KLP Kapitalforvaltning AS Makes New Investment in CSW Industrials, Inc. (NASDAQ:CSWI)

KLP Kapitalforvaltning AS bought a new stake in shares of CSW Industrials, Inc. (NASDAQ:CSWI - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,600 shares of the basic materials company's stock, valued at approximately $1,623,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CSWI. Charles Schwab Investment Management Inc. grew its stake in CSW Industrials by 13.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 168,369 shares of the basic materials company's stock valued at $61,689,000 after acquiring an additional 19,659 shares in the last quarter. Citigroup Inc. grew its position in shares of CSW Industrials by 367.6% during the 3rd quarter. Citigroup Inc. now owns 20,816 shares of the basic materials company's stock valued at $7,627,000 after purchasing an additional 16,364 shares in the last quarter. Algert Global LLC increased its holdings in shares of CSW Industrials by 43.5% in the third quarter. Algert Global LLC now owns 2,244 shares of the basic materials company's stock worth $822,000 after purchasing an additional 680 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of CSW Industrials by 8.5% in the third quarter. The Manufacturers Life Insurance Company now owns 9,503 shares of the basic materials company's stock worth $3,482,000 after buying an additional 744 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in CSW Industrials by 26.2% during the third quarter. BNP Paribas Financial Markets now owns 9,881 shares of the basic materials company's stock valued at $3,620,000 after buying an additional 2,049 shares during the period. 82.79% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

Several research firms have weighed in on CSWI. The Goldman Sachs Group lowered their price target on CSW Industrials from $450.00 to $400.00 and set a "neutral" rating on the stock in a report on Tuesday, January 14th. StockNews.com lowered shares of CSW Industrials from a "buy" rating to a "hold" rating in a research report on Monday, February 3rd. Wells Fargo & Company decreased their price target on shares of CSW Industrials from $410.00 to $350.00 and set an "equal weight" rating on the stock in a report on Friday, January 31st. Truist Financial initiated coverage on shares of CSW Industrials in a report on Friday, February 14th. They set a "hold" rating and a $362.00 price objective for the company. Finally, Citigroup cut their target price on shares of CSW Industrials from $466.00 to $404.00 and set a "neutral" rating for the company in a research report on Monday, January 13th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, CSW Industrials presently has an average rating of "Hold" and an average target price of $379.00.

CSW Industrials Trading Up 2.4 %

Shares of CSWI traded up $7.13 during mid-day trading on Wednesday, reaching $303.04. The company's stock had a trading volume of 77,506 shares, compared to its average volume of 130,640. CSW Industrials, Inc. has a 52 week low of $227.31 and a 52 week high of $436.50. The stock has a market cap of $5.09 billion, a PE ratio of 36.21 and a beta of 0.88. The company's fifty day moving average price is $311.29 and its two-hundred day moving average price is $357.48.

CSW Industrials (NASDAQ:CSWI - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.11. CSW Industrials had a net margin of 15.53% and a return on equity of 15.72%. Research analysts anticipate that CSW Industrials, Inc. will post 8.49 EPS for the current year.

CSW Industrials Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.32%. The ex-dividend date was Friday, January 31st. CSW Industrials's dividend payout ratio is presently 11.47%.

Insider Buying and Selling

In related news, SVP Luke Alverson sold 1,522 shares of the company's stock in a transaction on Monday, January 13th. The shares were sold at an average price of $358.16, for a total transaction of $545,119.52. Following the completion of the sale, the senior vice president now directly owns 15,634 shares in the company, valued at $5,599,473.44. This represents a 8.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert M. Swartz sold 200 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $289.10, for a total transaction of $57,820.00. Following the sale, the director now directly owns 13,119 shares of the company's stock, valued at $3,792,702.90. The trade was a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,734 shares of company stock worth $3,204,570 in the last ninety days. 1.40% of the stock is owned by insiders.

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.