CSW Industrials (NASDAQ:CSWI) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of CSW Industrials (NASDAQ:CSWI) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

CSW Industrials Stock Down 0.9 %

CSWI opened at $403.98 on Thursday. CSW Industrials has a 52-week low of $167.81 and a 52-week high of $428.46. The company has a 50 day moving average of $372.75 and a two-hundred day moving average of $311.54. The company has a market cap of $6.79 billion, a P/E ratio of 54.89, a P/E/G ratio of 3.32 and a beta of 0.78.

CSW Industrials Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, October 25th were issued a $0.24 dividend. This is an increase from CSW Industrials’s previous quarterly dividend of $0.21. This represents a $0.96 annualized dividend and a yield of 0.24%. The ex-dividend date was Friday, October 25th. CSW Industrials’s dividend payout ratio is currently 13.04%.

Insiders Place Their Bets

In other news, CEO Joseph B. Armes sold 1,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $393.34, for a total transaction of $393,340.00. Following the transaction, the chief executive officer now directly owns 51,698 shares of the company’s stock, valued at approximately $20,334,891.32. The trade was a 1.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 3,000 shares of company stock worth $1,139,500 over the last quarter. 1.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CSW Industrials

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in CSW Industrials by 7.4% in the 3rd quarter. Geode Capital Management LLC now owns 388,954 shares of the basic materials company’s stock valued at $142,536,000 after buying an additional 26,728 shares during the last quarter. Barclays PLC lifted its stake in shares of CSW Industrials by 431.2% in the third quarter. Barclays PLC now owns 29,272 shares of the basic materials company’s stock worth $10,725,000 after acquiring an additional 23,761 shares in the last quarter. MML Investors Services LLC boosted its holdings in CSW Industrials by 4.8% in the third quarter. MML Investors Services LLC now owns 1,612 shares of the basic materials company’s stock valued at $591,000 after purchasing an additional 74 shares during the last quarter. Kensington Investment Counsel LLC grew its stake in CSW Industrials by 2.8% during the 3rd quarter. Kensington Investment Counsel LLC now owns 8,817 shares of the basic materials company’s stock valued at $3,230,000 after purchasing an additional 239 shares in the last quarter. Finally, Zimmer Partners LP purchased a new stake in CSW Industrials during the 3rd quarter worth approximately $18,796,000. Hedge funds and other institutional investors own 82.79% 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.