Loomis Sayles & Co. L P purchased a new stake in CSW Industrials, Inc. (NASDAQ:CSWI - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 69,842 shares of the basic materials company's stock, valued at approximately $25,589,000. Loomis Sayles & Co. L P owned approximately 0.42% of CSW Industrials as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of CSWI. CANADA LIFE ASSURANCE Co raised its stake in shares of CSW Industrials by 272.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 7,344 shares of the basic materials company's stock valued at $1,720,000 after purchasing an additional 5,372 shares in the last quarter. Vanguard Group Inc. increased its holdings in CSW Industrials by 39.1% in the 1st quarter. Vanguard Group Inc. now owns 1,213,748 shares of the basic materials company's stock valued at $284,745,000 after buying an additional 340,904 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of CSW Industrials by 40.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 28,423 shares of the basic materials company's stock valued at $10,414,000 after buying an additional 8,161 shares in the last quarter. Daymark Wealth Partners LLC bought a new position in shares of CSW Industrials during the 2nd quarter worth about $478,000. Finally, Oppenheimer Asset Management Inc. boosted its position in shares of CSW Industrials by 49.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 11,376 shares of the basic materials company's stock valued at $3,018,000 after acquiring an additional 3,769 shares in the last quarter. Institutional investors own 82.79% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on CSWI shares. Wells Fargo & Company began coverage on shares of CSW Industrials in a research report on Monday. They issued an "equal weight" rating and a $425.00 price target for the company. Citigroup raised CSW Industrials to a "hold" rating in a report on Wednesday, November 13th. Finally, StockNews.com downgraded CSW Industrials from a "buy" rating to a "hold" rating in a research report on Thursday, November 14th.
View Our Latest Research Report on CSW Industrials
CSW Industrials Price Performance
CSWI stock opened at $423.58 on Wednesday. The business has a fifty day moving average price of $383.89 and a 200 day moving average price of $319.85. CSW Industrials, Inc. has a fifty-two week low of $172.97 and a fifty-two week high of $436.50. The stock has a market capitalization of $7.12 billion, a price-to-earnings ratio of 57.55, a P/E/G ratio of 3.42 and a beta of 0.78.
CSW Industrials Increases Dividend
The firm 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 represents a $0.96 dividend on an annualized basis and a dividend yield of 0.23%. This is a boost from CSW Industrials's previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Friday, October 25th. CSW Industrials's payout ratio is currently 13.04%.
Insider Buying and Selling
In related news, CEO Joseph B. Armes sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $341.37, for a total value of $341,370.00. Following the completion of the sale, the chief executive officer now owns 51,579 shares of the company's stock, valued at $17,607,523.23. This trade represents a 1.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 3,000 shares of company stock worth $1,139,500 in the last 90 days. Corporate insiders own 1.40% of the company's stock.
About CSW Industrials
(
Free Report)
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.
Further Reading
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