Norges Bank Buys New Stake in CSW Industrials, Inc. $CSW

Norges Bank bought a new stake in CSW Industrials, Inc. (NYSE:CSW) during the 4th quarter, Holdings Channel reports. The institutional investor bought 294,434 shares of the basic materials company’s stock, valued at approximately $86,425,000.

Several other large investors have also recently bought and sold shares of CSW. Nicholas Company Inc. bought a new stake in shares of CSW Industrials in the 4th quarter worth about $3,290,000. B. Metzler seel. Sohn & Co. AG bought a new stake in shares of CSW Industrials in the 4th quarter worth about $3,635,000. 1900 Wealth Management LLC bought a new stake in shares of CSW Industrials in the 4th quarter worth about $5,363,000. Jacobson & Schmitt Advisors LLC bought a new stake in shares of CSW Industrials in the 4th quarter worth about $18,341,000. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of CSW Industrials in the 4th quarter worth about $2,359,000. Hedge funds and other institutional investors own 82.79% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CSW shares. Truist Financial lowered their target price on shares of CSW Industrials from $301.00 to $300.00 and set a “hold” rating for the company in a report on Wednesday, May 27th. Wells Fargo & Company raised their target price on shares of CSW Industrials from $280.00 to $285.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 27th. Zacks Research upgraded shares of CSW Industrials from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. Weiss Ratings upgraded shares of CSW Industrials from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Finally, Citigroup decreased their price objective on shares of CSW Industrials from $307.00 to $304.00 and set a “neutral” rating for the company in a report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $328.57.

Insider Activity at CSW Industrials

In related news, Director Darron K. Ash bought 300 shares of the company’s stock in a transaction on Friday, March 13th. The shares were bought at an average price of $256.62 per share, with a total value of $76,986.00. Following the transaction, the director owned 1,155 shares in the company, valued at approximately $296,396.10. This trade represents a 35.09% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joseph B. Armes sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $283.94, for a total transaction of $425,910.00. Following the sale, the chief executive officer directly owned 70,600 shares in the company, valued at approximately $20,046,164. This represents a 2.08% 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. Insiders sold a total of 5,180 shares of company stock worth $1,465,478 in the last quarter. 1.30% of the stock is currently owned by company insiders.

CSW Industrials Stock Down 1.3%

Shares of CSW Industrials stock opened at $266.13 on Friday. The firm’s 50 day moving average price is $276.41 and its 200-day moving average price is $286.83. The company has a quick ratio of 1.23, a current ratio of 2.60 and a debt-to-equity ratio of 0.80. CSW Industrials, Inc. has a 52-week low of $230.45 and a 52-week high of $337.02. The company has a market cap of $4.34 billion, a P/E ratio of 39.84 and a beta of 0.84.

CSW Industrials (NYSE:CSW) last issued its quarterly earnings data on Tuesday, May 26th. The basic materials company reported $3.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.80. CSW Industrials had a net margin of 10.35% and a return on equity of 15.91%. The firm had revenue of $308.96 million for the quarter. The firm’s quarterly revenue was up 34.0% on a year-over-year basis. On average, sell-side analysts predict that CSW Industrials, Inc. will post 12.52 EPS for the current fiscal year.

CSW Industrials Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, April 24th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, April 24th. This represents a $1.20 annualized dividend and a yield of 0.5%. This is a boost from CSW Industrials’s previous quarterly dividend of $0.27. CSW Industrials’s payout ratio is presently 17.96%.

CSW Industrials 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.