Wells Fargo & Company Issues Pessimistic Forecast for CSW Industrials (NASDAQ:CSWI) Stock Price

CSW Industrials (NASDAQ:CSWI) had its price objective decreased by Wells Fargo & Company from $350.00 to $295.00 in a research note released on Monday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the basic materials company’s stock.

A number of other research analysts have also weighed in on the stock. The Goldman Sachs Group dropped their price objective on shares of CSW Industrials from $450.00 to $400.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Truist Financial assumed coverage on shares of CSW Industrials in a research report on Friday, February 14th. They issued a “hold” rating and a $362.00 price target on the stock. Citigroup decreased their price objective on CSW Industrials from $466.00 to $404.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Finally, StockNews.com cut CSW Industrials from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, CSW Industrials presently has an average rating of “Hold” and an average price target of $342.50.

CSW Industrials Price Performance

CSWI stock opened at $299.08 on Monday. The company’s 50-day moving average is $298.03 and its 200-day moving average is $351.69. The stock has a market capitalization of $5.02 billion, a PE ratio of 35.73 and a beta of 0.88. CSW Industrials has a 1 year low of $229.49 and a 1 year high of $436.50.

CSW Industrials (NASDAQ:CSWI) last announced its quarterly 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 15.72% and a net margin of 15.53%. On average, analysts anticipate that CSW Industrials will post 8.49 earnings per share for the current fiscal year.

CSW Industrials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be issued a dividend of $0.27 per share. This is a positive change from CSW Industrials’s previous quarterly dividend of $0.24. This represents a $1.08 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend is Friday, April 25th. CSW Industrials’s dividend payout ratio (DPR) is 12.90%.

Insiders Place Their Bets

In related news, SVP Luke Alverson sold 1,100 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $292.12, for a total value of $321,332.00. Following the transaction, the senior vice president now directly owns 13,434 shares of the company’s stock, valued at approximately $3,924,340.08. The trade was a 7.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joseph B. Armes sold 1,000 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $378.32, for a total transaction of $378,320.00. Following the transaction, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,012 shares of company stock valued at $2,588,521. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On CSW Industrials

Several institutional investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. raised its stake in shares of CSW Industrials by 0.8% in the first quarter. Harbor Capital Advisors Inc. now owns 29,858 shares of the basic materials company’s stock valued at $8,704,000 after buying an additional 241 shares during the period. Park Avenue Securities LLC increased its holdings in CSW Industrials by 6.7% in the 1st quarter. Park Avenue Securities LLC now owns 2,631 shares of the basic materials company’s stock worth $767,000 after acquiring an additional 165 shares during the last quarter. Vest Financial LLC bought a new stake in CSW Industrials in the 1st quarter valued at about $791,000. Portside Wealth Group LLC lifted its holdings in CSW Industrials by 15.9% during the first quarter. Portside Wealth Group LLC now owns 1,213 shares of the basic materials company’s stock valued at $354,000 after purchasing an additional 166 shares during the last quarter. Finally, Contravisory Investment Management Inc. boosted its position in CSW Industrials by 410.0% during the first quarter. Contravisory Investment Management Inc. now owns 561 shares of the basic materials company’s stock worth $164,000 after purchasing an additional 451 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.