Carlisle Companies (NYSE:CSL) Downgraded to Hold at StockNews.com

StockNews.com cut shares of Carlisle Companies (NYSE:CSL) from a buy rating to a hold rating in a report published on Tuesday morning.

Separately, Robert W. Baird raised their price target on Carlisle Companies from $465.00 to $500.00 and gave the stock an outperform rating in a report on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $423.00.

Carlisle Companies Trading Down 0.7 %

NYSE CSL opened at $416.41 on Tuesday. Carlisle Companies has a 52 week low of $235.79 and a 52 week high of $443.87. The company has a 50 day moving average price of $410.83 and a 200 day moving average price of $395.16. The company has a quick ratio of 2.50, a current ratio of 2.89 and a debt-to-equity ratio of 0.63. The firm has a market cap of $19.82 billion, a PE ratio of 24.14, a price-to-earnings-growth ratio of 1.31 and a beta of 0.90.

Carlisle Companies (NYSE:CSL) last issued its quarterly earnings results on Wednesday, July 24th. The conglomerate reported $6.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.84 by $0.40. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.45 billion. Carlisle Companies had a return on equity of 31.65% and a net margin of 27.88%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm posted $5.18 earnings per share. As a group, sell-side analysts forecast that Carlisle Companies will post 20.58 EPS for the current fiscal year.

Carlisle Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th will be given a dividend of $1.00 per share. The ex-dividend date is Tuesday, August 20th. This represents a $4.00 dividend on an annualized basis and a yield of 0.96%. This is a boost from Carlisle Companies’s previous quarterly dividend of $0.85. Carlisle Companies’s payout ratio is currently 23.19%.

Insider Activity

In related news, CFO Kevin P. Zdimal sold 21,470 shares of Carlisle Companies stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $425.29, for a total transaction of $9,130,976.30. Following the completion of the sale, the chief financial officer now owns 35,641 shares of the company’s stock, valued at $15,157,760.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Carlisle Companies news, VP David W. Smith sold 600 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $425.56, for a total value of $255,336.00. Following the sale, the vice president now directly owns 2,834 shares of the company’s stock, valued at $1,206,037.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kevin P. Zdimal sold 21,470 shares of Carlisle Companies stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $425.29, for a total value of $9,130,976.30. Following the transaction, the chief financial officer now owns 35,641 shares of the company’s stock, valued at approximately $15,157,760.89. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

Institutional Trading of Carlisle Companies

Hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new position in Carlisle Companies during the fourth quarter valued at approximately $159,187,000. Madison Asset Management LLC increased its holdings in shares of Carlisle Companies by 2.9% during the 4th quarter. Madison Asset Management LLC now owns 401,528 shares of the conglomerate’s stock valued at $125,449,000 after purchasing an additional 11,464 shares in the last quarter. Truist Financial Corp lifted its stake in shares of Carlisle Companies by 0.8% in the 2nd quarter. Truist Financial Corp now owns 334,241 shares of the conglomerate’s stock valued at $135,438,000 after purchasing an additional 2,545 shares during the period. TD Asset Management Inc boosted its holdings in Carlisle Companies by 2,073.5% during the second quarter. TD Asset Management Inc now owns 281,643 shares of the conglomerate’s stock worth $114,125,000 after buying an additional 268,685 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado grew its position in Carlisle Companies by 2.9% during the second quarter. Public Employees Retirement Association of Colorado now owns 234,166 shares of the conglomerate’s stock valued at $94,886,000 after buying an additional 6,613 shares during the period. Hedge funds and other institutional investors own 89.52% of the company’s stock.

Carlisle Companies Company Profile

Carlisle Companies Incorporated operates as a manufacturer and supplier of building envelope products and solutions in the United States, Europe, North America, Asia and the Middle East, Africa, and internationally. It operates through two segments: Carlisle Construction Materials and Carlisle Weatherproofing Technologies.