Hexavest Inc. bought a new stake in shares of CSW Industrials Inc (NASDAQ:CSWI) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,631 shares of the basic materials company’s stock, valued at approximately $251,000.
Other hedge funds also recently bought and sold shares of the company. 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 valued at $88,000 after buying an additional 1,224 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new position in CSW Industrials during the 2nd quarter valued at about $102,000. SG Americas Securities LLC grew its holdings in CSW Industrials by 16.2% during the 2nd quarter. SG Americas Securities LLC now owns 2,155 shares of the basic materials company’s stock valued at $147,000 after buying an additional 301 shares in the last quarter. Virginia Retirement Systems ET AL purchased a new position in CSW Industrials during the 2nd quarter valued at about $204,000. Finally, RMB Capital Management LLC purchased a new position in CSW Industrials during the 2nd quarter valued at about $204,000. 74.25% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Joseph B. Armes sold 15,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $68.88, for a total transaction of $1,033,200.00. Following the completion of the transaction, the chief executive officer now owns 59,340 shares of the company’s stock, valued at $4,087,339.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is currently owned by insiders.
CSW Industrials (NASDAQ:CSWI) last issued its quarterly earnings data on Thursday, August 8th. The basic materials company reported $0.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.10. CSW Industrials had a return on equity of 17.33% and a net margin of 13.53%. The company had revenue of $102.30 million during the quarter, compared to analyst estimates of $98.13 million. During the same quarter in the previous year, the firm earned $0.76 earnings per share. CSW Industrials’s revenue was up 14.2% on a year-over-year basis.
Several brokerages have recently commented on CSWI. ValuEngine lowered CSW Industrials from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. BidaskClub lowered CSW Industrials from a “hold” rating to a “sell” rating in a report on Friday, October 4th.
CSW Industrials Company Profile
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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