Wells Fargo & Company Cuts CSW Industrials (NASDAQ:CSWI) Price Target to $350.00

CSW Industrials (NASDAQ:CSWI) had its price target cut by Wells Fargo & Company from $410.00 to $350.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an equal weight rating on the basic materials company’s stock.

A number of other brokerages have also recently issued reports on CSWI. The Goldman Sachs Group reduced their target price on shares of CSW Industrials from $450.00 to $400.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. StockNews.com upgraded CSW Industrials from a “hold” rating to a “buy” rating in a report on Friday, December 6th. Finally, Citigroup dropped their price objective on shares of CSW Industrials from $466.00 to $404.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, CSW Industrials presently has an average rating of “Hold” and an average target price of $384.67.

CSW Industrials Stock Up 0.5 %

Shares of NASDAQ CSWI opened at $329.81 on Friday. The company’s fifty day moving average is $378.25 and its 200-day moving average is $359.45. CSW Industrials has a twelve month low of $209.48 and a twelve month high of $436.50. The stock has a market cap of $5.55 billion, a price-to-earnings ratio of 44.81 and a beta of 0.85.

CSW Industrials (NASDAQ:CSWI) last released its earnings results on Thursday, January 30th. The basic materials company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.11. CSW Industrials had a return on equity of 17.07% and a net margin of 13.77%. On average, research analysts anticipate that CSW Industrials will post 8.22 EPS for the current fiscal year.

CSW Industrials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date is Friday, January 31st. CSW Industrials’s dividend payout ratio is currently 11.47%.

Insider Transactions at CSW Industrials

In other CSW Industrials news, Director Robert M. Swartz sold 200 shares of CSW Industrials stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $354.65, for a total transaction of $70,930.00. Following the completion of the sale, the director now owns 13,719 shares of the company’s stock, valued at $4,865,443.35. The trade was a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Joseph B. Armes sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $378.32, for a total transaction of $378,320.00. Following the completion of the sale, the chief executive officer now owns 48,848 shares of the company’s stock, valued at approximately $18,480,175.36. The trade was a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,903 shares of company stock worth $3,777,538. 1.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On CSW Industrials

Several institutional investors and hedge funds have recently bought and sold shares of CSWI. Squarepoint Ops LLC purchased a new position in shares of CSW Industrials in the second quarter valued at about $2,147,000. The Manufacturers Life Insurance Company grew its position in CSW Industrials by 4.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,759 shares of the basic materials company’s stock valued at $2,324,000 after purchasing an additional 378 shares during the last quarter. Algert Global LLC bought a new position in shares of CSW Industrials during the second quarter valued at $415,000. Creative Planning grew its position in CSW Industrials by 47.8% in the 2nd quarter. Creative Planning now owns 5,346 shares of the basic materials company’s stock worth $1,418,000 after purchasing an additional 1,729 shares during the period. Finally, Northwestern Mutual Wealth Management Co. bought a new position in shares of CSW Industrials in the 2nd quarter worth approximately $1,061,000. 82.79% of the stock is currently owned by institutional investors.

CSW Industrials Company Profile

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.