Franklin Resources Inc. lifted its position in CSW Industrials, Inc. (NASDAQ:CSWI - Free Report) by 77.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 102,458 shares of the basic materials company's stock after buying an additional 44,841 shares during the quarter. Franklin Resources Inc. owned approximately 0.61% of CSW Industrials worth $36,147,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of CSWI. CIBC Private Wealth Group LLC lifted its position in shares of CSW Industrials by 49.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 231 shares of the basic materials company's stock worth $83,000 after purchasing an additional 76 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in CSW Industrials by 21.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,384 shares of the basic materials company's stock worth $841,000 after buying an additional 426 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in CSW Industrials in the 4th quarter valued at approximately $331,000. Norges Bank acquired a new position in shares of CSW Industrials in the fourth quarter worth $59,250,000. Finally, Loomis Sayles & Co. L P grew its stake in shares of CSW Industrials by 37.5% in the fourth quarter. Loomis Sayles & Co. L P now owns 96,031 shares of the basic materials company's stock worth $33,880,000 after acquiring an additional 26,189 shares in the last quarter. 82.79% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on CSWI. Wells Fargo & Company decreased their target price on CSW Industrials from $410.00 to $350.00 and set an "equal weight" rating for the company in a report on Friday, January 31st. The Goldman Sachs Group lowered their price objective on CSW Industrials from $450.00 to $400.00 and set a "neutral" rating for the company in a research report on Tuesday, January 14th. StockNews.com downgraded shares of CSW Industrials from a "buy" rating to a "hold" rating in a research note on Monday, February 3rd. Citigroup reduced their price objective on shares of CSW Industrials from $466.00 to $404.00 and set a "neutral" rating on the stock in a report on Monday, January 13th. Finally, Truist Financial assumed coverage on CSW Industrials in a research note on Friday, February 14th. They issued a "hold" rating and a $362.00 price target on the stock. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, CSW Industrials presently has an average rating of "Hold" and a consensus target price of $379.00.
Check Out Our Latest Stock Analysis on CSWI
Insiders Place Their Bets
In other news, SVP Luke Alverson sold 1,522 shares of the business's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $358.16, for a total transaction of $545,119.52. Following the transaction, the senior vice president now directly owns 15,634 shares in the company, valued at $5,599,473.44. The trade was a 8.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Joseph B. Armes sold 1,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $378.32, for a total value of $378,320.00. Following the transaction, the chief executive officer now directly owns 48,848 shares of the company's stock, valued at approximately $18,480,175.36. This trade represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,534 shares of company stock valued at $3,133,640. Insiders own 1.40% of the company's stock.
CSW Industrials Stock Performance
Shares of CSWI stock traded down $12.85 during mid-day trading on Thursday, hitting $275.27. 38,496 shares of the stock were exchanged, compared to its average volume of 132,744. The stock's fifty day simple moving average is $299.75 and its two-hundred day simple moving average is $353.38. CSW Industrials, Inc. has a 12-month low of $229.49 and a 12-month high of $436.50. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 32.85 and a beta of 0.88.
CSW Industrials (NASDAQ:CSWI - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.37 by $0.11. CSW Industrials had a return on equity of 15.72% and a net margin of 15.53%. On average, research analysts expect that CSW Industrials, Inc. will post 8.49 earnings per share for the current fiscal year.
CSW Industrials Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date was Friday, January 31st. CSW Industrials's dividend payout ratio is currently 11.47%.
CSW Industrials Company Profile
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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.
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