Citigroup Inc. Grows Stake in CSW Industrials, Inc. (NASDAQ:CSWI)

Citigroup Inc. lifted its stake in shares of CSW Industrials, Inc. (NASDAQ:CSWI) by 367.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 20,816 shares of the basic materials company’s stock after buying an additional 16,364 shares during the quarter. Citigroup Inc.’s holdings in CSW Industrials were worth $7,627,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Conestoga Capital Advisors LLC boosted its position in 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. Kayne Anderson Rudnick Investment Management LLC bought a new position in CSW Industrials in the 2nd quarter worth approximately $65,595,000. Congress Asset Management Co. boosted its holdings 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 buying an additional 7,405 shares during the period. Charles Schwab Investment Management Inc. grew its stake in CSW Industrials by 13.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 168,369 shares of the basic materials company’s stock valued at $61,689,000 after buying an additional 19,659 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in CSW Industrials by 1,046.2% during the 3rd quarter. Principal Financial Group Inc. now owns 84,991 shares of the basic materials company’s stock valued at $31,140,000 after acquiring an additional 77,576 shares during the period. Institutional investors own 82.79% of the company’s stock.

CSW Industrials Stock Performance

CSW Industrials stock opened at $422.39 on Friday. CSW Industrials, Inc. has a fifty-two week low of $176.56 and a fifty-two week high of $436.50. The stock has a market cap of $7.10 billion, a P/E ratio of 57.39, a PEG ratio of 3.38 and a beta of 0.78. The firm’s fifty day moving average price is $389.23 and its 200-day moving average price is $324.23.

CSW Industrials Increases Dividend

The firm 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 is a positive change from CSW Industrials’s previous quarterly dividend of $0.21. This represents a $0.96 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date was Friday, October 25th. CSW Industrials’s dividend payout ratio is currently 13.04%.

Insider Buying and Selling at CSW Industrials

In related news, CEO Joseph B. Armes sold 1,000 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $20,334,891.32. This trade represents a 1.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 3,000 shares of company stock valued at $1,139,500 in the last 90 days. Corporate insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

CSWI has been the subject of a number of analyst reports. Wells Fargo & Company assumed coverage on CSW Industrials in a report on Monday, November 25th. They issued an “equal weight” rating and a $425.00 price target for the company. StockNews.com upgraded CSW Industrials from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Citigroup upgraded CSW Industrials to a “hold” rating in a research report on Wednesday, November 13th.

CSW Industrials Profile

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.