CSW Industrials (NASDAQ:CSWI) Cut to Hold at StockNews.com

StockNews.com downgraded shares of CSW Industrials (NASDAQ:CSWI) from a buy rating to a hold rating in a research note released on Thursday.

CSW Industrials Stock Down 0.9 %

CSWI opened at $403.98 on Thursday. The firm has a market cap of $6.79 billion, a P/E ratio of 54.89, a PEG ratio of 3.32 and a beta of 0.78. The business’s fifty day simple moving average is $372.75 and its 200 day simple moving average is $311.54. CSW Industrials has a 52 week low of $167.81 and a 52 week high of $428.46.

CSW Industrials Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, October 25th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, October 25th. This is an increase from CSW Industrials’s previous quarterly dividend of $0.21. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.24%. CSW Industrials’s payout ratio is 13.04%.

Insider Activity at CSW Industrials

In related news, CEO Joseph B. Armes sold 1,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $393.34, for a total value of $393,340.00. Following the completion of the transaction, the chief executive officer now directly owns 51,698 shares in the company, valued at approximately $20,334,891.32. This represents a 1.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 3,000 shares of company stock valued at $1,139,500. Company insiders own 1.40% of the company’s stock.

Institutional Trading of CSW Industrials

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CSWI. Geode Capital Management LLC lifted its holdings in shares of CSW Industrials by 7.4% during the 3rd quarter. Geode Capital Management LLC now owns 388,954 shares of the basic materials company’s stock worth $142,536,000 after acquiring an additional 26,728 shares during the period. Barclays PLC raised its stake in CSW Industrials by 431.2% during the third quarter. Barclays PLC now owns 29,272 shares of the basic materials company’s stock worth $10,725,000 after purchasing an additional 23,761 shares during the period. MML Investors Services LLC raised its stake in CSW Industrials by 4.8% during the third quarter. MML Investors Services LLC now owns 1,612 shares of the basic materials company’s stock worth $591,000 after purchasing an additional 74 shares during the period. Kensington Investment Counsel LLC boosted its holdings in shares of CSW Industrials by 2.8% in the 3rd quarter. Kensington Investment Counsel LLC now owns 8,817 shares of the basic materials company’s stock valued at $3,230,000 after purchasing an additional 239 shares during the last quarter. Finally, Zimmer Partners LP purchased a new stake in shares of CSW Industrials during the 3rd quarter valued at $18,796,000. Hedge funds and other institutional investors own 82.79% of the company’s stock.

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.