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

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

Several other research firms have also recently weighed in on CSWI. The Goldman Sachs Group cut 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 note on Tuesday, January 14th. Citigroup cut their price objective on CSW Industrials from $466.00 to $404.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Finally, StockNews.com raised CSW Industrials from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $384.67.

CSW Industrials Stock Performance

Shares of CSWI stock opened at $329.81 on Friday. The firm has a market capitalization of $5.55 billion, a PE ratio of 44.81 and a beta of 0.85. The stock has a fifty day simple moving average of $378.25 and a two-hundred day simple moving average of $358.58. CSW Industrials has a 52-week low of $209.48 and a 52-week high of $436.50.

CSW Industrials (NASDAQ:CSWI) last issued its earnings results on Thursday, January 30th. The basic materials company reported $1.48 earnings per share (EPS) for the quarter, beating 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, sell-side analysts forecast that CSW Industrials will post 8.22 EPS for the current fiscal year.

CSW Industrials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a dividend of $0.24 per share. The ex-dividend date is Friday, January 31st. This represents a $0.96 annualized dividend and a yield of 0.29%. CSW Industrials’s dividend payout ratio (DPR) is currently 13.04%.

Insiders Place Their Bets

In other news, CEO Joseph B. Armes sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $389.78, for a total transaction of $389,780.00. Following the transaction, the chief executive officer now owns 49,698 shares of the company’s stock, valued at approximately $19,371,286.44. The trade was a 1.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Luke Alverson sold 1,522 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $358.16, for a total value of $545,119.52. Following the completion of the sale, the senior vice president now owns 15,634 shares of the company’s stock, valued at approximately $5,599,473.44. This represents a 8.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,903 shares of company stock valued at $3,777,538 in the last three months. Corporate insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On CSW Industrials

A number of large investors have recently made changes to their positions in the company. GAMMA Investing LLC raised its position in CSW Industrials by 105.9% in the 3rd quarter. GAMMA Investing LLC now owns 70 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 36 shares during the period. National Bank of Canada FI purchased a new stake in shares of CSW Industrials in the third quarter worth approximately $28,000. V Square Quantitative Management LLC bought a new stake in shares of CSW Industrials during the 3rd quarter worth approximately $30,000. Peterson Financial Group Inc. bought a new stake in shares of CSW Industrials during the 3rd quarter worth approximately $72,000. Finally, Nisa Investment Advisors LLC boosted its holdings in CSW Industrials by 508.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 207 shares of the basic materials company’s stock valued at $76,000 after acquiring an additional 173 shares during the period. 82.79% of the stock is owned by hedge funds and other institutional investors.

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.