Verition Fund Management LLC Invests $237,000 in CSW Industrials, Inc. (NASDAQ:CSWI)

Verition Fund Management LLC acquired a new position in CSW Industrials, Inc. (NASDAQ:CSWI) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 646 shares of the basic materials company’s stock, valued at approximately $237,000.

Several other large investors also recently added to or reduced their stakes in the business. Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of CSW Industrials during the 2nd quarter worth $65,595,000. Principal Financial Group Inc. lifted its position in CSW Industrials by 1,046.2% during the third quarter. Principal Financial Group Inc. now owns 84,991 shares of the basic materials company’s stock valued at $31,140,000 after purchasing an additional 77,576 shares in the last quarter. Loomis Sayles & Co. L P bought a new stake in CSW Industrials during the third quarter valued at about $25,589,000. Natixis Advisors LLC purchased a new stake in CSW Industrials in the second quarter worth about $12,424,000. Finally, Public Sector Pension Investment Board purchased a new position in shares of CSW Industrials during the 3rd quarter valued at about $12,934,000. 82.79% of the stock is currently owned by institutional investors.

CSW Industrials Stock Performance

CSWI stock opened at $388.68 on Monday. The company’s fifty day moving average price is $396.90 and its 200-day moving average price is $335.58. CSW Industrials, Inc. has a one year low of $197.16 and a one year high of $436.50. The company has a market capitalization of $6.54 billion, a PE ratio of 52.81 and a beta of 0.81.

CSW Industrials Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, October 25th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, October 25th. This represents a $0.96 annualized dividend and a yield of 0.25%. This is a boost from CSW Industrials’s previous quarterly dividend of $0.21. CSW Industrials’s payout ratio is presently 13.04%.

Insider Activity

In related news, CEO Joseph B. Armes sold 1,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $404.79, for a total value of $404,790.00. Following the sale, the chief executive officer now directly owns 50,698 shares in the company, valued at approximately $20,522,043.42. The trade was a 1.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CSWI shares. StockNews.com raised shares of CSW Industrials from a “hold” rating to a “buy” rating in a report on Friday, December 6th. Citigroup upgraded shares of CSW Industrials to a “hold” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group initiated coverage on shares of CSW Industrials in a report on Friday, December 6th. They issued a “neutral” rating and a $450.00 target price for the company. Finally, Wells Fargo & Company initiated coverage on CSW Industrials in a report on Monday, November 25th. They set an “equal weight” rating and a $425.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $437.50.

CSW Industrials 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.