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

CSW Industrials (NASDAQ:CSWI) had its price target lowered by Wells Fargo & Company from $425.00 to $410.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the basic materials company’s stock.

CSWI has been the topic of several other research reports. StockNews.com upgraded shares of CSW Industrials from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. The Goldman Sachs Group initiated coverage on CSW Industrials in a report on Friday, December 6th. They issued a “neutral” rating and a $450.00 target price on the stock. Finally, Citigroup upgraded CSW Industrials to a “hold” rating in a research note on Wednesday, November 13th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $430.00.

CSW Industrials Stock Down 0.5 %

CSWI opened at $358.90 on Tuesday. The stock has a market capitalization of $6.04 billion, a price-to-earnings ratio of 48.76 and a beta of 0.81. CSW Industrials has a twelve month low of $200.50 and a twelve month high of $436.50. The company has a 50-day simple moving average of $396.77 and a 200 day simple moving average of $337.71.

CSW Industrials Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, October 25th were paid a $0.24 dividend. This is an increase from CSW Industrials’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Friday, October 25th. This represents a $0.96 annualized dividend and a yield of 0.27%. CSW Industrials’s dividend payout ratio is presently 13.04%.

Insider Buying and Selling at CSW Industrials

In other CSW Industrials news, SVP Luke Alverson sold 1,416 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $387.15, for a total value of $548,204.40. Following the completion of the transaction, the senior vice president now directly owns 17,156 shares in the company, valued at approximately $6,641,945.40. This trade represents a 7.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joseph B. Armes sold 1,000 shares of CSW Industrials stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $393.34, for a total value of $393,340.00. Following the sale, the chief executive officer now directly owns 51,698 shares in the company, valued at $20,334,891.32. The trade was a 1.90 % 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 over the last quarter. Corporate insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp grew its holdings in CSW Industrials by 71.7% during the 3rd quarter. State Street Corp now owns 612,696 shares of the basic materials company’s stock worth $224,486,000 after acquiring an additional 255,849 shares during the last quarter. Conestoga Capital Advisors LLC lifted its holdings in shares of CSW Industrials by 1.7% during the third quarter. Conestoga Capital Advisors LLC now owns 577,037 shares of the basic materials company’s stock worth $211,420,000 after purchasing an additional 9,781 shares during the period. Geode Capital Management LLC lifted its holdings in shares of CSW Industrials by 7.4% during the third 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 period. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of CSW Industrials in the second quarter worth $65,595,000. Finally, Congress Asset Management Co. increased its holdings in CSW Industrials by 3.8% in the third quarter. Congress Asset Management Co. now owns 203,651 shares of the basic materials company’s stock valued at $74,616,000 after purchasing an additional 7,405 shares during the period. Institutional investors and hedge funds 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.