MGB Wealth Management LLC Invests $485,000 in CSW Industrials, Inc. (NASDAQ:CSWI)

MGB Wealth Management LLC acquired a new position in shares of CSW Industrials, Inc. (NASDAQ:CSWI) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,325 shares of the basic materials company’s stock, valued at approximately $485,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Algert Global LLC boosted its position in shares of CSW Industrials by 43.5% during the third quarter. Algert Global LLC now owns 2,244 shares of the basic materials company’s stock worth $822,000 after buying an additional 680 shares during the period. Citigroup Inc. boosted its position in shares of CSW Industrials by 367.6% during the third quarter. Citigroup Inc. now owns 20,816 shares of the basic materials company’s stock worth $7,627,000 after buying an additional 16,364 shares during the period. Charles Schwab Investment Management Inc. lifted its position in CSW Industrials by 13.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 168,369 shares of the basic materials company’s stock worth $61,689,000 after purchasing an additional 19,659 shares during the period. Intech Investment Management LLC acquired a new stake in CSW Industrials in the third quarter worth approximately $1,732,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in CSW Industrials by 81.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 26,322 shares of the basic materials company’s stock worth $9,644,000 after purchasing an additional 11,787 shares during the period. 82.79% of the stock is currently owned by institutional investors and hedge funds.

CSW Industrials Stock Performance

Shares of NASDAQ:CSWI opened at $426.66 on Friday. CSW Industrials, Inc. has a one year low of $172.97 and a one year high of $428.46. The stock has a fifty day moving average of $382.05 and a 200-day moving average of $317.58. The company has a market capitalization of $7.18 billion, a PE ratio of 57.97, a price-to-earnings-growth ratio of 3.33 and a beta of 0.78.

CSW Industrials Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, October 25th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date was Friday, October 25th. This is an increase from CSW Industrials’s previous quarterly dividend of $0.21. CSW Industrials’s dividend payout ratio is 13.04%.

Insider Activity

In other CSW Industrials news, CEO Joseph B. Armes sold 1,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $393.34, for a total transaction of $393,340.00. Following the sale, the chief executive officer now directly owns 51,698 shares of the company’s stock, valued at $20,334,891.32. The trade was a 1.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 3,000 shares of company stock worth $1,139,500. Insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on CSWI. StockNews.com downgraded CSW Industrials from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. Citigroup upgraded CSW Industrials to a “hold” rating in a research report on Wednesday, November 13th.

About CSW Industrials

CSW Industrials, Inc operates as a diversified industrial company in the United States and internationally. It operates through three segments: Contractor Solutions, Engineered Building Solutions, and Specialized Reliability Solutions. The Contractor Solutions segment provides condensate pads, pans, pumps, switches, and traps; cements, diffusers, grilles, registers, solvents, thread sealants, and vents; line set covers; refrigerant caps; wire pulling head tools; electrical protection, chemical maintenance, and installation supplies for HVAC; ductless mini-split systems installation support tools and accessories; and drain waste and vent system products for use in HVAC/R, plumbing, general industrial, architecturally specified building products.