CSW Industrials, Inc. (NASDAQ:CSWI) announced a quarterly dividend on Tuesday, October 12th, Zacks reports. Shareholders of record on Friday, October 29th will be given a dividend of 0.15 per share by the basic materials company on Friday, November 12th. This represents a $0.60 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Thursday, October 28th.
CSW Industrials has a dividend payout ratio of 16.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect CSW Industrials to earn $5.71 per share next year, which means the company should continue to be able to cover its $0.57 annual dividend with an expected future payout ratio of 10.0%.
CSW Industrials stock opened at $132.80 on Wednesday. CSW Industrials has a one year low of $81.51 and a one year high of $143.78. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.50 and a current ratio of 2.65. The business has a fifty day moving average of $129.62 and a two-hundred day moving average of $126.68. The company has a market cap of $2.09 billion, a P/E ratio of 42.29 and a beta of 0.81.
In related news, CEO Joseph B. Armes sold 2,000 shares of the company’s stock in a transaction on Thursday, July 15th. The stock was sold at an average price of $113.87, for a total transaction of $227,740.00. Following the completion of the transaction, the chief executive officer now directly owns 80,781 shares in the company, valued at approximately $9,198,532.47. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.90% of the stock is currently owned by insiders.
A hedge fund recently raised its stake in CSW Industrials stock. Royal Bank of Canada grew its position in CSW Industrials, Inc. (NASDAQ:CSWI) by 11.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,687 shares of the basic materials company’s stock after purchasing an additional 171 shares during the period. Royal Bank of Canada’s holdings in CSW Industrials were worth $200,000 at the end of the most recent quarter. Institutional investors own 72.38% of the company’s stock.
Several research firms have commented on CSWI. Barrington Research lifted their price target on CSW Industrials from $150.00 to $163.00 and gave the company an “outperform” rating in a report on Friday, August 6th. Zacks Investment Research cut CSW Industrials from a “buy” rating to a “hold” rating in a report on Wednesday, October 6th.
About CSW Industrials
CSW Industrials, Inc provides performance solutions to customers. It operates through the following segments: Industrial Products and Specialty Chemicals. The Industrial products segment manufactures specialty mechanical products; fire and smoke protection products; architecturally-specified building products; and storage, filtration and application equipment.
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