Oppenheimer Asset Management Inc. Buys New Position in CSW Industrials, Inc. $CSW

Oppenheimer Asset Management Inc. bought a new position in shares of CSW Industrials, Inc. (NYSE:CSW) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 14,518 shares of the basic materials company’s stock, valued at approximately $4,040,000. Oppenheimer Asset Management Inc. owned 0.09% of CSW Industrials as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CSW. Walleye Capital LLC bought a new position in shares of CSW Industrials during the 2nd quarter valued at about $1,373,000. Handelsbanken Fonder AB grew its stake in shares of CSW Industrials by 14.8% in the 2nd quarter. Handelsbanken Fonder AB now owns 5,589 shares of the basic materials company’s stock worth $1,555,000 after purchasing an additional 720 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of CSW Industrials by 135.3% in the 1st quarter. Pacer Advisors Inc. now owns 819 shares of the basic materials company’s stock worth $213,000 after purchasing an additional 471 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of CSW Industrials by 25.2% in the 1st quarter. Empowered Funds LLC now owns 2,091 shares of the basic materials company’s stock worth $545,000 after purchasing an additional 421 shares in the last quarter. Finally, Glenmede Trust Co. NA raised its holdings in shares of CSW Industrials by 9.7% in the 1st quarter. Glenmede Trust Co. NA now owns 6,382 shares of the basic materials company’s stock worth $1,663,000 after purchasing an additional 566 shares in the last quarter. 82.79% of the stock is currently owned by institutional investors.

CSW Industrials Trading Up 0.6%

Shares of NYSE CSW opened at $345.05 on Friday. The stock has a market cap of $5.62 billion, a price-to-earnings ratio of 47.33 and a beta of 0.83. The business has a 50 day simple moving average of $294.44 and a 200 day simple moving average of $284.99. CSW Industrials, Inc. has a 52 week low of $230.45 and a 52 week high of $355.48. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.36 and a current ratio of 2.70.

CSW Industrials (NYSE:CSW) last issued its quarterly earnings data on Thursday, July 30th. The basic materials company reported $3.84 earnings per share for the quarter, beating the consensus estimate of $3.66 by $0.18. The firm 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 firm’s revenue was up 33.0% compared to the same quarter last year. On average, research analysts predict that CSW Industrials, Inc. will post 12.77 earnings per share for the current fiscal year.

CSW Industrials Dividend Announcement

The firm also recently declared 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 0.3%. CSW Industrials’s dividend payout ratio (DPR) is currently 16.46%.

Analyst Ratings Changes

A number of brokerages recently weighed in on CSW. Weiss Ratings upgraded shares of CSW Industrials from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 3rd. Truist Financial boosted their target price on CSW Industrials from $313.00 to $332.00 and gave the stock a “hold” rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. upped their price target 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 price objective on shares of CSW Industrials from $285.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Friday, July 31st. Finally, Citigroup lifted their price objective on shares of CSW Industrials from $304.00 to $340.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $347.57.

Insiders Place Their Bets

In related news, 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 value of $419,280.00. Following the completion of the sale, the chief executive officer directly owned 69,100 shares in the company, valued at approximately $19,314,832. This represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jeff Underwood sold 720 shares of the stock in a transaction on Monday, August 10th. The stock was 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 $2,223,666.64. The trade was a 10.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,720 shares of company stock worth $1,095,001 in the last 90 days. 1.20% of the stock is owned by insiders.

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.