Walleye Capital LLC Buys New Shares in CSW Industrials, Inc. $CSW

Walleye Capital LLC bought a new position in shares of CSW Industrials, Inc. (NYSE:CSW) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,935 shares of the basic materials company’s stock, valued at approximately $1,373,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Handelsbanken Fonder AB grew its position in shares of CSW Industrials by 14.8% in the 2nd quarter. Handelsbanken Fonder AB now owns 5,589 shares of the basic materials company’s stock valued at $1,555,000 after acquiring an additional 720 shares during the period. Pacer Advisors Inc. increased its stake in shares of CSW Industrials by 135.3% during the 1st quarter. Pacer Advisors Inc. now owns 819 shares of the basic materials company’s stock worth $213,000 after purchasing an additional 471 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of CSW Industrials by 25.2% in the 1st quarter. Empowered Funds LLC now owns 2,091 shares of the basic materials company’s stock valued at $545,000 after purchasing an additional 421 shares during the period. Glenmede Trust Co. NA raised its holdings in shares of CSW Industrials by 9.7% in the 1st quarter. Glenmede Trust Co. NA now owns 6,382 shares of the basic materials company’s stock valued at $1,663,000 after purchasing an additional 566 shares during the period. Finally, Argent Capital Management LLC raised its holdings in shares of CSW Industrials by 58.7% in the 1st quarter. Argent Capital Management LLC now owns 3,246 shares of the basic materials company’s stock valued at $846,000 after purchasing an additional 1,200 shares during the period. 82.79% of the stock is owned by institutional investors.

CSW Industrials Stock Performance

NYSE CSW opened at $345.05 on Friday. The firm has a 50-day moving average of $294.44 and a 200-day moving average of $284.99. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.36 and a current ratio of 2.70. The stock has a market cap of $5.62 billion, a PE ratio of 47.33 and a beta of 0.83. CSW Industrials, Inc. has a 52-week low of $230.45 and a 52-week high of $355.48.

CSW Industrials (NYSE:CSW) last announced its earnings results on Thursday, July 30th. The basic materials company reported $3.84 EPS for the quarter, topping the consensus estimate of $3.66 by $0.18. CSW Industrials had a net margin of 10.34% and a return on equity of 17.41%. The business had revenue of $350.65 million during the quarter. The firm’s revenue for the quarter was up 33.0% on a year-over-year basis. On average, sell-side analysts anticipate that CSW Industrials, Inc. will post 12.77 EPS for the current year.

CSW Industrials Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a dividend of $0.30 per share. The ex-dividend date was Friday, July 31st. This represents a $1.20 annualized dividend and a yield of 0.3%. CSW Industrials’s dividend payout ratio (DPR) is presently 16.46%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Truist Financial lifted their price target on CSW Industrials from $313.00 to $332.00 and gave the stock a “hold” rating in a report on Monday, August 3rd. Citigroup boosted their price target on CSW Industrials from $304.00 to $340.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. upped their price objective on CSW Industrials from $350.00 to $380.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Zacks Research cut CSW Industrials from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Finally, Wells Fargo & Company lifted their target price on CSW Industrials from $285.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $347.57.

Insiders Place Their Bets

In related news, CEO Joseph B. Armes sold 1,500 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $279.52, for a total value of $419,280.00. Following the transaction, the chief executive officer directly owned 69,100 shares in the company, valued at approximately $19,314,832. This represents a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jeff Underwood sold 720 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $346.96, for a total transaction of $249,811.20. Following the completion of the transaction, the executive vice president owned 6,409 shares in the company, valued at $2,223,666.64. This trade represents a 10.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,720 shares of company stock valued at $1,095,001 in the last three months. Insiders own 1.20% of the company’s stock.

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.