CSW Industrials (NYSE:CSW) Hits New 1-Year High After Analyst Upgrade

CSW Industrials, Inc. (NYSE:CSW)’s stock price hit a new 52-week high during trading on Monday after Truist Financial raised their price target on the stock from $313.00 to $332.00. Truist Financial currently has a hold rating on the stock. CSW Industrials traded as high as $337.50 and last traded at $337.31, with a volume of 26455 shares traded. The stock had previously closed at $318.93.

Other equities analysts have also issued reports about the company. Weiss Ratings lowered CSW Industrials from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, July 14th. Zacks Research downgraded shares of CSW Industrials from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. JPMorgan Chase & Co. boosted their price objective on shares of CSW Industrials from $350.00 to $380.00 and gave the company an “overweight” rating in a research report on Friday. Citigroup reaffirmed a “neutral” rating on shares of CSW Industrials in a report on Monday. Finally, Wells Fargo & Company upped their target price on CSW Industrials from $285.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, CSW Industrials has a consensus rating of “Moderate Buy” and an average price target of $342.43.

Insider Activity at CSW Industrials

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 transaction of $419,280.00. Following the completion of the transaction, the chief executive officer directly owned 69,100 shares in the company, valued at $19,314,832. This represents a 2.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CSW Industrials

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nicholas Company Inc. bought a new stake in CSW Industrials during the 4th quarter worth about $3,290,000. Mawer Investment Management Ltd. acquired a new stake in shares of CSW Industrials during the fourth quarter worth $4,454,000. B. Metzler seel. Sohn & Co. AG acquired a new position in shares of CSW Industrials during the fourth quarter worth about $3,635,000. LRT Capital Management LLC bought a new position in shares of CSW Industrials during the 4th quarter worth approximately $1,550,000. Finally, Norges Bank bought a new position in CSW Industrials in the fourth quarter valued at $86,425,000. 82.79% of the stock is currently owned by institutional investors and hedge funds.

CSW Industrials Trading Up 6.5%

The business has a 50 day moving average price of $280.16 and a 200-day moving average price of $283.22. The company has a market cap of $5.53 billion, a P/E ratio of 46.47 and a beta of 0.83. The company has a current ratio of 2.70, a quick ratio of 1.36 and a debt-to-equity ratio of 0.77.

CSW Industrials (NYSE:CSW) last released its quarterly earnings data on Thursday, July 30th. The basic materials company reported $3.84 EPS for the quarter, topping analysts’ consensus estimates of $3.66 by $0.18. CSW Industrials had a net margin of 10.34% and a return on equity of 17.41%. The firm had revenue of $350.65 million during the quarter. The firm’s revenue for the quarter was up 33.0% compared to the same quarter last year. Analysts forecast that CSW Industrials, Inc. will post 12.52 earnings per share for the current fiscal year.

CSW Industrials Announces Dividend

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

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.