DAVENPORT & Co LLC Purchases New Position in CSW Industrials, Inc. $CSW

DAVENPORT & Co LLC acquired a new position in CSW Industrials, Inc. (NYSE:CSW) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,263 shares of the basic materials company’s stock, valued at approximately $1,545,000.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC bought a new stake in shares of CSW Industrials in the 4th quarter worth $50,000. Harbor Investment Advisory LLC bought a new position in shares of CSW Industrials during the fourth quarter valued at $92,000. Hilltop National Bank bought a new position in shares of CSW Industrials during the fourth quarter valued at $200,000. Heritage Family Offices LLP purchased a new stake in shares of CSW Industrials during the fourth quarter valued at $237,000. Finally, Integrated Wealth Concepts LLC boosted its position in shares of CSW Industrials by 20.0% during the first quarter. Integrated Wealth Concepts LLC now owns 970 shares of the basic materials company’s stock valued at $283,000 after buying an additional 162 shares during the last quarter. 82.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CSW shares. Truist Financial boosted their target price on CSW Industrials from $271.00 to $292.00 and gave the stock a “hold” rating in a research report on Monday, February 2nd. Robert W. Baird initiated coverage on shares of CSW Industrials in a report on Tuesday, February 17th. They set an “outperform” rating and a $378.00 price target on the stock. Wells Fargo & Company reduced their price target on shares of CSW Industrials from $300.00 to $280.00 and set an “equal weight” rating for the company in a research note on Monday, February 2nd. Jefferies Financial Group set a $350.00 price objective on shares of CSW Industrials in a report on Wednesday, December 3rd. Finally, The Goldman Sachs Group increased their price objective on shares of CSW Industrials from $302.00 to $333.00 and gave the company a “neutral” rating in a research report on Tuesday, January 13th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $327.14.

CSW Industrials Stock Up 2.1%

CSW stock opened at $263.70 on Friday. The company has a market cap of $4.34 billion, a price-to-earnings ratio of 34.97 and a beta of 0.81. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.97 and a current ratio of 2.36. The business’s 50-day moving average is $287.36 and its two-hundred day moving average is $276.42. CSW Industrials, Inc. has a fifty-two week low of $230.45 and a fifty-two week high of $338.90.

CSW Industrials (NYSE:CSW) last released its quarterly earnings results on Thursday, January 29th. The basic materials company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.51). CSW Industrials had a net margin of 12.64% and a return on equity of 14.55%. The firm had revenue of $232.99 million for the quarter, compared to the consensus estimate of $249.36 million. As a group, analysts forecast 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 13th. Investors of record on Friday, January 30th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.4%. The ex-dividend date was Friday, January 30th. CSW Industrials’s payout ratio is 14.32%.

Insider Buying and Selling at CSW Industrials

In other news, SVP Luke Alverson sold 500 shares of CSW Industrials stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $316.02, for a total transaction of $158,010.00. Following the transaction, the senior vice president owned 12,450 shares in the company, valued at $3,934,449. This trade represents a 3.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Darron K. Ash acquired 300 shares of the business’s stock in a transaction dated Friday, March 13th. The shares were acquired at an average cost of $256.62 per share, with a total value of $76,986.00. Following the transaction, the director owned 1,155 shares in the company, valued at approximately $296,396.10. This trade represents a 35.09% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.30% of the stock is owned by corporate insiders.

About CSW Industrials

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.