CSW Industrials, Inc. (NASDAQ:CSWI) to Issue $0.24 Quarterly Dividend

CSW Industrials, Inc. (NASDAQ:CSWI) announced a quarterly dividend on Thursday, January 16th,RTT News reports. Stockholders of record on Friday, January 31st will be paid a dividend of 0.24 per share by the basic materials company on Friday, February 14th. This represents a $0.96 annualized dividend and a dividend yield of 0.27%. The ex-dividend date of this dividend is Friday, January 31st.

CSW Industrials has raised its dividend by an average of 13.3% per year over the last three years. CSW Industrials has a payout ratio of 9.2% meaning its dividend is sufficiently covered by earnings. Analysts expect CSW Industrials to earn $9.59 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 10.0%.

CSW Industrials Stock Performance

NASDAQ:CSWI opened at $357.51 on Wednesday. CSW Industrials has a one year low of $204.50 and a one year high of $436.50. The stock has a market cap of $6.01 billion, a price-to-earnings ratio of 48.57 and a beta of 0.85. The business’s 50-day simple moving average is $383.27 and its 200 day simple moving average is $358.60.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CSWI shares. Wells Fargo & Company reduced their target price on shares of CSW Industrials from $425.00 to $410.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. StockNews.com upgraded CSW Industrials from a “hold” rating to a “buy” rating in a report on Friday, December 6th. The Goldman Sachs Group lowered their price objective on shares of CSW Industrials from $450.00 to $400.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Finally, Citigroup reduced their price target on CSW Industrials from $466.00 to $404.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $404.67.

Insider Buying and Selling at CSW Industrials

In related news, EVP Don Sullivan sold 1,800 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $377.58, for a total value of $679,644.00. Following the sale, the executive vice president now owns 29,004 shares in the company, valued at approximately $10,951,330.32. This represents a 5.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joseph B. Armes sold 1,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $404.79, for a total transaction of $404,790.00. Following the completion of the transaction, the chief executive officer now owns 50,698 shares in the company, valued at approximately $20,522,043.42. This represents a 1.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,903 shares of company stock worth $3,777,538. Company insiders own 1.40% of the company’s stock.

CSW Industrials Company Profile

CSW Industrials, Inc operates as a diversified industrial company in the United States and internationally. It operates through three segments: Contractor Solutions, Engineered Building Solutions, and Specialized Reliability Solutions. The Contractor Solutions segment provides condensate pads, pans, pumps, switches, and traps; cements, diffusers, grilles, registers, solvents, thread sealants, and vents; line set covers; refrigerant caps; wire pulling head tools; electrical protection, chemical maintenance, and installation supplies for HVAC; ductless mini-split systems installation support tools and accessories; and drain waste and vent system products for use in HVAC/R, plumbing, general industrial, architecturally specified building products.