Allspring Global Investments Holdings LLC Sells 199,335 Shares of CSW Industrials, Inc. (NASDAQ:CSWI)

Allspring Global Investments Holdings LLC lessened its stake in shares of CSW Industrials, Inc. (NASDAQ:CSWI) by 43.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 259,219 shares of the basic materials company’s stock after selling 199,335 shares during the period. Allspring Global Investments Holdings LLC owned about 1.67% of CSW Industrials worth $94,975,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CSWI. Capital World Investors raised its stake in shares of CSW Industrials by 956.8% during the first quarter. Capital World Investors now owns 376,573 shares of the basic materials company’s stock valued at $88,344,000 after acquiring an additional 340,939 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of CSW Industrials by 39.1% during the first quarter. Vanguard Group Inc. now owns 1,213,748 shares of the basic materials company’s stock valued at $284,745,000 after acquiring an additional 340,904 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of CSW Industrials during the second quarter valued at approximately $65,595,000. Natixis Advisors LLC bought a new stake in shares of CSW Industrials during the second quarter valued at approximately $12,424,000. Finally, Congress Wealth Management LLC DE raised its stake in shares of CSW Industrials by 690.6% during the first quarter. Congress Wealth Management LLC DE now owns 28,905 shares of the basic materials company’s stock valued at $6,781,000 after acquiring an additional 25,249 shares in the last quarter. Institutional investors own 82.79% of the company’s stock.

CSW Industrials Stock Performance

Shares of CSWI stock opened at $391.63 on Monday. The firm has a market cap of $6.08 billion, a price-to-earnings ratio of 59.97, a PEG ratio of 2.99 and a beta of 0.77. The company’s 50 day moving average is $343.87 and its 200 day moving average is $291.31. The company has a quick ratio of 1.44, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. CSW Industrials, Inc. has a 52-week low of $167.27 and a 52-week high of $398.80.

CSW Industrials (NASDAQ:CSWI) last issued its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.29. The company had revenue of $226.18 million for the quarter, compared to analyst estimates of $215.40 million. CSW Industrials had a net margin of 13.44% and a return on equity of 19.19%. During the same period last year, the company posted $1.97 earnings per share. On average, sell-side analysts anticipate that CSW Industrials, Inc. will post 8.42 EPS for the current fiscal year.

CSW Industrials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 25th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.25%. This is a positive change from CSW Industrials’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, October 25th. CSW Industrials’s dividend payout ratio (DPR) is presently 14.70%.

Insider Activity at CSW Industrials

In other CSW Industrials news, CEO Joseph B. Armes sold 1,000 shares of CSW Industrials stock in a transaction 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 transaction, the chief executive officer now directly owns 51,698 shares of the company’s stock, valued at approximately $20,334,891.32. The trade was a 0.00 % 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 the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of CSW Industrials from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th.

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.