First Manhattan CO. LLC. Takes $80.26 Million Position in CSW Industrials, Inc. $CSW

First Manhattan CO. LLC. bought a new stake in CSW Industrials, Inc. (NYSE:CSW) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 273,420 shares of the basic materials company’s stock, valued at approximately $80,257,000. First Manhattan CO. LLC. owned approximately 1.66% of CSW Industrials as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Arax Advisory Partners acquired a new stake in shares of CSW Industrials in the fourth quarter valued at $28,000. Danske Bank A S bought a new position in CSW Industrials during the fourth quarter worth about $29,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in CSW Industrials during the fourth quarter worth about $31,000. Global Retirement Partners LLC bought a new position in CSW Industrials during the fourth quarter worth about $31,000. Finally, CWM LLC bought a new position in CSW Industrials during the fourth quarter worth about $32,000. 82.79% of the stock is currently owned by institutional investors and hedge funds.

CSW Industrials Stock Down 1.4%

NYSE:CSW opened at $271.30 on Thursday. The firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of 40.61 and a beta of 0.84. CSW Industrials, Inc. has a twelve month low of $230.45 and a twelve month high of $337.02. The stock’s 50 day moving average price is $278.12 and its two-hundred day moving average price is $287.99. The company has a quick ratio of 1.23, a current ratio of 2.60 and a debt-to-equity ratio of 0.80.

CSW Industrials (NYSE:CSW) last posted its quarterly earnings results on Tuesday, May 26th. The basic materials company reported $3.14 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.80. The firm had revenue of $308.96 million for the quarter. CSW Industrials had a return on equity of 15.91% and a net margin of 10.35%.The firm’s revenue for the quarter was up 34.0% on a year-over-year basis. Equities research analysts expect that CSW Industrials, Inc. will post 12.52 earnings per share for the current fiscal year.

CSW Industrials Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, April 24th were given a dividend of $0.30 per share. This is a positive change from CSW Industrials’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, April 24th. This represents a $1.20 annualized dividend and a dividend yield of 0.4%. CSW Industrials’s payout ratio is presently 17.96%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Weiss Ratings raised CSW Industrials from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Citigroup dropped their target price on CSW Industrials from $307.00 to $304.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 27th. Truist Financial dropped their target price on CSW Industrials from $301.00 to $300.00 and set a “hold” rating on the stock in a research report on Wednesday, May 27th. Zacks Research raised CSW Industrials from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 8th. Finally, Wells Fargo & Company lifted their target price on CSW Industrials from $280.00 to $285.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 27th. Three analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, CSW Industrials has a consensus rating of “Moderate Buy” and a consensus target price of $328.57.

Insiders Place Their Bets

In related news, EVP Don Sullivan sold 166 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $300.26, for a total transaction of $49,843.16. Following the transaction, the executive vice president directly owned 21,567 shares of the company’s stock, valued at approximately $6,475,707.42. The trade was a 0.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Joseph B. Armes sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $279.52, for a total value of $419,280.00. Following the transaction, the chief executive officer directly owned 69,100 shares in the company, valued at $19,314,832. The trade was a 2.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,680 shares of company stock valued at $1,884,758 in the last 90 days. 1.30% of the stock is currently owned by 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.