Heron Bay Capital Management Purchases New Position in CSW Industrials, Inc. $CSW

Heron Bay Capital Management purchased a new position in CSW Industrials, Inc. (NYSE:CSW) in the second quarter, HoldingsChannel reports. The fund purchased 33,174 shares of the basic materials company’s stock, valued at approximately $9,232,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Valley Wealth Managers Inc. bought a new stake in CSW Industrials during the 1st quarter valued at approximately $26,000. Arax Advisory Partners bought a new position in shares of CSW Industrials in the 4th quarter worth approximately $28,000. Danske Bank A S bought a new position in shares of CSW Industrials in the 4th quarter worth approximately $29,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of CSW Industrials in the 2nd quarter valued at approximately $29,000. Finally, Global Retirement Partners LLC purchased a new position in shares of CSW Industrials in the 2nd quarter valued at approximately $31,000. 82.79% of the stock is currently owned by hedge funds and other institutional investors.

CSW Industrials Stock Performance

Shares of CSW stock opened at $329.84 on Friday. The company has a market capitalization of $5.37 billion, a price-to-earnings ratio of 45.25 and a beta of 0.83. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.36 and a current ratio of 2.70. CSW Industrials, Inc. has a one year low of $230.45 and a one year high of $355.48. The company’s 50-day moving average is $300.33 and its 200 day moving average is $286.24.

CSW Industrials (NYSE:CSW) last issued its earnings results on Thursday, July 30th. The basic materials company reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.66 by $0.18. The business had revenue of $350.65 million during the quarter. CSW Industrials had a net margin of 10.34% and a return on equity of 17.41%. The firm’s revenue was up 33.0% compared to the same quarter last year. Sell-side analysts expect that CSW Industrials, Inc. will post 12.77 EPS for the current fiscal year.

CSW Industrials Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $1.20 annualized dividend and a dividend yield of 0.4%. CSW Industrials’s dividend payout ratio (DPR) is 16.46%.

Insider Buying and Selling

In related news, 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 completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jeff Underwood sold 720 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $346.96, for a total value of $249,811.20. Following the completion of the transaction, the executive vice president directly owned 6,409 shares in the company, valued at $2,223,666.64. This trade represents a 10.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 3,720 shares of company stock valued at $1,095,001. 1.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Citigroup lifted their price target on CSW Industrials from $304.00 to $340.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Weiss Ratings raised CSW Industrials from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, August 3rd. Wells Fargo & Company boosted their target price on shares of CSW Industrials from $285.00 to $320.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. Zacks Research downgraded shares of CSW Industrials from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Finally, Truist Financial upped their target price on shares of CSW Industrials from $313.00 to $332.00 and gave the stock a “hold” rating in a research report on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $347.57.

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.