Assenagon Asset Management S.A. Has $20.38 Million Stake in CSW Industrials, Inc. (NASDAQ:CSWI)

Assenagon Asset Management S.A. grew its holdings in shares of CSW Industrials, Inc. (NASDAQ:CSWI) by 162.4% in the third quarter, HoldingsChannel.com reports. The fund owned 55,626 shares of the basic materials company’s stock after acquiring an additional 34,427 shares during the quarter. Assenagon Asset Management S.A.’s holdings in CSW Industrials were worth $20,381,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in CSWI. Vanguard Group Inc. grew its stake in CSW Industrials by 39.1% during the first quarter. Vanguard Group Inc. now owns 1,213,748 shares of the basic materials company’s stock worth $284,745,000 after purchasing an additional 340,904 shares during the period. Conestoga Capital Advisors LLC grew its position in shares of CSW Industrials by 2.7% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 567,256 shares of the basic materials company’s stock worth $150,499,000 after buying an additional 14,900 shares during the period. Capital World Investors grew its position in shares of CSW Industrials by 956.8% during the 1st quarter. Capital World Investors now owns 376,573 shares of the basic materials company’s stock worth $88,344,000 after buying an additional 340,939 shares during the period. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of CSW Industrials during the 2nd quarter valued at $65,595,000. Finally, Bank of New York Mellon Corp boosted its stake in CSW Industrials by 8.5% during the second quarter. Bank of New York Mellon Corp now owns 77,995 shares of the basic materials company’s stock worth $20,693,000 after acquiring an additional 6,137 shares in the last quarter. 82.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of CSW Industrials from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th.

Insider Transactions at CSW Industrials

In related news, CEO Joseph B. Armes sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $393.34, for a total value of $393,340.00. Following the transaction, the chief executive officer now owns 51,698 shares of the company’s stock, valued at approximately $20,334,891.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is currently owned by insiders.

CSW Industrials Stock Up 0.6 %

CSWI stock opened at $367.05 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.44 and a current ratio of 2.73. CSW Industrials, Inc. has a fifty-two week low of $167.27 and a fifty-two week high of $398.80. The stock’s 50 day simple moving average is $351.06 and its 200 day simple moving average is $295.54. The company has a market cap of $5.70 billion, a P/E ratio of 56.21, a price-to-earnings-growth ratio of 2.99 and a beta of 0.77.

CSW Industrials (NASDAQ:CSWI) last issued its earnings results on Wednesday, July 31st. The basic materials company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.29. The company had revenue of $226.18 million for the quarter, compared to analysts’ expectations of $215.40 million. CSW Industrials had a return on equity of 19.19% and a net margin of 13.44%. During the same period last year, the business earned $1.97 EPS. On average, research analysts expect that CSW Industrials, Inc. will post 8.42 earnings per share for the current fiscal year.

CSW Industrials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 25th will be issued a dividend of $0.24 per share. This is a boost from CSW Industrials’s previous quarterly dividend of $0.21. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date is Friday, October 25th. CSW Industrials’s dividend payout ratio (DPR) is currently 14.70%.

CSW Industrials Profile

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.