Bessemer Group Inc. Sells 59,920 Shares of CSW Industrials, Inc. $CSW

Bessemer Group Inc. trimmed its stake in shares of CSW Industrials, Inc. (NYSE:CSW) by 57.2% during the first quarter, Holdings Channel.com reports. The firm owned 44,780 shares of the basic materials company’s stock after selling 59,920 shares during the period. Bessemer Group Inc.’s holdings in CSW Industrials were worth $11,669,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Arax Advisory Partners acquired a new stake in shares of CSW Industrials in the fourth quarter valued at approximately $28,000. Danske Bank A S acquired a new position in CSW Industrials during the 4th quarter worth $29,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in CSW Industrials during the 4th quarter worth $31,000. Global Retirement Partners LLC bought a new position in CSW Industrials in the 4th quarter valued at $31,000. Finally, CWM LLC bought a new position in CSW Industrials in the 4th quarter valued at $32,000. 82.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

CSW Industrials Stock Performance

Shares of CSW Industrials stock opened at $279.11 on Monday. The firm has a fifty day moving average of $274.66 and a two-hundred day moving average of $284.38. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.23 and a current ratio of 2.60. 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.

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

CSW Industrials Announces Dividend

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

Insider Transactions at CSW Industrials

In other CSW Industrials news, SVP Luke Alverson sold 1,007 shares of the firm’s 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 owned 12,450 shares in the company, valued at approximately $3,605,146.50. This trade represents a 7.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Joseph B. Armes sold 1,500 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $279.52, for a total value of $419,280.00. Following the transaction, the chief executive officer owned 69,100 shares of the company’s stock, valued at $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. In the last 90 days, insiders have sold 4,007 shares of company stock worth $1,136,787. Company insiders own 1.30% of the company’s stock.

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.