CSW Industrials (NYSE:CSW) Shares Gap Down – Here’s What Happened

CSW Industrials, Inc. (NYSE:CSW) shares gapped down prior to trading on Monday . The stock had previously closed at $335.19, but opened at $322.08. CSW Industrials shares last traded at $317.10, with a volume of 1,282 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CSW. Truist Financial boosted their price target on CSW Industrials from $273.00 to $276.00 and gave the company a “hold” rating in a report on Wednesday, October 8th. Jefferies Financial Group set a $350.00 target price on shares of CSW Industrials in a research note on Wednesday, December 3rd. JPMorgan Chase & Co. upgraded shares of CSW Industrials from a “neutral” rating to an “overweight” rating and raised their price target for the company from $300.00 to $350.00 in a research report on Wednesday, December 3rd. The Goldman Sachs Group lifted their price objective on shares of CSW Industrials from $302.00 to $333.00 and gave the company a “neutral” rating in a report on Tuesday, January 13th. Finally, CJS Securities raised shares of CSW Industrials to a “strong-buy” rating in a research note on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, CSW Industrials presently has an average rating of “Hold” and a consensus price target of $323.67.

CSW Industrials Stock Performance

The stock has a 50 day moving average of $299.71 and a two-hundred day moving average of $273.14. The stock has a market capitalization of $5.27 billion, a PE ratio of 37.08 and a beta of 0.82. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.76 and a quick ratio of 1.32.

CSW Industrials (NYSE:CSW) last released its quarterly earnings data on Thursday, October 30th. The basic materials company reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.73 by $0.23. CSW Industrials had a return on equity of 14.74% and a net margin of 14.88%. Research analysts expect that CSW Industrials, Inc. will post 8.49 EPS for the current fiscal year.

CSW Industrials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be given a $0.27 dividend. The ex-dividend date is Friday, January 30th. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. CSW Industrials’s dividend payout ratio is currently 12.68%.

Insider Activity

In related news, CEO Joseph B. Armes sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $328.64, for a total value of $328,640.00. Following the sale, the chief executive officer owned 62,526 shares of the company’s stock, valued at approximately $20,548,544.64. This represents a 1.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Don Sullivan sold 4,136 shares of the firm’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $301.41, for a total value of $1,246,631.76. Following the completion of the sale, the executive vice president directly owned 18,196 shares in the company, valued at approximately $5,484,456.36. The trade was a 18.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 9,366 shares of company stock worth $2,731,813. 1.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Congress Asset Management Co. acquired a new stake in shares of CSW Industrials in the fourth quarter worth $65,002,000. Vaughan Nelson Investment Management L.P. purchased a new position in CSW Industrials in the fourth quarter valued at about $53,434,000. Allspring Global Investments Holdings LLC purchased a new position in CSW Industrials in the fourth quarter valued at about $41,461,000. SG Americas Securities LLC acquired a new position in shares of CSW Industrials during the fourth quarter worth about $39,915,000. Finally, Riverbridge Partners LLC purchased a new stake in shares of CSW Industrials in the fourth quarter worth about $38,280,000. Hedge funds and other institutional investors own 82.79% of the company’s stock.

About CSW Industrials

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.