Norges Bank Makes New Investment in CSW Industrials, Inc. (NASDAQ:CSWI)

Norges Bank acquired a new stake in shares of CSW Industrials, Inc. (NASDAQ:CSWI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 167,943 shares of the basic materials company's stock, valued at approximately $59,250,000. Norges Bank owned approximately 1.00% of CSW Industrials as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its holdings in shares of CSW Industrials by 8.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 9,503 shares of the basic materials company's stock valued at $3,482,000 after purchasing an additional 744 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of CSW Industrials by 26.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,881 shares of the basic materials company's stock valued at $3,620,000 after acquiring an additional 2,049 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of CSW Industrials by 13.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,742 shares of the basic materials company's stock valued at $1,005,000 after acquiring an additional 331 shares in the last quarter. Captrust Financial Advisors lifted its holdings in CSW Industrials by 11.5% in the 3rd quarter. Captrust Financial Advisors now owns 1,097 shares of the basic materials company's stock worth $402,000 after purchasing an additional 113 shares during the last quarter. Finally, Verition Fund Management LLC bought a new stake in CSW Industrials during the third quarter worth approximately $237,000. 82.79% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Insider Activity at CSW Industrials

In other news, CEO Joseph B. Armes sold 1,000 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $378.32, for a total transaction of $378,320.00. Following the completion of the transaction, the chief executive officer now directly owns 48,848 shares in the company, valued at $18,480,175.36. This represents a 2.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert M. Swartz sold 200 shares of CSW Industrials stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $289.10, for a total value of $57,820.00. Following the completion of the sale, the director now directly owns 13,119 shares in the company, valued at approximately $3,792,702.90. This represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,534 shares of company stock valued at $3,133,640. 1.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

CSW Industrials Stock Down 3.7 %

CSWI stock traded down $9.74 during midday trading on Tuesday, reaching $254.34. The company's stock had a trading volume of 189,946 shares, compared to its average volume of 132,702. The business's 50-day simple moving average is $301.38 and its 200-day simple moving average is $354.35. CSW Industrials, Inc. has a 52 week low of $229.49 and a 52 week high of $436.50. The stock has a market cap of $4.27 billion, a PE ratio of 30.39 and a beta of 0.88.

CSW Industrials (NASDAQ:CSWI - Get Free Report) last released its quarterly earnings data 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%. As a group, equities analysts forecast that CSW Industrials, Inc. will post 8.49 earnings per share for the current fiscal year.

CSW Industrials Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend was Friday, January 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.38%. CSW Industrials's payout ratio is presently 11.47%.

About CSW Industrials

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.