CSW Industrials (NASDAQ:CSWI) Earns Equal Weight Rating from Analysts at Wells Fargo & Company

Wells Fargo & Company assumed coverage on shares of CSW Industrials (NASDAQ:CSWI) in a research note released on Monday morning, Marketbeat.com reports. The firm issued an equal weight rating and a $425.00 price target on the basic materials company’s stock.

A number of other analysts also recently issued reports on CSWI. StockNews.com downgraded shares of CSW Industrials from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. Citigroup raised shares of CSW Industrials to a “hold” rating in a research report on Wednesday, November 13th.

CSW Industrials Stock Performance

Shares of CSW Industrials stock opened at $417.23 on Monday. The firm has a market cap of $7.02 billion, a PE ratio of 56.69, a P/E/G ratio of 3.46 and a beta of 0.78. The business’s 50 day simple moving average is $385.50 and its 200 day simple moving average is $321.09. CSW Industrials has a 52-week low of $172.97 and a 52-week high of $436.50.

CSW Industrials Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, October 25th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.23%. This is a boost from CSW Industrials’s previous quarterly dividend of $0.21. CSW Industrials’s dividend payout ratio is currently 13.04%.

Insider Activity at CSW Industrials

In other CSW Industrials news, CEO Joseph B. Armes sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $404.79, for a total value of $404,790.00. Following the sale, the chief executive officer now owns 50,698 shares in the company, valued at $20,522,043.42. This represents a 1.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders sold 3,000 shares of company stock valued at $1,139,500. 1.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CSW Industrials

Several institutional investors and hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. lifted its stake 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 worth $22,702,000 after buying an additional 54,882 shares during the last quarter. Tidal Investments LLC lifted its position in CSW Industrials by 142.7% during the third quarter. Tidal Investments LLC now owns 3,526 shares of the basic materials company’s stock worth $1,292,000 after acquiring an additional 2,073 shares during the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of CSW Industrials by 58.5% during the third quarter. Sanctuary Advisors LLC now owns 3,768 shares of the basic materials company’s stock worth $1,381,000 after acquiring an additional 1,390 shares during the period. Anchor Investment Management LLC grew its position in shares of CSW Industrials by 2.5% in the third quarter. Anchor Investment Management LLC now owns 1,287 shares of the basic materials company’s stock valued at $472,000 after purchasing an additional 32 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of CSW Industrials by 7.4% during the third quarter. Geode Capital Management LLC now owns 388,954 shares of the basic materials company’s stock worth $142,536,000 after purchasing an additional 26,728 shares during the period. 82.79% of the stock is currently 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.