Principal Financial Group Inc. Increases Stake in CSW Industrials, Inc. (NASDAQ:CSWI)

Principal Financial Group Inc. lifted its stake in CSW Industrials, Inc. (NASDAQ:CSWI) by 1,046.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 84,991 shares of the basic materials company’s stock after buying an additional 77,576 shares during the quarter. Principal Financial Group Inc.’s holdings in CSW Industrials were worth $31,140,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. State Street Corp boosted its stake in 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 buying an additional 255,849 shares during the last quarter. Conestoga Capital Advisors LLC raised its holdings in shares of CSW Industrials by 1.7% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 577,037 shares of the basic materials company’s stock worth $211,420,000 after acquiring an additional 9,781 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of CSW Industrials by 7.4% during 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 during the last quarter. Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of CSW Industrials in the second quarter valued at $65,595,000. Finally, Congress Asset Management Co. increased its position 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 worth $74,616,000 after purchasing an additional 7,405 shares during the last quarter. Hedge funds and other institutional investors own 82.79% of the company’s stock.

CSW Industrials Trading Up 0.8 %

CSWI stock opened at $360.30 on Wednesday. CSW Industrials, Inc. has a 12 month low of $200.50 and a 12 month high of $436.50. The stock has a market cap of $6.06 billion, a PE ratio of 48.95 and a beta of 0.81. The company has a 50-day moving average price of $395.41 and a 200 day moving average price of $340.32.

CSW Industrials Increases Dividend

The firm 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. This is a boost 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 dividend on an annualized basis and a dividend yield of 0.27%. CSW Industrials’s dividend payout ratio is currently 13.04%.

Insider Transactions at CSW Industrials

In other CSW Industrials news, EVP Don Sullivan sold 1,965 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $387.15, for a total value of $760,749.75. Following the transaction, the executive vice president now owns 30,804 shares of the company’s stock, valued at $11,925,768.60. This represents a 6.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Joseph B. Armes sold 1,000 shares of CSW Industrials 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 owns 50,698 shares of the company’s stock, 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. Over the last three months, insiders have sold 6,381 shares of company stock worth $2,496,864. 1.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have commented on CSWI. Citigroup upgraded shares of CSW Industrials to a “hold” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group began coverage on shares of CSW Industrials in a report on Friday, December 6th. They issued a “neutral” rating and a $450.00 price target for the company. Wells Fargo & Company reduced their price objective on CSW Industrials from $425.00 to $410.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. 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 given a buy rating to the company. According to data from MarketBeat.com, CSW Industrials presently has a consensus rating of “Hold” and an average 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.