Eastern Bank Purchases New Stake in CSW Industrials, Inc. (NASDAQ:CSWI)

Eastern Bank purchased a new stake in CSW Industrials, Inc. (NASDAQ:CSWI) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 600 shares of the basic materials company’s stock, valued at approximately $220,000.

Several other hedge funds have also recently bought and sold shares of CSWI. Sequoia Financial Advisors LLC purchased a new stake in shares of CSW Industrials during the third quarter valued at approximately $1,129,000. Everence Capital Management Inc. bought a new stake in shares of CSW Industrials in the third quarter worth $443,000. Blue Trust Inc. increased its stake in shares of CSW Industrials by 2,518.2% in the third quarter. Blue Trust Inc. now owns 288 shares of the basic materials company’s stock worth $106,000 after buying an additional 277 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in shares of CSW Industrials in the third quarter worth $30,000. Finally, Creative Planning increased its stake in shares of CSW Industrials by 38.2% in the third quarter. Creative Planning now owns 7,387 shares of the basic materials company’s stock worth $2,707,000 after buying an additional 2,041 shares during the last quarter. Hedge funds and other institutional investors own 82.79% of the company’s stock.

CSW Industrials Stock Performance

CSW Industrials stock opened at $365.02 on Friday. The company has a market cap of $5.67 billion, a PE ratio of 55.90, a P/E/G ratio of 2.99 and a beta of 0.77. The company has a fifty day moving average price of $349.92 and a two-hundred day moving average price of $294.64. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 1.44. CSW Industrials, Inc. has a 12 month low of $167.27 and a 12 month high of $398.80.

CSW Industrials (NASDAQ:CSWI) last announced its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.29. CSW Industrials had a net margin of 13.44% and a return on equity of 19.19%. The company had revenue of $226.18 million during the quarter, compared to the consensus estimate of $215.40 million. During the same quarter in the previous year, the company posted $1.97 earnings per share. Research analysts expect that CSW Industrials, Inc. will post 8.42 earnings per share for the current year.

CSW Industrials Increases Dividend

The company also recently declared 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 an increase from CSW Industrials’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.96 annualized dividend and a dividend yield of 0.26%. CSW Industrials’s payout ratio is 14.70%.

Insider Activity

In related news, CEO Joseph B. Armes sold 1,000 shares of CSW Industrials stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $341.37, for a total transaction of $341,370.00. Following the sale, the chief executive officer now directly owns 51,579 shares in the company, valued at $17,607,523.23. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

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

About CSW Industrials

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.