CSW Industrials, Inc. (NASDAQ:CSWI) Sees Significant Decline in Short Interest

CSW Industrials, Inc. (NASDAQ:CSWI) was the recipient of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 356,800 shares, a drop of 11.0% from the November 15th total of 401,000 shares. Based on an average daily trading volume, of 182,900 shares, the short-interest ratio is presently 2.0 days.

CSW Industrials Stock Down 2.4 %

Shares of NASDAQ CSWI traded down $9.43 during midday trading on Tuesday, reaching $379.74. 130,441 shares of the company’s stock traded hands, compared to its average volume of 125,308. The company has a market cap of $6.39 billion, a price-to-earnings ratio of 51.63 and a beta of 0.81. The stock’s 50 day simple moving average is $397.24 and its 200-day simple moving average is $336.52. CSW Industrials has a one year low of $199.20 and a one year high of $436.50.

CSW Industrials Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, October 25th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.25%. This is an increase from CSW Industrials’s previous quarterly dividend of $0.21. The ex-dividend date was Friday, October 25th. CSW Industrials’s dividend payout ratio (DPR) is 13.04%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CSWI. StockNews.com upgraded CSW Industrials from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. The Goldman Sachs Group assumed coverage on shares of CSW Industrials in a research report on Friday, December 6th. They issued a “neutral” rating and a $450.00 price objective on the stock. Wells Fargo & Company cut their target price on CSW Industrials from $425.00 to $410.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, Citigroup raised CSW Industrials to a “hold” rating in a research note on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, CSW Industrials presently has a consensus rating of “Hold” and a consensus price target of $430.00.

Insider Activity

In other CSW Industrials news, CEO Joseph B. Armes sold 1,000 shares of CSW Industrials stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $404.79, for a total value of $404,790.00. Following the sale, the chief executive officer now owns 50,698 shares of the company’s stock, valued at $20,522,043.42. The trade was a 1.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Don Sullivan sold 1,965 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $387.15, for a total value of $760,749.75. Following the transaction, the executive vice president now owns 30,804 shares of the company’s stock, valued at $11,925,768.60. This represents a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,381 shares of company stock worth $2,496,864 over the last quarter. Insiders own 1.40% of the company’s stock.

Institutional Trading of CSW Industrials

Several hedge funds and other institutional investors have recently made changes to their positions in CSWI. Franklin Resources Inc. increased its position in CSW Industrials by 2,006.7% during the 3rd quarter. Franklin Resources Inc. now owns 57,617 shares of the basic materials company’s stock valued at $22,702,000 after buying an additional 54,882 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of CSW Industrials by 142.7% during the third quarter. Tidal Investments LLC now owns 3,526 shares of the basic materials company’s stock valued at $1,292,000 after acquiring an additional 2,073 shares in the last quarter. Sanctuary Advisors LLC raised its position in shares of CSW Industrials by 58.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 3,768 shares of the basic materials company’s stock valued at $1,381,000 after purchasing an additional 1,390 shares during the last quarter. Anchor Investment Management LLC boosted its stake in CSW Industrials by 2.5% in the 3rd quarter. Anchor Investment Management LLC now owns 1,287 shares of the basic materials company’s stock worth $472,000 after purchasing an additional 32 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in CSW Industrials by 7.4% during the 3rd quarter. Geode Capital Management LLC now owns 388,954 shares of the basic materials company’s stock worth $142,536,000 after purchasing an additional 26,728 shares during the last quarter. 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.