CSW Industrials (NASDAQ:CSWI) Reaches New 52-Week High – Here’s What Happened

Shares of CSW Industrials, Inc. (NASDAQ:CSWI) hit a new 52-week high during trading on Wednesday . The stock traded as high as $378.49 and last traded at $376.99, with a volume of 34842 shares. The stock had previously closed at $370.60.

Wall Street Analysts Forecast Growth

CSWI has been the topic of a number of research reports. StockNews.com downgraded shares of CSW Industrials from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. CL King assumed coverage on shares of CSW Industrials in a research report on Friday, June 21st. They issued a “buy” rating for the company.

CSW Industrials Trading Up 2.0 %

The firm has a market capitalization of $5.87 billion, a price-to-earnings ratio of 57.36, a price-to-earnings-growth ratio of 2.87 and a beta of 0.77. The company has a quick ratio of 1.44, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The business’s fifty day moving average is $331.05 and its 200 day moving average is $282.47.

CSW Industrials (NASDAQ:CSWI) last posted its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.29. The company had revenue of $226.18 million during the quarter, compared to analysts’ expectations of $215.40 million. CSW Industrials had a return on equity of 19.19% and a net margin of 13.44%. During the same period in the prior year, the firm earned $1.97 earnings per share. Equities analysts predict that CSW Industrials, Inc. will post 8.42 earnings per share for the current year.

CSW Industrials Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date of this dividend was Friday, July 26th. CSW Industrials’s payout ratio is currently 12.86%.

Insider Activity at CSW Industrials

In other CSW Industrials news, CEO Joseph B. Armes sold 1,000 shares of CSW Industrials stock in a transaction on Monday, September 16th. The shares were sold at an average price of $341.37, for a total transaction of $341,370.00. Following the completion of the transaction, the chief executive officer now directly owns 51,579 shares of the company’s stock, valued at $17,607,523.23. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.40% of the stock is owned by company insiders.

Institutional Trading of CSW Industrials

Hedge funds have recently added to or reduced their stakes in the company. USA Financial Formulas bought a new stake in shares of CSW Industrials in the third quarter valued at about $119,000. Azzad Asset Management Inc. ADV boosted its holdings in CSW Industrials by 1.0% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 3,876 shares of the basic materials company’s stock valued at $1,420,000 after purchasing an additional 40 shares during the period. GAMMA Investing LLC grew its position in shares of CSW Industrials by 105.9% during the 3rd quarter. GAMMA Investing LLC now owns 70 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 36 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in shares of CSW Industrials by 62.3% during the third quarter. Handelsbanken Fonder AB now owns 5,469 shares of the basic materials company’s stock worth $2,004,000 after purchasing an additional 2,100 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of CSW Industrials in the second quarter valued at approximately $1,592,000. 82.79% of the stock is owned by institutional investors and hedge funds.

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.