CSW Industrials (NYSE:CSW) Trading Down 6.9% – Here’s Why

Shares of CSW Industrials, Inc. (NYSE:CSW) dropped 6.9% during trading on Friday . The company traded as low as $281.15 and last traded at $279.8410. Approximately 154,419 shares traded hands during mid-day trading, an increase of 5% from the average session volume of 147,323 shares. The stock had previously closed at $300.67.

Analysts Set New Price Targets

A number of research firms have issued reports on CSW. Truist Financial upped their target price on shares of CSW Industrials from $300.00 to $313.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. Citigroup lowered their price target on shares of CSW Industrials from $307.00 to $304.00 and set a “neutral” rating for the company in a research report on Wednesday, May 27th. Zacks Research raised shares of CSW Industrials from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 8th. Weiss Ratings lowered shares of CSW Industrials from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday. Finally, Wells Fargo & Company raised their price objective on shares of CSW Industrials from $280.00 to $285.00 and gave the company an “equal weight” rating in a research note 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. According to MarketBeat, CSW Industrials currently has a consensus rating of “Moderate Buy” and a consensus price target of $330.43.

CSW Industrials Stock Down 6.4%

The business has a fifty day moving average of $274.50 and a 200 day moving average of $284.57. The company has a quick ratio of 1.23, a current ratio of 2.60 and a debt-to-equity ratio of 0.80. The firm has a market cap of $4.59 billion, a P/E ratio of 42.13 and a beta of 0.84.

CSW Industrials (NYSE:CSW) last issued its earnings results on Tuesday, May 26th. The basic materials company reported $3.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business’s quarterly revenue was up 34.0% compared to the same quarter last year. On average, equities research analysts predict that CSW Industrials, Inc. will post 12.52 EPS for the current year.

Insider Buying and Selling

In other CSW Industrials news, CEO Joseph B. Armes sold 1,500 shares of the company’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 completion of the sale, the chief executive officer owned 69,100 shares of the company’s stock, valued at approximately $19,314,832. This represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Luke Alverson sold 1,007 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $289.57, for a total transaction of $291,596.99. Following the completion of the sale, the senior vice president directly owned 12,450 shares of the company’s stock, valued at $3,605,146.50. The trade was a 7.48% 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 a total of 4,007 shares of company stock worth $1,136,787 over the last quarter. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CSW Industrials

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Handelsbanken Fonder AB grew its holdings in shares of CSW Industrials by 14.8% in the 2nd quarter. Handelsbanken Fonder AB now owns 5,589 shares of the basic materials company’s stock valued at $1,555,000 after buying an additional 720 shares during the period. Pacer Advisors Inc. raised its stake in CSW Industrials by 135.3% during the 1st quarter. Pacer Advisors Inc. now owns 819 shares of the basic materials company’s stock worth $213,000 after buying an additional 471 shares during the period. Empowered Funds LLC raised its stake in CSW Industrials by 25.2% during the 1st quarter. Empowered Funds LLC now owns 2,091 shares of the basic materials company’s stock worth $545,000 after buying an additional 421 shares during the period. Glenmede Trust Co. NA lifted its holdings in CSW Industrials by 9.7% during the first quarter. Glenmede Trust Co. NA now owns 6,382 shares of the basic materials company’s stock worth $1,663,000 after acquiring an additional 566 shares in the last quarter. Finally, Argent Capital Management LLC lifted its holdings in CSW Industrials by 58.7% during the first quarter. Argent Capital Management LLC now owns 3,246 shares of the basic materials company’s stock worth $846,000 after acquiring an additional 1,200 shares in the last quarter. 82.79% of the stock is owned by institutional investors.

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.