Allspring Global Investments Holdings LLC Sells 9,289 Shares of CSW Industrials, Inc. $CSW

Allspring Global Investments Holdings LLC decreased its position in CSW Industrials, Inc. (NYSE:CSW) by 6.6% during the 1st quarter, Holdings Channel reports. The firm owned 131,241 shares of the basic materials company’s stock after selling 9,289 shares during the period. Allspring Global Investments Holdings LLC’s holdings in CSW Industrials were worth $34,167,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. bought a new position in CSW Industrials during the 4th quarter valued at approximately $515,553,000. Capital World Investors purchased a new position in CSW Industrials during the 4th quarter valued at $308,934,000. Wasatch Advisors LP increased its position in shares of CSW Industrials by 31.1% during the first quarter. Wasatch Advisors LP now owns 873,659 shares of the basic materials company’s stock valued at $227,658,000 after buying an additional 207,186 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new position in shares of CSW Industrials during the fourth quarter valued at about $237,891,000. Finally, Morgan Stanley bought a new position in shares of CSW Industrials in the 4th quarter worth approximately $196,549,000. 82.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Luke Alverson sold 1,007 shares of CSW Industrials stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $289.57, for a total transaction of $291,596.99. Following the transaction, the senior vice president directly owned 12,450 shares of the company’s stock, valued at $3,605,146.50. The trade was a 7.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Joseph B. Armes sold 1,500 shares of CSW Industrials stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $279.52, for a total value of $419,280.00. Following the transaction, the chief executive officer directly owned 69,100 shares in the company, valued at approximately $19,314,832. The trade was a 2.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 4,007 shares of company stock valued at $1,136,787. 1.30% of the stock is owned by corporate insiders.

CSW Industrials Trading Down 0.1%

Shares of NYSE:CSW opened at $279.11 on Monday. The stock’s 50-day simple moving average is $274.66 and its two-hundred day simple moving average is $284.38. The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of 41.78 and a beta of 0.84. CSW Industrials, Inc. has a 52-week low of $230.45 and a 52-week high of $337.02. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.23 and a current ratio of 2.60.

CSW Industrials (NYSE:CSW) last issued its quarterly earnings data on Tuesday, May 26th. The basic materials company reported $3.14 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.80. The firm had revenue of $308.96 million for the quarter. CSW Industrials had a net margin of 10.35% and a return on equity of 15.91%. The company’s revenue was up 34.0% on a year-over-year basis. Analysts expect that CSW Industrials, Inc. will post 12.52 EPS for the current year.

CSW Industrials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Friday, July 31st. CSW Industrials’s dividend payout ratio is currently 17.96%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CSW shares. Citigroup cut their price target on CSW Industrials from $307.00 to $304.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 27th. Truist Financial lifted their price objective on CSW Industrials from $300.00 to $313.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. Zacks Research upgraded shares of CSW Industrials from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 8th. Weiss Ratings cut CSW Industrials from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 14th. Finally, Wells Fargo & Company increased their target price on CSW Industrials from $280.00 to $285.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 27th. Three analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $330.43.

CSW Industrials 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.