First Manhattan Co. Has $38.66 Million Stake in CSW Industrials Inc (CSWI)

First Manhattan Co. trimmed its position in CSW Industrials Inc (NASDAQ:CSWI) by 2.2% during the second quarter, HoldingsChannel reports. The firm owned 731,504 shares of the basic materials company’s stock after selling 16,208 shares during the period. First Manhattan Co.’s holdings in CSW Industrials were worth $38,659,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in CSWI. Bank of New York Mellon Corp raised its holdings in shares of CSW Industrials by 2.7% in the 4th quarter. Bank of New York Mellon Corp now owns 62,673 shares of the basic materials company’s stock valued at $2,880,000 after purchasing an additional 1,626 shares in the last quarter. BlackRock Inc. raised its holdings in shares of CSW Industrials by 1.6% in the 4th quarter. BlackRock Inc. now owns 861,413 shares of the basic materials company’s stock valued at $39,582,000 after purchasing an additional 13,516 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of CSW Industrials by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 136,350 shares of the basic materials company’s stock valued at $6,265,000 after purchasing an additional 3,448 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of CSW Industrials by 76.6% in the 4th quarter. Deutsche Bank AG now owns 33,433 shares of the basic materials company’s stock valued at $1,535,000 after purchasing an additional 14,497 shares in the last quarter. Finally, Stone Ridge Asset Management LLC acquired a new stake in shares of CSW Industrials in the 4th quarter valued at $258,000. Institutional investors and hedge funds own 69.39% of the company’s stock.

NASDAQ CSWI opened at $50.85 on Thursday. The company has a current ratio of 2.84, a quick ratio of 1.89 and a debt-to-equity ratio of 0.09. CSW Industrials Inc has a 12 month low of $37.80 and a 12 month high of $56.45. The firm has a market capitalization of $853.42 million, a P/E ratio of 23.76 and a beta of 1.24.

CSW Industrials (NASDAQ:CSWI) last released its quarterly earnings results on Wednesday, August 1st. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.76. CSW Industrials had a negative net margin of 3.49% and a positive return on equity of 11.61%. The business had revenue of $89.58 million for the quarter, compared to analyst estimates of $93.88 million. During the same period in the previous year, the company earned $0.70 earnings per share. The business’s revenue for the quarter was up .3% on a year-over-year basis. research analysts forecast that CSW Industrials Inc will post 2.38 EPS for the current fiscal year.

In other CSW Industrials news, Chairman Joseph B. Armes sold 4,250 shares of CSW Industrials stock in a transaction on Friday, July 6th. The shares were sold at an average price of $53.80, for a total value of $228,650.00. Following the transaction, the chairman now directly owns 67,440 shares of the company’s stock, valued at $3,628,272. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.20% of the stock is currently owned by insiders.

A number of brokerages have recently weighed in on CSWI. BidaskClub lowered shares of CSW Industrials from a “strong-buy” rating to a “buy” rating in a report on Thursday. B. Riley raised their price objective on shares of CSW Industrials to $65.00 and gave the company a “buy” rating in a report on Wednesday. Zacks Investment Research lowered shares of CSW Industrials from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Finally, TheStreet upgraded shares of CSW Industrials from a “c” rating to a “b-” rating in a report on Wednesday, June 6th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. CSW Industrials currently has a consensus rating of “Buy” and a consensus target price of $60.00.

About CSW Industrials

CSW Industrials, Inc operates as a diversified industrial company in the United States and internationally. The company operates through two segments, Industrial Products and Specialty Chemicals. The Industrial Products segment offers specialty mechanical products; fire and smoke protection products; architecturally-specified building products; and storage, filtration, and application equipment for use with specialty chemicals and other products.

Read More: Trading Strategy Examples and Plans

Want to see what other hedge funds are holding CSWI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CSW Industrials Inc (NASDAQ:CSWI).

Institutional Ownership by Quarter for CSW Industrials (NASDAQ:CSWI)

Receive News & Ratings for CSW Industrials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CSW Industrials and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply