Franklin Resources Inc. Has $22.70 Million Stock Position in CSW Industrials, Inc. (NASDAQ:CSWI)

Franklin Resources Inc. increased its stake in shares of CSW Industrials, Inc. (NASDAQ:CSWI) by 2,006.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,617 shares of the basic materials company’s stock after acquiring an additional 54,882 shares during the quarter. Franklin Resources Inc. owned about 0.34% of CSW Industrials worth $22,702,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of CSW Industrials by 71.7% during the third quarter. State Street Corp now owns 612,696 shares of the basic materials company’s stock valued at $224,486,000 after acquiring an additional 255,849 shares during the period. Conestoga Capital Advisors LLC raised its holdings in shares of CSW Industrials by 1.7% in the third quarter. Conestoga Capital Advisors LLC now owns 577,037 shares of the basic materials company’s stock valued at $211,420,000 after buying an additional 9,781 shares during the last quarter. Geode Capital Management LLC increased its position in CSW Industrials by 7.4% in the 3rd quarter. Geode Capital Management LLC now owns 388,954 shares of the basic materials company’s stock valued at $142,536,000 after acquiring an additional 26,728 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of CSW Industrials during the second quarter worth approximately $65,595,000. Finally, Congress Asset Management Co. raised its position in CSW Industrials by 3.8% in the 3rd quarter. Congress Asset Management Co. now owns 203,651 shares of the basic materials company’s stock worth $74,616,000 after purchasing an additional 7,405 shares during the last quarter. 82.79% of the stock is currently owned by institutional investors.

CSW Industrials Trading Down 0.5 %

CSW Industrials stock opened at $358.90 on Friday. The company has a fifty day simple moving average of $396.77 and a 200 day simple moving average of $337.71. CSW Industrials, Inc. has a 1-year low of $200.50 and a 1-year high of $436.50. The company has a market cap of $6.04 billion, a P/E ratio of 48.76 and a beta of 0.81.

CSW Industrials Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Friday, October 25th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.27%. This is a positive change from CSW Industrials’s previous quarterly dividend of $0.21. CSW Industrials’s dividend payout ratio (DPR) is 13.04%.

Insiders Place Their Bets

In other CSW Industrials news, SVP Luke Alverson sold 1,416 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $387.15, for a total transaction of $548,204.40. Following the transaction, the senior vice president now owns 17,156 shares in the company, valued at $6,641,945.40. This trade represents a 7.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph B. Armes sold 1,000 shares of the stock in a transaction 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 directly owns 50,698 shares in the company, valued at approximately $20,522,043.42. This trade represents a 1.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,381 shares of company stock worth $2,496,864 in the last 90 days. Company insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

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

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.