Bank of New York Mellon Corp Cuts Position in CSW Industrials, Inc. (NYSE:CSW)

Bank of New York Mellon Corp lowered its position in CSW Industrials, Inc. (NYSE:CSW) by 3.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,406 shares of the basic materials company’s stock after selling 4,215 shares during the quarter. Bank of New York Mellon Corp owned 0.69% of CSW Industrials worth $33,935,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp lifted its holdings in CSW Industrials by 9.3% in the 1st quarter. Fifth Third Bancorp now owns 401 shares of the basic materials company’s stock valued at $117,000 after acquiring an additional 34 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of CSW Industrials by 1.1% in the first quarter. Sequoia Financial Advisors LLC now owns 3,122 shares of the basic materials company’s stock worth $910,000 after acquiring an additional 34 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of CSW Industrials by 1.0% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 3,590 shares of the basic materials company’s stock worth $1,267,000 after acquiring an additional 35 shares during the last quarter. Mariner LLC lifted its position in CSW Industrials by 2.1% in the fourth quarter. Mariner LLC now owns 2,204 shares of the basic materials company’s stock worth $778,000 after purchasing an additional 45 shares during the period. Finally, Avantax Advisory Services Inc. lifted its position in CSW Industrials by 5.9% in the fourth quarter. Avantax Advisory Services Inc. now owns 826 shares of the basic materials company’s stock worth $291,000 after purchasing an additional 46 shares during the period. Hedge funds and other institutional investors own 82.79% of the company’s stock.

Insider Buying and Selling

In other news, EVP James E. Perry sold 145 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $304.00, for a total value of $44,080.00. Following the sale, the executive vice president directly owned 25,468 shares in the company, valued at approximately $7,742,272. This represents a 0.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert M. Swartz sold 200 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $312.87, for a total value of $62,574.00. Following the sale, the director owned 12,919 shares in the company, valued at approximately $4,041,967.53. This trade represents a 1.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,109 shares of company stock valued at $1,897,421. Company insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wells Fargo & Company boosted their target price on CSW Industrials from $295.00 to $305.00 and gave the stock an “equal weight” rating in a report on Friday, May 23rd. Citigroup lifted their target price on shares of CSW Industrials from $313.00 to $321.00 and gave the stock a “neutral” rating in a research note on Friday, May 23rd. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $347.00.

CSW Industrials Trading Down 3.5%

Shares of CSW opened at $293.54 on Wednesday. The firm has a market cap of $4.93 billion, a P/E ratio of 34.90 and a beta of 0.88. The company’s 50-day moving average price is $308.94 and its 200 day moving average price is $314.80. CSW Industrials, Inc. has a 12-month low of $249.84 and a 12-month high of $436.50.

CSW Industrials (NYSE:CSW) last posted its earnings results on Thursday, May 22nd. The basic materials company reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.01. CSW Industrials had a return on equity of 14.46% and a net margin of 15.56%. The company had revenue of $230.55 million for the quarter, compared to analyst estimates of $232.82 million. During the same quarter in the prior year, the company earned $2.04 earnings per share. Equities research analysts forecast that CSW Industrials, Inc. will post 8.49 earnings per share for the current year.

CSW Industrials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Friday, July 25th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.37%. CSW Industrials’s payout ratio is currently 12.84%.

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.