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

CSW Industrials, Inc. (NYSE:CSW)’s stock price dropped 6.9% 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 daily volume of 147,323 shares. The stock had previously closed at $300.67.

Wall Street Analyst Weigh In

CSW has been the topic of several recent analyst reports. Truist Financial boosted their price objective on CSW Industrials from $300.00 to $313.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Zacks Research upgraded shares of CSW Industrials from a “hold” rating to a “strong-buy” rating in a report on Monday, June 8th. Weiss Ratings downgraded shares of CSW Industrials from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday. Wells Fargo & Company boosted their price target 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. Finally, Citigroup reduced 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. Three investment 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, the company presently has an average rating of “Moderate Buy” and an average price target of $330.43.

CSW Industrials Stock Down 7.2%

The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of 41.78 and a beta of 0.84. 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 50-day moving average of $274.66 and a two-hundred day moving average of $284.53.

CSW Industrials (NYSE:CSW) last announced its quarterly earnings data on Tuesday, May 26th. The basic materials company reported $3.14 earnings per share (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 firm had revenue of $308.96 million during the quarter. CSW Industrials’s quarterly revenue was up 34.0% on a year-over-year basis. As a group, sell-side analysts anticipate that CSW Industrials, Inc. will post 12.52 earnings per share for the current year.

CSW Industrials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, July 31st. CSW Industrials’s dividend payout ratio is 17.96%.

Insider Activity at CSW Industrials

In related news, SVP Luke Alverson sold 1,007 shares of the firm’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 in the company, valued at approximately $3,605,146.50. This trade represents a 7.48% decrease in their ownership of the stock. 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 transaction 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. Over the last 90 days, insiders have sold 4,007 shares of company stock valued at $1,136,787. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CSW Industrials

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

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.