Truist Financial Issues Positive Forecast for CSW Industrials (NYSE:CSW) Stock Price

CSW Industrials (NYSE:CSW) had its price target raised by Truist Financial from $292.00 to $301.00 in a report published on Monday, Marketbeat.com reports. Truist Financial currently has a hold rating on the basic materials company’s stock.

CSW has been the topic of a number of other research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of CSW Industrials in a report on Monday, December 29th. The Goldman Sachs Group lifted their price target on shares of CSW Industrials from $302.00 to $333.00 and gave the company a “neutral” rating in a report on Tuesday, January 13th. Robert W. Baird assumed coverage on shares of CSW Industrials in a report on Tuesday, February 17th. They issued an “outperform” rating and a $378.00 price target on the stock. Wells Fargo & Company decreased their price target on shares of CSW Industrials from $300.00 to $280.00 and set an “equal weight” rating on the stock in a report on Monday, February 2nd. Finally, Citigroup decreased their price target on shares of CSW Industrials from $333.00 to $307.00 and set a “neutral” rating on the stock in a report on Friday, January 30th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, CSW Industrials has a consensus rating of “Hold” and a consensus target price of $328.43.

CSW Industrials Stock Up 2.5%

Shares of CSW opened at $297.68 on Monday. The firm has a market cap of $4.90 billion, a PE ratio of 39.48 and a beta of 0.84. The company’s fifty day moving average is $280.87 and its two-hundred day moving average is $279.80. CSW Industrials has a fifty-two week low of $230.45 and a fifty-two week high of $338.90. The company has a quick ratio of 0.97, a current ratio of 2.36 and a debt-to-equity ratio of 0.72.

CSW Industrials (NYSE:CSW) last announced its quarterly earnings results on Thursday, January 29th. The basic materials company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.51). The company had revenue of $232.99 million during the quarter, compared to analyst estimates of $249.36 million. CSW Industrials had a net margin of 12.64% and a return on equity of 14.55%. Analysts forecast that CSW Industrials will post 9.9 earnings per share for the current year.

CSW Industrials Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Friday, April 24th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, April 24th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.4%. This is a boost from CSW Industrials’s previous quarterly dividend of $0.27. CSW Industrials’s payout ratio is 14.32%.

Insider Buying and Selling at CSW Industrials

In other news, CEO Joseph B. Armes sold 1,500 shares of the firm’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $286.77, for a total value of $430,155.00. Following the transaction, the chief executive officer owned 84,494 shares of the company’s stock, valued at approximately $24,230,344.38. This trade represents a 1.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Darron K. Ash bought 300 shares of the business’s stock in a transaction dated Friday, March 13th. The stock was acquired at an average cost of $256.62 per share, for a total transaction of $76,986.00. Following the purchase, the director owned 1,155 shares in the company, valued at approximately $296,396.10. This trade represents a 35.09% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders sold 3,173 shares of company stock worth $905,981. 1.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CSW Industrials

A number of hedge funds have recently made changes to their positions in CSW. Arax Advisory Partners purchased a new position in shares of CSW Industrials in the 4th quarter valued at $28,000. Danske Bank A S purchased a new position in shares of CSW Industrials in the 4th quarter valued at $29,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in CSW Industrials during the 4th quarter worth $31,000. Global Retirement Partners LLC purchased a new stake in CSW Industrials during the 4th quarter worth $31,000. Finally, CWM LLC purchased a new stake in CSW Industrials during the 4th quarter worth $32,000. Hedge funds and other institutional investors own 82.79% of the company’s stock.

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.