Shares of CSW Industrials, Inc. (NASDAQ:CSWI) Acquired by the New York State Common Retirement Fund

By Juan S. Gallegos On Aug 18, 2022

The New York State Common Retirement Fund increased its holdings in CSW Industrials, Inc. (NASDAQ:CSWI – Get Rating) by 5.8% in the first quarter, according to its latest disclosure to the Securities & Exchange Commission. The fund held 11,139 shares of the basic materials company after buying an additional 615 shares during the period. The New York State Common Retirement Fund held 0.07% of CSW Industrials worth $1,310,000 when it last filed with the Securities & Exchange Commission.

Other hedge funds also changed their holdings in the company. UMB Bank NA MO acquired a new stake in shares of CSW Industrials in the fourth quarter valued at approximately $36,000. Elmwood Wealth Management Inc. bought a new stake in shares of CSW Industrials in the fourth quarter valued at around $50,000. Lazard Asset Management LLC increased its holdings of CSW Industrials shares by 13.2% in the fourth quarter. Lazard Asset Management LLC now owns 761 shares of the basic materials company valued at $91,000 after purchasing an additional 89 shares during the period. Janney Montgomery Scott LLC increased its holdings of CSW Industrials stock 13.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 1,810 shares of the basic materials company valued at $219,000 after buying 219 additional shares during the period. Finally, Teacher Retirement System of Texas increased its holdings of CSW Industrials shares by 18.8% in the fourth quarter. Teacher Retirement System of Texas now owns 2,847 shares of the basic materials company valued at $344,000 after buying 451 additional shares during the period. 76.27% of the shares are currently held by institutional investors and hedge funds.

CSW Industrials is trading down 0.1%

Shares of CSWI opened at $139.42 on Thursday. The company has a current ratio of 2.72, a quick ratio of 1.39 and a debt ratio of 0.59. The company has a market capitalization of $2.15 billion, a P/E ratio of 29.60 and a beta of 0.84. The company has a 50-day moving average price of $112.10 and a 200-day moving average price of $112.28. CSW Industrials, Inc. has a 12-month low of $96.03 and a 12-month high of $145.50.

CSW Industrials (NASDAQ:CSWI – Get Rating) last reported 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 analyst estimates of $150.19 million. CSW Industrials posted a net margin of 11.16% and a return on equity of 16.10%. In the same quarter last year, the company posted earnings per share of $0.88. Sell-side analysts expect CSW Industrials, Inc. to post EPS of 6.19 for the current year.

CSW Industrials Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 12. Shareholders of record on Friday, July 29 received a dividend of $0.17 per share. This represents an annualized dividend of $0.68 and a yield of 0.49%. The ex-dividend date was Thursday, July 28. CSW Industrials’ dividend payout ratio (DPR) is currently 14.44%.

Insiders place their bets

In other CSW Industrials news, CEO Joseph B. Armes sold 500 shares in a trade dated Friday, July 29. The shares were sold at an average price of $120.10, for a total transaction of $60,050.00. Following completion of the transaction, the CEO now owns 72,196 shares of the company, valued at $8,670,739.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Separately, CEO Joseph B. Armes sold 500 shares of the company in a trade that took place on Friday, July 29. The shares were sold at an average price of $120.10, for a total value of $60,050.00. Following completion of the transaction, the CEO now owns 72,196 shares of the company, valued at $8,670,739.60. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. Additionally, CEO Joseph B. Armes sold 2,000 shares of the company in a trade that took place on Monday, August 15. The shares were sold at an average price of $142.72, for a total transaction of $285,440.00. Following completion of the transaction, the CEO now directly owns 58,920 shares of the company, valued at approximately $8,409,062.40. The disclosure of this sale can be found here. Insiders sold a total of 8,573 shares of the company worth $1,076,922 in the past 90 days. 1.40% of the shares are held by insiders of the company.

Analyst upgrades and downgrades

Separately, StockNews.com upgraded CSW Industrials shares from a “hold” rating to a “buy” rating in a Tuesday report.

CSW Industrials Company Profile

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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.