The Manufacturers Life Insurance Company Makes New Investment in CSW Industrials, Inc. $CSW

The Manufacturers Life Insurance Company purchased a new position in shares of CSW Industrials, Inc. (NYSE:CSW) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 8,738 shares of the basic materials company’s stock, valued at approximately $2,432,000. The Manufacturers Life Insurance Company owned 0.05% of CSW Industrials as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CSW. Arax Advisory Partners acquired a new stake in shares of CSW Industrials in the fourth quarter valued at about $28,000. Danske Bank A S acquired a new position in CSW Industrials during the fourth quarter worth about $29,000. Valley Wealth Managers Inc. purchased a new position in CSW Industrials in the first quarter valued at about $26,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in CSW Industrials in the fourth quarter valued at about $31,000. Finally, Global Retirement Partners LLC acquired a new stake in shares of CSW Industrials during the 4th quarter valued at approximately $31,000. Hedge funds and other institutional investors own 82.79% of the company’s stock.

CSW Industrials Trading Up 0.5%

Shares of CSW Industrials stock opened at $302.35 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.70 and a quick ratio of 1.36. CSW Industrials, Inc. has a 1 year low of $230.45 and a 1 year high of $355.48. The company has a market capitalization of $4.93 billion, a P/E ratio of 41.47 and a beta of 0.81. The business has a 50 day moving average price of $306.74 and a 200 day moving average price of $287.63.

CSW Industrials (NYSE:CSW) last announced its earnings results on Thursday, July 30th. The basic materials company reported $3.84 EPS for the quarter, beating analysts’ consensus estimates of $3.66 by $0.18. The firm had revenue of $350.65 million for the quarter. CSW Industrials had a return on equity of 17.41% and a net margin of 10.34%.The company’s revenue was up 33.0% on a year-over-year basis. Sell-side analysts anticipate that CSW Industrials, Inc. will post 12.77 EPS for the current fiscal year.

CSW Industrials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Friday, July 31st. CSW Industrials’s dividend payout ratio is currently 16.46%.

Wall Street Analysts Forecast Growth

CSW has been the subject of several research analyst reports. Zacks Research downgraded CSW Industrials from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Wells Fargo & Company upped their target price on CSW Industrials from $285.00 to $320.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. Weiss Ratings upgraded CSW Industrials from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, August 3rd. Truist Financial lifted their price target on CSW Industrials from $313.00 to $332.00 and gave the stock a “hold” rating in a research note on Monday, August 3rd. Finally, Citigroup boosted their price objective on shares of CSW Industrials from $304.00 to $340.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $347.57.

Insiders Place Their Bets

In related news, CEO Joseph B. Armes sold 1,500 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $279.52, for a total transaction of $419,280.00. Following the sale, the chief executive officer owned 69,100 shares of the company’s stock, valued at $19,314,832. This trade represents a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jeff Underwood sold 720 shares of CSW Industrials stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $346.96, for a total value of $249,811.20. Following the sale, the executive vice president owned 6,409 shares of the company’s stock, valued at approximately $2,223,666.64. This represents a 10.10% decrease in their position. The SEC filing for this sale provides additional information. 1.20% of the stock is owned by company insiders.

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.