSW) Downgraded to Hold Rating by Zacks Research

Zacks Research cut shares of CSW Industrials (NYSE:CSW) from a strong-buy rating to a hold rating in a research report report published on Monday,Zacks.com reports.

Several other research analysts have also recently commented on CSW. Wells Fargo & Company upped their target price on shares of CSW Industrials from $280.00 to $285.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 27th. Citigroup cut their price target on CSW Industrials from $307.00 to $304.00 and set a “neutral” rating on the stock in a report on Wednesday, May 27th. Weiss Ratings downgraded CSW Industrials from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 14th. Finally, Truist Financial increased their price objective on CSW Industrials from $300.00 to $313.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, CSW Industrials currently has an average rating of “Moderate Buy” and a consensus target price of $330.43.

CSW Industrials Stock Performance

Shares of CSW opened at $298.87 on Monday. The firm has a fifty day moving average of $278.13 and a 200-day moving average of $283.61. The company has a market cap of $4.87 billion, a price-to-earnings ratio of 44.74 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 has a 1 year low of $230.45 and a 1 year high of $337.02.

CSW Industrials (NYSE:CSW) last released its quarterly earnings data 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 for the quarter. CSW Industrials had a net margin of 10.35% and a return on equity of 15.91%. The firm’s revenue was up 34.0% on a year-over-year basis. As a group, equities analysts anticipate that CSW Industrials will post 12.52 earnings per share for the current year.

CSW Industrials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Friday, July 31st. CSW Industrials’s dividend payout ratio is currently 17.96%.

Insider Activity

In other CSW Industrials news, SVP Luke Alverson sold 1,007 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $289.57, for a total transaction of $291,596.99. Following the sale, the senior vice president directly owned 12,450 shares in the company, valued at approximately $3,605,146.50. The trade was a 7.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 that occurred on Monday, June 15th. The stock was sold at an average price of $279.52, for a total transaction of $419,280.00. Following the completion of the sale, the chief executive officer directly owned 69,100 shares of the company’s stock, valued at approximately $19,314,832. This represents a 2.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 4,007 shares of company stock worth $1,136,787. 1.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CSW Industrials

Several hedge funds have recently modified their holdings of CSW. Arax Advisory Partners bought a new stake in shares of CSW Industrials in the 4th quarter worth $28,000. Danske Bank A S bought a new position in CSW Industrials during the fourth quarter valued at about $29,000. Valley Wealth Managers Inc. bought a new position in CSW Industrials during the first quarter valued at about $26,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in CSW Industrials during the fourth quarter worth about $31,000. Finally, Global Retirement Partners LLC acquired a new position in CSW Industrials during the fourth quarter worth about $31,000. 82.79% of the stock is currently owned by institutional investors and hedge funds.

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.