The CSR Limited (ASX: CSR) share price has climbed marginally higher this morning after the company announced the sale of its Ingleburn industrial property for $66 million.
What did CSR announce?
CSR confirmed the sale of the industrial property in Ingleburn, NSW for $66 million which was retained by CSR following the sale of the Viridian Glass business on 31 January 2019.
CSR had previously advised a likely value for the site in excess of $60 million.
The Ingleburn property transaction together with the sale of the Viridian Glass business will be included as a significant item in the company's full-year accounts for the year ended 31 March 2019, which are to be announced on 8 May 2019.
What's been happening for CSR?
The CSR share price is currently sitting around the $3.32 per share mark, which is up nearly 20% so far this year.
However, the company's share price steadily declined in the second half of 2018 and the company still has some catching up to do given it was valued as high as $5.90 in May 2018.
The company is relatively cheap with a P/E multiple of 9x earnings and offers a more than handy 8% dividend yield for investors.
The thing that worries me a little bit about CSR is the significant insider trades it has seen in the last 6-18 months, particularly the $1.3 million worth of shares sold by CEO and Managing Director Alan Sindel when the shares were at a $5.24 valuation.
While the market has since corrected, I'd be keeping an eye on any big insider moves at the current price to try and gauge where management think the real value of CSR's share price sits.
For value investors, I'd prefer to look at the likes of Rio Tinto Ltd (ASX: RIO) or National Australia Bank Ltd (ASX: NAB) given the potential for growth and both currently yielding a handy income for their investors.
For those looking more for growth in 2019, I think it's worth checking out this top-rated growth stock in a booming $22 billion industry that could see its share price soar later this year.
