CSW Industrials (NASDAQ:CSWI) Upgraded to Hold at Citigroup

CSW Industrials (NASDAQ:CSWI) was upgraded by analysts at Citigroup to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Separately, StockNews.com lowered shares of CSW Industrials from a “buy” rating to a “hold” rating in a research note on Thursday.

CSW Industrials Stock Down 1.6 %

Shares of CSWI stock opened at $407.79 on Wednesday. The stock has a 50-day simple moving average of $368.05 and a 200 day simple moving average of $309.72. The stock has a market capitalization of $6.86 billion, a P/E ratio of 55.41, a P/E/G ratio of 3.35 and a beta of 0.78. CSW Industrials has a fifty-two week low of $167.81 and a fifty-two week high of $428.46.

Insider Activity

In related news, CEO Joseph B. Armes sold 1,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $393.34, for a total value of $393,340.00. Following the completion of the sale, the chief executive officer now directly owns 51,698 shares of the company’s stock, valued at approximately $20,334,891.32. This represents a 1.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of CSW Industrials

A number of hedge funds have recently made changes to their positions in CSWI. Erste Asset Management GmbH acquired a new position in CSW Industrials in the 3rd quarter valued at approximately $651,000. Fred Alger Management LLC increased its stake in shares of CSW Industrials by 109.4% in the third quarter. Fred Alger Management LLC now owns 27,954 shares of the basic materials company’s stock worth $10,242,000 after acquiring an additional 14,607 shares during the last quarter. Verition Fund Management LLC purchased a new stake in shares of CSW Industrials during the third quarter worth $237,000. Captrust Financial Advisors boosted its position in CSW Industrials by 11.5% during the third quarter. Captrust Financial Advisors now owns 1,097 shares of the basic materials company’s stock valued at $402,000 after purchasing an additional 113 shares during the last quarter. Finally, Public Sector Pension Investment Board purchased a new position in CSW Industrials in the third quarter valued at about $12,934,000. 82.79% of the stock is owned by hedge funds and other institutional investors.

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.