CSW Industrials (NASDAQ:CSWI) Posts Quarterly Earnings Results, Beats Expectations By $0.10 EPS

CSW Industrials (NASDAQ:CSWI) issued its quarterly earnings results on Thursday. The basic materials company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.10, Briefing.com reports. The business had revenue of $102.30 million during the quarter, compared to analysts’ expectations of $98.13 million. CSW Industrials had a return on equity of 17.62% and a net margin of 13.53%. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.76 earnings per share.

Shares of CSWI stock traded down $0.91 during trading on Friday, hitting $69.40. The company had a trading volume of 105,249 shares, compared to its average volume of 79,595. The company has a quick ratio of 2.03, a current ratio of 3.08 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 23.59 and a beta of 1.05. The stock’s 50-day simple moving average is $68.85. CSW Industrials has a one year low of $41.50 and a one year high of $75.67.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Tuesday, July 30th will be paid a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Monday, July 29th.

Several hedge funds have recently modified their holdings of the stock. Atria Investments LLC acquired a new stake in CSW Industrials during the 2nd quarter worth about $404,000. Bank of Montreal Can grew its holdings in CSW Industrials by 1,854.5% during the 2nd quarter. Bank of Montreal Can now owns 1,290 shares of the basic materials company’s stock worth $88,000 after acquiring an additional 1,224 shares during the period. Panagora Asset Management Inc. grew its holdings in CSW Industrials by 0.7% during the 2nd quarter. Panagora Asset Management Inc. now owns 24,097 shares of the basic materials company’s stock worth $1,642,000 after acquiring an additional 171 shares during the period. Prudential Financial Inc. grew its holdings in CSW Industrials by 125.5% during the 2nd quarter. Prudential Financial Inc. now owns 14,483 shares of the basic materials company’s stock worth $987,000 after acquiring an additional 8,059 shares during the period. Finally, Schroder Investment Management Group grew its holdings in CSW Industrials by 663.6% during the 2nd quarter. Schroder Investment Management Group now owns 73,600 shares of the basic materials company’s stock worth $5,016,000 after acquiring an additional 63,961 shares during the period. Institutional investors and hedge funds own 75.28% of the company’s stock.

Separately, BidaskClub upgraded CSW Industrials from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st.

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.

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Earnings History for CSW Industrials (NASDAQ:CSWI)

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