Granite Investment Partners LLC Invests $7.58 Million in CSW Industrials, Inc. $CSW

Granite Investment Partners LLC bought a new position in CSW Industrials, Inc. (NYSE:CSW) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 29,080 shares of the basic materials company’s stock, valued at approximately $7,578,000. Granite Investment Partners LLC owned 0.18% of CSW Industrials as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. purchased a new stake in shares of CSW Industrials during the fourth quarter worth about $515,553,000. Capital World Investors bought a new position in CSW Industrials during the 4th quarter valued at approximately $308,934,000. Wasatch Advisors LP raised its position in CSW Industrials by 31.1% during the 1st quarter. Wasatch Advisors LP now owns 873,659 shares of the basic materials company’s stock valued at $227,658,000 after purchasing an additional 207,186 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in CSW Industrials in the 4th quarter worth approximately $237,891,000. Finally, Morgan Stanley purchased a new stake in CSW Industrials in the 4th quarter worth approximately $196,549,000. 82.79% of the stock is currently owned by institutional investors.

CSW Industrials Trading Up 0.2%

CSW opened at $271.99 on Thursday. 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, Inc. has a 52 week low of $230.45 and a 52 week high of $337.02. The stock has a market cap of $4.44 billion, a PE ratio of 40.72 and a beta of 0.84. The business has a 50 day moving average of $274.02 and a 200-day moving average of $285.43.

CSW Industrials (NYSE:CSW) last issued 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 company 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% compared to the same quarter last year. Equities research analysts predict that CSW Industrials, Inc. will post 12.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Don Sullivan sold 166 shares of CSW Industrials stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $300.26, for a total transaction of $49,843.16. Following the completion of the transaction, the executive vice president directly owned 21,567 shares in the company, valued at approximately $6,475,707.42. This trade represents a 0.76% decrease in their ownership of the stock. The transaction 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 business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $289.57, for a total value of $291,596.99. Following the completion of the sale, the senior vice president directly owned 12,450 shares in the company, valued at approximately $3,605,146.50. This represents a 7.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 5,673 shares of company stock worth $1,616,785 in the last three months. 1.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CSW. Weiss Ratings upgraded CSW Industrials from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Truist Financial lifted their price target on shares of CSW Industrials from $300.00 to $313.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. Zacks Research raised shares of CSW Industrials from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 8th. Wells Fargo & Company upped their price objective on shares of CSW Industrials from $280.00 to $285.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 27th. Finally, Citigroup dropped their target price 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. Three investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $330.43.

CSW Industrials Company 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.