Wells Fargo & Company Issues Pessimistic Forecast for CSW Industrials (NASDAQ:CSWI) Stock Price

CSW Industrials (NASDAQ:CSWI) had its target price lowered by Wells Fargo & Company from $425.00 to $410.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the basic materials company’s stock.

CSWI has been the subject of a number of other reports. Citigroup upgraded shares of CSW Industrials to a “hold” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group initiated coverage on shares of CSW Industrials in a report on Friday, December 6th. They issued a “neutral” rating and a $450.00 price target for the company. Finally, StockNews.com raised shares of CSW Industrials from a “hold” rating to a “buy” rating in a report on Friday, December 6th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $430.00.

CSW Industrials Price Performance

Shares of NASDAQ:CSWI opened at $379.74 on Tuesday. The firm has a market capitalization of $6.39 billion, a P/E ratio of 51.60 and a beta of 0.81. The business’s 50-day moving average is $397.24 and its 200 day moving average is $336.52. CSW Industrials has a 1 year low of $199.20 and a 1 year high of $436.50.

CSW Industrials Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, October 25th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.25%. This is a boost from CSW Industrials’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Friday, October 25th. CSW Industrials’s payout ratio is presently 13.04%.

Insider Transactions at CSW Industrials

In other news, SVP Luke Alverson sold 1,416 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $387.15, for a total value of $548,204.40. Following the completion of the transaction, the senior vice president now owns 17,156 shares of the company’s stock, valued at $6,641,945.40. The trade was a 7.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Don Sullivan sold 1,965 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $387.15, for a total value of $760,749.75. Following the sale, the executive vice president now directly owns 30,804 shares in the company, valued at approximately $11,925,768.60. This trade represents a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,381 shares of company stock worth $2,496,864 over the last 90 days. 1.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. State Street Corp increased its holdings in shares of CSW Industrials by 71.7% during the 3rd quarter. State Street Corp now owns 612,696 shares of the basic materials company’s stock valued at $224,486,000 after purchasing an additional 255,849 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC purchased a new position in CSW Industrials in the second quarter valued at $65,595,000. Principal Financial Group Inc. raised its position in shares of CSW Industrials by 1,046.2% in the third quarter. Principal Financial Group Inc. now owns 84,991 shares of the basic materials company’s stock worth $31,140,000 after acquiring an additional 77,576 shares during the period. Loomis Sayles & Co. L P purchased a new stake in shares of CSW Industrials during the 3rd quarter worth about $25,589,000. Finally, Franklin Resources Inc. grew its position in shares of CSW Industrials by 2,006.7% during the 3rd quarter. Franklin Resources Inc. now owns 57,617 shares of the basic materials company’s stock valued at $22,702,000 after acquiring an additional 54,882 shares during the period. 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.