CSW Industrials (NYSE:CSW) Shares Gap Down – Here’s What Happened

Shares of CSW Industrials, Inc. (NYSE:CSW) gapped down before the market opened on Monday . The stock had previously closed at $335.19, but opened at $322.08. CSW Industrials shares last traded at $317.10, with a volume of 1,282 shares trading hands.

Analyst Ratings Changes

A number of research analysts recently issued reports on CSW shares. Citigroup raised their price objective on shares of CSW Industrials from $311.00 to $333.00 and gave the company a “neutral” rating in a report on Monday, January 12th. JPMorgan Chase & Co. raised shares of CSW Industrials from a “neutral” rating to an “overweight” rating and raised their price target for the company from $300.00 to $350.00 in a research note on Wednesday, December 3rd. CJS Securities raised shares of CSW Industrials to a “strong-buy” rating in a research note on Thursday, December 11th. Zacks Research downgraded CSW Industrials from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Finally, Truist Financial raised their target price on CSW Industrials from $273.00 to $276.00 and gave the stock a “hold” rating in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $323.67.

CSW Industrials Stock Performance

The stock has a fifty day simple moving average of $303.82 and a two-hundred day simple moving average of $273.47. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.32 and a current ratio of 2.76. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of 35.15 and a beta of 0.82.

CSW Industrials (NYSE:CSW) last issued its quarterly earnings results on Thursday, October 30th. The basic materials company reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.23. CSW Industrials had a return on equity of 14.74% and a net margin of 14.88%. 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 announced a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be paid a $0.27 dividend. The ex-dividend date is Friday, January 30th. This represents a $1.08 annualized dividend and a dividend yield of 0.4%. CSW Industrials’s dividend payout ratio (DPR) is currently 12.68%.

Insiders Place Their Bets

In other news, CEO Joseph B. Armes sold 1,000 shares of the business’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $328.64, for a total transaction of $328,640.00. Following the completion of the sale, the chief executive officer directly owned 62,526 shares of the company’s stock, valued at $20,548,544.64. The trade was a 1.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Luke Alverson sold 280 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $272.95, for a total transaction of $76,426.00. Following the completion of the transaction, the senior vice president directly owned 13,110 shares in the company, valued at approximately $3,578,374.50. The trade was a 2.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 9,366 shares of company stock worth $2,731,813 in the last quarter. Insiders own 1.30% of the company’s stock.

Institutional Trading of CSW Industrials

Institutional investors and hedge funds have recently modified their holdings of the stock. Congress Asset Management Co. purchased a new position in shares of CSW Industrials during the fourth quarter valued at approximately $65,002,000. Vaughan Nelson Investment Management L.P. bought a new position in CSW Industrials during the 4th quarter valued at $53,434,000. Allspring Global Investments Holdings LLC purchased a new position in CSW Industrials during the 4th quarter worth $41,461,000. SG Americas Securities LLC bought a new stake in shares of CSW Industrials in the 4th quarter worth $39,915,000. Finally, Riverbridge Partners LLC purchased a new stake in shares of CSW Industrials in the fourth quarter valued at about $38,280,000. 82.79% of the stock is owned by hedge funds and other institutional investors.

About CSW Industrials

CSW Industrials, Inc is a diversified industrial manufacturer that develops and supplies specialty chemical products, performance materials and precision surface solutions. The company’s offerings span a range of end markets including energy, industrial processing, converting and automotive, where its products serve critical functions in production efficiency, equipment maintenance and process enhancement.

In its chemical business, CSW Industrials produces solvent- and water-based formulations such as surfactants, corrosion inhibitors and custom blends used in oilfield exploration and production, metalworking, water treatment and other industrial applications.