Legal & General Group Plc Purchases New Holdings in CSW Industrials, Inc. $CSW

Legal & General Group Plc acquired a new position in shares of CSW Industrials, Inc. (NYSE:CSW) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 36,611 shares of the basic materials company’s stock, valued at approximately $10,191,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Valley Wealth Managers Inc. bought a new stake in shares of CSW Industrials in the 1st quarter worth approximately $26,000. Arax Advisory Partners bought a new position in CSW Industrials during the 4th quarter valued at approximately $28,000. Danske Bank A S purchased a new position in CSW Industrials during the fourth quarter valued at $29,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in CSW Industrials in the second quarter worth $29,000. Finally, Global Retirement Partners LLC purchased a new stake in shares of CSW Industrials in the second quarter worth $31,000. Institutional investors own 82.79% of the company’s stock.

Insider Buying and Selling

In related news, EVP Jeff Underwood sold 720 shares of the firm’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 transaction, the executive vice president owned 6,409 shares of the company’s stock, valued at approximately $2,223,666.64. This trade represents a 10.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 sale, the chief executive officer owned 69,100 shares of the company’s stock, valued at $19,314,832. This trade represents a 2.12% 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. Company insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CSW. Weiss Ratings upgraded shares of CSW Industrials from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 3rd. Zacks Research cut shares of CSW Industrials from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Citigroup boosted their price objective on shares of CSW Industrials from $304.00 to $340.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. JPMorgan Chase & Co. lifted their target price on CSW Industrials from $350.00 to $380.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Finally, Wells Fargo & Company lifted their price objective on CSW Industrials from $285.00 to $320.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, CSW Industrials currently has a consensus rating of “Moderate Buy” and a consensus price target of $347.57.

CSW Industrials Stock Down 3.0%

CSW Industrials stock opened at $308.87 on Tuesday. The stock has a market cap of $5.03 billion, a PE ratio of 42.37 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 stock has a fifty day moving average of $305.68 and a 200 day moving average of $287.86.

CSW Industrials (NYSE:CSW) last announced 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 for the quarter. CSW Industrials had a return on equity of 17.41% and a net margin of 10.34%.CSW Industrials’s revenue for the quarter was up 33.0% compared to the same quarter last year. As a group, sell-side analysts predict that CSW Industrials, Inc. will post 12.77 EPS for the current year.

CSW Industrials Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Friday, July 31st. CSW Industrials’s dividend payout ratio is 16.46%.

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.