Norges Bank Takes $59.25 Million Position in CSW Industrials, Inc. (NASDAQ:CSWI)

Norges Bank acquired a new stake in CSW Industrials, Inc. (NASDAQ:CSWI) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 167,943 shares of the basic materials company’s stock, valued at approximately $59,250,000.

Several other hedge funds have also recently added to or reduced their stakes in CSWI. National Bank of Canada FI purchased a new position in shares of CSW Industrials during the 3rd quarter worth approximately $28,000. IFP Advisors Inc increased its position in CSW Industrials by 510.5% during the fourth quarter. IFP Advisors Inc now owns 116 shares of the basic materials company’s stock worth $42,000 after buying an additional 97 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of CSW Industrials by 94.3% in the fourth quarter. GAMMA Investing LLC now owns 136 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 66 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of CSW Industrials in the fourth quarter valued at $51,000. Finally, Jones Financial Companies Lllp increased its position in CSW Industrials by 300.0% during the 4th quarter. Jones Financial Companies Lllp now owns 164 shares of the basic materials company’s stock worth $58,000 after purchasing an additional 123 shares in the last quarter. 82.79% of the stock is currently owned by hedge funds and other institutional investors.

CSW Industrials Price Performance

Shares of CSWI opened at $270.23 on Friday. CSW Industrials, Inc. has a 12 month low of $229.49 and a 12 month high of $436.50. The stock has a market cap of $4.54 billion, a PE ratio of 32.29 and a beta of 0.88. The stock’s 50-day moving average is $309.08 and its two-hundred day moving average is $356.87.

CSW Industrials (NASDAQ:CSWI) last announced its earnings results on Thursday, January 30th. The basic materials company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.11. CSW Industrials had a net margin of 15.53% and a return on equity of 15.72%. On average, research analysts anticipate that CSW Industrials, Inc. will post 8.49 earnings per share for the current year.

CSW Industrials Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $0.96 annualized dividend and a dividend yield of 0.36%. CSW Industrials’s dividend payout ratio is presently 11.47%.

Insider Transactions at CSW Industrials

In related news, Director Robert M. Swartz sold 200 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $321.78, for a total value of $64,356.00. Following the sale, the director now directly owns 13,519 shares of the company’s stock, valued at $4,350,143.82. This represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Joseph B. Armes sold 1,000 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $378.32, for a total transaction of $378,320.00. Following the transaction, the chief executive officer now owns 48,848 shares in the company, valued at $18,480,175.36. This trade represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,534 shares of company stock valued at $3,133,640. 1.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

CSWI has been the subject of a number of recent research reports. The Goldman Sachs Group lowered their price target on shares of CSW Industrials from $450.00 to $400.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Wells Fargo & Company decreased their price target on CSW Industrials from $410.00 to $350.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Citigroup decreased their target price on shares of CSW Industrials from $466.00 to $404.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. StockNews.com downgraded shares of CSW Industrials from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. Finally, Truist Financial started coverage on CSW Industrials in a report on Friday, February 14th. They issued a “hold” rating and a $362.00 target price on the stock. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $379.00.

CSW Industrials Company 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.