Assenagon Asset Management S.A. Has $23.65 Million Stake in CSW Industrials, Inc. (NASDAQ:CSWI)

Assenagon Asset Management S.A. increased its stake in shares of CSW Industrials, Inc. (NASDAQ:CSWI) by 20.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,043 shares of the basic materials company’s stock after purchasing an additional 11,417 shares during the quarter. Assenagon Asset Management S.A.’s holdings in CSW Industrials were worth $23,653,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CSWI. State Street Corp boosted its position in CSW Industrials by 71.7% in the 3rd 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 boosted its holdings in CSW Industrials by 1.7% in the third quarter. Conestoga Capital Advisors LLC now owns 577,037 shares of the basic materials company’s stock valued at $211,420,000 after acquiring an additional 9,781 shares during the last quarter. Geode Capital Management LLC boosted its holdings in CSW Industrials by 7.4% in the third 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 acquired a new stake in CSW Industrials in the second quarter worth about $65,595,000. Finally, Congress Asset Management Co. raised its holdings in CSW Industrials by 3.8% during the 3rd 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. Institutional investors and hedge funds own 82.79% of the company’s stock.

CSW Industrials Price Performance

CSW Industrials stock opened at $390.21 on Friday. The firm has a market capitalization of $6.56 billion, a price-to-earnings ratio of 53.02 and a beta of 0.85. The company’s 50 day simple moving average is $388.48 and its 200 day simple moving average is $352.36. CSW Industrials, Inc. has a fifty-two week low of $203.83 and a fifty-two week high of $436.50.

CSW Industrials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.25%. CSW Industrials’s dividend payout ratio is 13.04%.

Insider Activity

In other CSW Industrials news, CEO Joseph B. Armes sold 1,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $404.79, for a total value of $404,790.00. Following the completion of the transaction, the chief executive officer now directly owns 50,698 shares of the company’s stock, valued at approximately $20,522,043.42. The trade was a 1.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Don Sullivan sold 1,965 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $387.15, for a total value of $760,749.75. Following the sale, the executive vice president now directly owns 30,804 shares in the company, valued at approximately $11,925,768.60. This represents a 6.00 % decrease in their position. 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 quarter. Company insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

CSWI has been the topic of several recent 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. Citigroup lowered their target price on shares of CSW Industrials from $466.00 to $404.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Wells Fargo & Company cut their price target 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, The Goldman Sachs Group reduced their price target on CSW Industrials from $450.00 to $400.00 and set a “neutral” rating on the stock in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $404.67.

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.