CI Investments Inc. Sells 2,412 Shares of CSW Industrials, Inc. $CSW

CI Investments Inc. cut its holdings in CSW Industrials, Inc. (NYSE:CSW) by 5.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,212 shares of the basic materials company’s stock after selling 2,412 shares during the period. CI Investments Inc. owned about 0.27% of CSW Industrials worth $11,781,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. bought a new position in CSW Industrials in the fourth quarter valued at $515,553,000. Capital World Investors bought a new stake in CSW Industrials during the 4th quarter worth about $308,934,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of CSW Industrials during the 4th quarter worth about $237,891,000. Morgan Stanley acquired a new position in shares of CSW Industrials during the 4th quarter worth about $196,549,000. Finally, Wasatch Advisors LP bought a new position in shares of CSW Industrials in the 4th quarter valued at about $195,630,000. Institutional investors own 82.79% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on CSW shares. Citigroup lowered their target price on CSW Industrials from $307.00 to $304.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 27th. Truist Financial increased their price target on CSW Industrials from $300.00 to $313.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. Wells Fargo & Company raised their price target on CSW Industrials from $280.00 to $285.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 27th. Weiss Ratings lowered CSW Industrials from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 14th. Finally, Zacks Research upgraded CSW Industrials from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 8th. Three research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $330.43.

CSW Industrials Trading Up 1.9%

Shares of NYSE:CSW opened at $282.36 on Thursday. CSW Industrials, Inc. has a 52-week low of $230.45 and a 52-week high of $337.02. The company has a market capitalization of $4.60 billion, a P/E ratio of 42.27 and a beta of 0.84. The company has a 50-day simple moving average of $275.44 and a 200 day simple moving average of $284.00. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.23 and a current ratio of 2.60.

CSW Industrials (NYSE:CSW) last posted its quarterly earnings results on Tuesday, May 26th. The basic materials company reported $3.14 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $0.80. The business had revenue of $308.96 million during the quarter. CSW Industrials had a return on equity of 15.91% and a net margin of 10.35%.The company’s quarterly revenue was up 34.0% compared to the same quarter last year. Sell-side analysts forecast that CSW Industrials, Inc. will post 12.52 earnings per share for the current year.

CSW Industrials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.4%. CSW Industrials’s payout ratio is presently 17.96%.

Insider Buying and Selling

In related news, SVP Luke Alverson sold 1,007 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $289.57, for a total value of $291,596.99. Following the sale, the senior vice president owned 12,450 shares in the company, valued at approximately $3,605,146.50. This represents a 7.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Joseph B. Armes sold 1,500 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $279.52, for a total value of $419,280.00. Following the completion of the sale, the chief executive officer owned 69,100 shares in the company, valued at approximately $19,314,832. This trade represents a 2.12% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 4,007 shares of company stock worth $1,136,787 over the last three months. 1.20% of the stock is owned by insiders.

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.