The Manufacturers Life Insurance Company Makes New $2.43 Million Investment in CSW Industrials, Inc. $CSW

The Manufacturers Life Insurance Company purchased a new stake in CSW Industrials, Inc. (NYSE:CSW) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 8,738 shares of the basic materials company’s stock, valued at approximately $2,432,000.

A number of other large investors also recently made changes to their positions in CSW. Valley Wealth Managers Inc. acquired a new stake in shares of CSW Industrials during the first quarter worth $26,000. Arax Advisory Partners acquired a new position in CSW Industrials in the fourth quarter valued at $28,000. Danske Bank A S acquired a new position in CSW Industrials in the fourth quarter valued at $29,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in CSW Industrials during the second quarter worth about $29,000. Finally, Global Retirement Partners LLC purchased a new position in CSW Industrials during the second quarter worth about $31,000. Hedge funds and other institutional investors own 82.79% of the company’s stock.

CSW Industrials Price Performance

Shares of CSW Industrials stock opened at $302.35 on Thursday. CSW Industrials, Inc. has a twelve month low of $230.45 and a twelve month high of $355.48. The stock has a market capitalization of $4.93 billion, a P/E ratio of 41.47 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. The business’s fifty day moving average price is $306.74 and its 200 day moving average price is $287.63.

CSW Industrials (NYSE:CSW) last announced its quarterly earnings results on Thursday, July 30th. The basic materials company reported $3.84 EPS for the quarter, topping the consensus estimate of $3.66 by $0.18. The company had revenue of $350.65 million during the quarter. CSW Industrials had a return on equity of 17.41% and a net margin of 10.34%.The business’s revenue was up 33.0% compared to the same quarter last year. As a group, research analysts anticipate that CSW Industrials, Inc. will post 12.77 earnings per share for the current year.

CSW Industrials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a dividend of $0.30 per share. The ex-dividend date was Friday, July 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.4%. CSW Industrials’s payout ratio is presently 16.46%.

Analysts Set New Price Targets

Several analysts have commented on the company. Truist Financial lifted their price target on CSW Industrials from $313.00 to $332.00 and gave the company a “hold” rating in a report on Monday, August 3rd. Citigroup increased their price objective on shares of CSW Industrials from $304.00 to $340.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Zacks Research cut shares of CSW Industrials from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Wells Fargo & Company boosted their target price on shares of CSW Industrials from $285.00 to $320.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. Finally, JPMorgan Chase & Co. upped their price target on shares of CSW Industrials from $350.00 to $380.00 and gave the stock an “overweight” rating in a research report 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 given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $347.57.

Insider Buying and Selling

In other CSW Industrials news, CEO Joseph B. Armes sold 1,500 shares of CSW Industrials stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 69,100 shares of the company’s stock, valued at $19,314,832. The trade was a 2.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jeff Underwood sold 720 shares of CSW Industrials stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $346.96, for a total transaction of $249,811.20. Following the transaction, the executive vice president directly owned 6,409 shares in the company, valued at approximately $2,223,666.64. This trade represents a 10.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.20% of the stock is currently owned by corporate 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.