CSW Industrials (NASDAQ:CSWI) Rating Increased to Hold at Citigroup

Citigroup upgraded shares of CSW Industrials (NASDAQ:CSWI) to a hold rating in a report released on Wednesday morning,Zacks.com reports.

Separately, StockNews.com lowered CSW Industrials from a “buy” rating to a “hold” rating in a report on Thursday.

CSW Industrials Price Performance

CSWI stock traded down $1.79 during midday trading on Wednesday, reaching $406.00. 14,273 shares of the stock were exchanged, compared to its average volume of 128,087. The stock has a market capitalization of $6.83 billion, a PE ratio of 55.41, a P/E/G ratio of 3.32 and a beta of 0.78. CSW Industrials has a 52 week low of $167.81 and a 52 week high of $428.46. The company has a fifty day moving average price of $368.05 and a 200 day moving average price of $309.72.

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. This is a boost from CSW Industrials’s previous quarterly dividend of $0.21. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend was Friday, October 25th. CSW Industrials’s dividend payout ratio (DPR) is 13.04%.

Insiders Place Their Bets

In other news, CEO Joseph B. Armes sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $393.34, for a total transaction of $393,340.00. Following the transaction, the chief executive officer now directly owns 51,698 shares of the company’s stock, valued at approximately $20,334,891.32. This trade represents a 1.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CSWI. CANADA LIFE ASSURANCE Co increased its stake in CSW Industrials by 272.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 7,344 shares of the basic materials company’s stock worth $1,720,000 after buying an additional 5,372 shares during the period. Capital World Investors boosted its stake in CSW Industrials by 956.8% during the 1st quarter. Capital World Investors now owns 376,573 shares of the basic materials company’s stock worth $88,344,000 after purchasing an additional 340,939 shares during the period. Vanguard Group Inc. boosted its stake in CSW Industrials by 39.1% during the 1st quarter. Vanguard Group Inc. now owns 1,213,748 shares of the basic materials company’s stock worth $284,745,000 after purchasing an additional 340,904 shares during the period. Daymark Wealth Partners LLC acquired a new stake in CSW Industrials during the 2nd quarter worth $478,000. Finally, Oppenheimer Asset Management Inc. lifted its stake in shares of CSW Industrials by 49.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 11,376 shares of the basic materials company’s stock worth $3,018,000 after acquiring an additional 3,769 shares during the period. Hedge funds and other institutional investors own 82.79% of the company’s stock.

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.