Fifth Third Bancorp Grows Stake in CSW Industrials, Inc. $CSW

Fifth Third Bancorp boosted its holdings in shares of CSW Industrials, Inc. (NYSE:CSW) by 19,565.8% during the 1st quarter, Holdings Channel reports. The firm owned 81,023 shares of the basic materials company’s stock after buying an additional 80,611 shares during the period. Fifth Third Bancorp’s holdings in CSW Industrials were worth $21,113,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Nicholas Company Inc. purchased a new position in shares of CSW Industrials during the fourth quarter valued at about $3,290,000. B. Metzler seel. Sohn & Co. AG purchased a new stake in shares of CSW Industrials in the fourth quarter worth about $3,635,000. Mawer Investment Management Ltd. purchased a new stake in shares of CSW Industrials in the fourth quarter worth about $4,454,000. Moody Aldrich Partners LLC bought a new position in CSW Industrials during the fourth quarter valued at approximately $5,149,000. Finally, Norges Bank bought a new position in CSW Industrials during the fourth quarter valued at approximately $86,425,000. 82.79% of the stock is owned by hedge funds and other institutional investors.

CSW Industrials Stock Up 0.7%

Shares of NYSE CSW opened at $283.04 on Tuesday. The company has a current ratio of 2.60, a quick ratio of 1.23 and a debt-to-equity ratio of 0.80. CSW Industrials, Inc. has a 12-month low of $230.45 and a 12-month high of $337.02. The firm’s 50-day moving average price is $273.37 and its 200-day moving average price is $284.81. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 42.37 and a beta of 0.84.

CSW Industrials (NYSE:CSW) last released its quarterly earnings results on Tuesday, May 26th. The basic materials company reported $3.14 EPS for the quarter, topping the consensus estimate of $2.34 by $0.80. CSW Industrials had a return on equity of 15.91% and a net margin of 10.35%.The company had revenue of $308.96 million during the quarter. The company’s quarterly revenue was up 34.0% compared to the same quarter last year. On average, equities research analysts anticipate that CSW Industrials, Inc. will post 12.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Citigroup cut their price target on CSW Industrials from $307.00 to $304.00 and set a “neutral” rating for the company in a report on Wednesday, May 27th. Zacks Research raised CSW Industrials from a “hold” rating to a “strong-buy” rating in a report on Monday, June 8th. Truist Financial increased their target price on CSW Industrials from $300.00 to $313.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. Weiss Ratings raised shares of CSW Industrials from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Finally, Wells Fargo & Company raised their target price on shares of CSW Industrials from $280.00 to $285.00 and gave the company an “equal weight” rating in a report on Wednesday, May 27th. Three equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $330.43.

Insider Activity

In other 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 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 document filed with the SEC, 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 shares were 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 approximately $19,314,832. This represents a 2.12% decrease in their position. 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 sold 5,673 shares of company stock valued at $1,616,785 in the last ninety days. Insiders own 1.30% of the company’s stock.

CSW Industrials Profile

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.