CSW Industrials (NYSE:CSW) Shares Gap Up After Analyst Upgrade

CSW Industrials, Inc. (NYSE:CSW) shares gapped up before the market opened on Wednesday after JPMorgan Chase & Co. upgraded the stock from a neutral rating to an overweight rating. The stock had previously closed at $277.21, but opened at $288.30. JPMorgan Chase & Co. now has a $350.00 price target on the stock, up from their previous price target of $300.00. CSW Industrials shares last traded at $292.5340, with a volume of 20,753 shares trading hands.

A number of other brokerages also recently issued reports on CSW. Truist Financial lifted their price target on shares of CSW Industrials from $273.00 to $276.00 and gave the company a “hold” rating in a report on Wednesday, October 8th. Citigroup cut their price objective on CSW Industrials from $261.00 to $259.00 and set a “neutral” rating for the company in a research report on Monday, November 3rd. Jefferies Financial Group set a $350.00 target price on CSW Industrials in a report on Wednesday. Zacks Research downgraded CSW Industrials from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of CSW Industrials in a report on Monday. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $320.00.

Insider Buying and Selling

In other news, CEO Joseph B. Armes sold 1,000 shares of CSW Industrials stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $250.00, for a total value of $250,000.00. Following the completion of the transaction, the chief executive officer owned 65,493 shares in the company, valued at approximately $16,373,250. The trade was a 1.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James E. Perry sold 580 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $275.00, for a total value of $159,500.00. Following the transaction, the executive vice president directly owned 25,349 shares in the company, valued at approximately $6,970,975. This represents a 2.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 4,230 shares of company stock valued at $1,089,141. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Matrix Trust Co increased its position in CSW Industrials by 91.1% during the second quarter. Matrix Trust Co now owns 86 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 41 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of CSW Industrials by 517.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 105 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 88 shares during the period. Harbor Investment Advisory LLC grew its holdings in CSW Industrials by 27.3% during the 2nd quarter. Harbor Investment Advisory LLC now owns 275 shares of the basic materials company’s stock valued at $79,000 after purchasing an additional 59 shares during the last quarter. GAMMA Investing LLC grew its holdings in CSW Industrials by 44.6% during the 2nd quarter. GAMMA Investing LLC now owns 428 shares of the basic materials company’s stock valued at $123,000 after purchasing an additional 132 shares during the last quarter. Finally, Covestor Ltd raised its position in CSW Industrials by 81.6% in the 1st quarter. Covestor Ltd now owns 443 shares of the basic materials company’s stock worth $129,000 after purchasing an additional 199 shares during the period. 82.79% of the stock is owned by hedge funds and other institutional investors.

CSW Industrials Trading Down 0.7%

The company has a quick ratio of 1.32, a current ratio of 2.76 and a debt-to-equity ratio of 0.05. The firm has a market cap of $5.01 billion, a P/E ratio of 35.22 and a beta of 0.83. The company’s 50 day simple moving average is $250.52 and its 200-day simple moving average is $272.03.

CSW Industrials (NYSE:CSW) last released its earnings results on Thursday, October 30th. The basic materials company reported $2.96 EPS for the quarter, beating analysts’ consensus estimates of $2.73 by $0.23. CSW Industrials had a return on equity of 14.74% and a net margin of 14.88%. As a group, research analysts predict that CSW Industrials, Inc. will post 8.49 earnings per share for the current fiscal year.

CSW Industrials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Friday, October 31st. CSW Industrials’s dividend payout ratio is 12.68%.

CSW Industrials Company Profile

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.