CSW Industrials (NYSE:CSW) Cut to Hold at Zacks Research

CSW Industrials (NYSE:CSW) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

A number of other equities research analysts have also weighed in on CSW. Truist Financial lifted their target price on shares of CSW Industrials from $300.00 to $313.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. Wells Fargo & Company increased their price target on shares of CSW Industrials from $280.00 to $285.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 27th. Citigroup cut their price objective 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. Finally, Weiss Ratings downgraded CSW Industrials from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $330.43.

CSW Industrials Stock Performance

Shares of CSW stock opened at $298.87 on Monday. The stock has a fifty day moving average of $278.13 and a 200 day moving average of $283.61. CSW Industrials has a 52 week low of $230.45 and a 52 week high of $337.02. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of 44.74 and a beta of 0.84. The company has a quick ratio of 1.23, a current ratio of 2.60 and a debt-to-equity ratio of 0.80.

CSW Industrials (NYSE:CSW) last released its quarterly earnings results on Tuesday, May 26th. The basic materials company reported $3.14 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.80. The business had revenue of $308.96 million for the quarter. CSW Industrials had a net margin of 10.35% and a return on equity of 15.91%. The company’s quarterly revenue was up 34.0% compared to the same quarter last year. As a group, research analysts expect that CSW Industrials will post 12.52 earnings per share for the current year.

Insider Transactions at CSW Industrials

In related news, CEO Joseph B. Armes sold 1,500 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $279.52, for a total transaction of $419,280.00. Following the sale, the chief executive officer directly owned 69,100 shares of the company’s stock, valued at approximately $19,314,832. This represents a 2.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Luke Alverson sold 1,007 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $289.57, for a total transaction of $291,596.99. Following the sale, the senior vice president owned 12,450 shares of the company’s stock, valued at approximately $3,605,146.50. This represents a 7.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 4,007 shares of company stock worth $1,136,787. 1.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CSW Industrials

A number of hedge funds have recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. bought a new position in CSW Industrials in the 1st quarter valued at approximately $26,000. Arax Advisory Partners bought a new stake in shares of CSW Industrials in the 4th quarter worth $28,000. Danske Bank A S purchased a new position in shares of CSW Industrials in the fourth quarter worth $29,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of CSW Industrials during the fourth quarter valued at $31,000. Finally, Global Retirement Partners LLC bought a new position in shares of CSW Industrials during the fourth quarter valued at $31,000. 82.79% of the stock is currently owned by hedge funds and other institutional investors.

CSW Industrials Company Profile

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.