CSW Industrials, Inc. will post earnings of $1.85 per share in the second quarter of 2023, according to Barrington Research forecast (NASDAQ:CSWI)

CSW Industrials, Inc. (NASDAQ:CSWI – Get Rating) – Barrington Research raised its second quarter 2023 earnings per share (EPS) estimates for CSW Industrials in a research note released Tuesday, August 9. Barrington Research analyst C. Howe now expects the basic materials company to post earnings of $1.85 per share for the quarter, up from its previous estimate of $1.39. The consensus estimate for CSW Industrials‘ current annual earnings is $5.15 per share. Barrington Research also released estimates of CSW Industrials fiscal year 2023 earnings at $6.19 EPS and fiscal year 2024 earnings at $6.51 EPS.

CSW Industrials (NASDAQ:CSWI – Get Rating) last released its results on Wednesday, May 18. The basic materials company reported earnings per share of $1.17 for the quarter, beating the consensus estimate of $1.04 by $0.13. The company posted revenue of $173.30 million in the quarter, compared to $150.19 million expected by analysts. CSW Industrials had a return on equity of 16.10% and a net margin of 11.16%. In the same quarter of the previous year, the company had earned earnings per share of $0.88.

Separately, StockNews.com upgraded CSW Industrials from a “buy” rating to a “hold” rating in a Monday, Aug. 8 research note.

CSW Industrials Price Performance

CSWI stock opened at $142.44 on Friday. The company has a 50-day moving average price of $110.33 and a 200-day moving average price of $111.67. The stock has a market capitalization of $2.20 billion, a price-earnings ratio of 30.24 and a beta of 0.84. CSW Industrials has a fifty-two week low of $96.03 and a fifty-two week high of $145.50. The company has a quick ratio of 1.28, a current ratio of 2.72 and a leverage ratio of 0.59.

CSW Industrials Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 12. Shareholders of record on Friday, July 29 received a dividend of $0.17. This represents a dividend of $0.68 on an annualized basis and a yield of 0.48%. The ex-dividend date was Thursday, July 28. CSW Industrials’ dividend payout ratio is currently 14.44%.

Insider Buying and Selling at CSW Industrials

In other CSW Industrials news, CEO Joseph B. Armes sold 500 shares of the company in a trade that took place Friday, July 29. The stock was sold at an average price of $120.10, for a total value of $60,050.00. Following the completion of the sale, the CEO now owns 72,196 shares of the company, valued at $8,670,739.60. The sale was disclosed in a document filed with the SEC, which is available via this link. Separately, CEO Joseph B. Armes sold 500 shares of the company in a trade that took place on Friday, July 29. The stock was sold at an average price of $120.10, for a total transaction of $60,050.00. Following the completion of the sale, the CEO now owns 72,196 shares of the company, valued at $8,670,739.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, CEO Joseph B. Armes sold 6,073 shares of the company in a trade that took place on Monday, August 1. The stock was sold at an average price of $120.44, for a total value of $731,432.12. Following the sale, the CEO now owns 66,123 shares of the company, valued at approximately $7,963,854.12. The disclosure of this sale can be found here. 1.40% of the shares are held by insiders of the company.

Institutional investors weigh in on CSW Industrials

Several large investors have recently changed their stock holdings. Neuberger Berman Group LLC increased its stake in CSW Industrials by 5.0% during the first quarter. Neuberger Berman Group LLC now owns 974,764 shares of the basic materials company worth $114,623,000 after acquiring an additional 46,630 shares during the period. JPMorgan Chase & Co. increased its stake in CSW Industrials by 165.4% during the fourth quarter. JPMorgan Chase & Co. now owns 70,938 shares of the basic materials company worth $8,573,000 after acquiring 44,211 additional shares during the period. Aaron Wealth Advisors LLC acquired a new position in CSW Industrials during the first quarter worth $251,000. Eaton Vance Management increased its stake in CSW Industrials by 6.1% during the first quarter. Eaton Vance Management now owns 427,644 shares of the basic materials company worth $50,287,000 after acquiring an additional 24,604 shares during the period. Finally, Renaissance Technologies LLC increased its stake in CSW Industrials by 153.2% during the second quarter. Renaissance Technologies LLC now owns 39,500 shares of the basic materials company worth $4,070,000 after acquiring an additional 23,900 shares during the period. Hedge funds and other institutional investors hold 76.27% of the company’s shares.

About CSW Industrials

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CSW Industrials, Inc. operates as a diversified industrial company in the United States and internationally. It operates through three segments: Contractor Solutions, Engineering Construction Solutions and Specialty Reliability Solutions. The Contractor Solutions segment provides cements, diffusers, grates, dampers, solvents, thread sealants, traps and vents for use in HVAC/R, plumbing, general industrial, architectural and construction specified.

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