Wells Fargo & Company Initiates Coverage on CSW Industrials (NASDAQ:CSWI)

Wells Fargo & Company started coverage on shares of CSW Industrials (NASDAQ:CSWI) in a report released on Monday morning, MarketBeat reports. The firm issued an equal weight rating and a $425.00 price objective on the basic materials company’s stock.

CSWI has been the topic of a number of other research reports. Citigroup raised CSW Industrials to a “hold” rating in a research report on Wednesday, November 13th. StockNews.com lowered CSW Industrials from a “buy” rating to a “hold” rating in a report on Thursday, November 14th.

CSW Industrials Stock Down 1.5 %

Shares of NASDAQ:CSWI opened at $417.23 on Monday. CSW Industrials has a 12-month low of $172.97 and a 12-month high of $436.50. The company’s 50 day moving average price is $385.50 and its two-hundred day moving average price is $321.09. The firm has a market cap of $7.02 billion, a PE ratio of 56.69, a PEG ratio of 3.46 and a beta of 0.78.

CSW Industrials Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, October 25th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date was Friday, October 25th. This is an increase from CSW Industrials’s previous quarterly dividend of $0.21. CSW Industrials’s dividend payout ratio is 13.04%.

Insider Buying and Selling

In other CSW Industrials news, CEO Joseph B. Armes sold 1,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $393.34, for a total transaction of $393,340.00. Following the completion of the transaction, the chief executive officer now owns 51,698 shares of the company’s stock, valued at approximately $20,334,891.32. The trade was a 1.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have sold 3,000 shares of company stock worth $1,139,500. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On CSW Industrials

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in CSW Industrials by 39.1% in the 1st quarter. Vanguard Group Inc. now owns 1,213,748 shares of the basic materials company’s stock valued at $284,745,000 after purchasing an additional 340,904 shares during the last quarter. State Street Corp lifted its stake in shares of CSW Industrials by 71.7% in the 3rd quarter. State Street Corp now owns 612,696 shares of the basic materials company’s stock valued at $224,486,000 after acquiring an additional 255,849 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of CSW Industrials during the 2nd quarter valued at $65,595,000. Principal Financial Group Inc. grew its position in CSW Industrials by 1,046.2% during the 3rd quarter. Principal Financial Group Inc. now owns 84,991 shares of the basic materials company’s stock worth $31,140,000 after acquiring an additional 77,576 shares during the last quarter. Finally, Loomis Sayles & Co. L P bought a new stake in CSW Industrials during the 3rd quarter worth $25,589,000. 82.79% of the stock is currently owned by institutional investors and hedge funds.

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.