CSW Industrials, Inc. (NASDAQ:CSWI) to Issue Quarterly Dividend of $0.24

CSW Industrials, Inc. (NASDAQ:CSWI) announced a quarterly dividend on Thursday, January 16th,RTT News reports. Stockholders of record on Friday, January 31st will be given a dividend of 0.24 per share by the basic materials company on Friday, February 14th. This represents a $0.96 annualized dividend and a dividend yield of 0.25%. The ex-dividend date is Friday, January 31st.

CSW Industrials has increased its dividend by an average of 13.3% annually over the last three years. CSW Industrials has a payout ratio of 9.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect CSW Industrials to earn $9.59 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 10.0%.

CSW Industrials Price Performance

NASDAQ:CSWI opened at $390.21 on Friday. CSW Industrials has a one year low of $203.83 and a one year high of $436.50. The company has a fifty day moving average price of $388.48 and a 200 day moving average price of $352.36. The stock has a market cap of $6.56 billion, a P/E ratio of 53.02 and a beta of 0.85.

Wall Street Analysts Forecast Growth

CSWI has been the topic of several research reports. StockNews.com upgraded CSW Industrials from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Wells Fargo & Company reduced their target price on shares of CSW Industrials from $425.00 to $410.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Citigroup reduced their price target on shares of CSW Industrials from $466.00 to $404.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. Finally, The Goldman Sachs Group dropped their price objective on shares of CSW Industrials from $450.00 to $400.00 and set a “neutral” rating for the company in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $404.67.

Insider Buying and Selling at CSW Industrials

In other CSW Industrials news, EVP Don Sullivan sold 1,965 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $387.15, for a total transaction of $760,749.75. Following the completion of the sale, the executive vice president now directly owns 30,804 shares of the company’s stock, valued at approximately $11,925,768.60. The trade was a 6.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Joseph B. Armes sold 1,000 shares of CSW Industrials stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $389.78, for a total transaction of $389,780.00. Following the sale, the chief executive officer now owns 49,698 shares of the company’s stock, valued at approximately $19,371,286.44. This represents a 1.97 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,903 shares of company stock worth $3,777,538. 1.40% of the stock is currently owned by corporate insiders.

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.