Carlisle Companies Incorporated (NYSE:CSL) Increases Dividend to $1.25 Per Share

Key Points

• Carlisle Companies raised its quarterly dividend 13.6% to $1.25 per share, payable September 1 to shareholders of record on August 19. The increase extends the company’s dividend-growth streak to 48 consecutive years, with a yield of approximately 1.3%.
• The dividend appears well covered, with a current payout ratio of 17.6% and an expected future payout ratio of 18.1% based on projected earnings.
• Carlisle reported quarterly EPS of $7.03, beating estimates of $6.35, while revenue rose 8.3% year over year to $1.57 billion. Institutional investors own approximately 89.5% of the company’s shares.

Carlisle Companies Incorporated (NYSE:CSL - Get Free Report) declared a quarterly dividend on Thursday, August 6th. Shareholders of record on Wednesday, August 19th will be paid a dividend of 1.25 per share by the conglomerate on Tuesday, September 1st. This represents a c) annualized dividend and a yield of 1.3%. The ex-dividend date is Wednesday, August 19th. This is a 13.6% increase from Carlisle Companies's previous quarterly dividend of $1.10.

Carlisle Companies has increased its dividend by an average of 0.2%annually over the last three years and has raised its dividend every year for the last 48 years. Carlisle Companies has a dividend payout ratio of 17.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Carlisle Companies to earn $24.30 per share next year, which means the company should continue to be able to cover its $4.40 annual dividend with an expected future payout ratio of 18.1%.

Carlisle Companies Stock Performance

Shares of CSL traded up $4.12 during trading hours on Friday, hitting $386.95. The company's stock had a trading volume of 111,931 shares, compared to its average volume of 454,042. The company has a market cap of $15.37 billion, a price-to-earnings ratio of 22.23, a PEG ratio of 1.21 and a beta of 0.85. The company has a debt-to-equity ratio of 1.78, a current ratio of 2.60 and a quick ratio of 2.04. The business has a 50 day simple moving average of $351.76 and a two-hundred day simple moving average of $356.65. Carlisle Companies has a 52-week low of $293.43 and a 52-week high of $432.91.

Carlisle Companies (NYSE:CSL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The conglomerate reported $7.03 EPS for the quarter, beating the consensus estimate of $6.35 by $0.68. Carlisle Companies had a net margin of 14.21% and a return on equity of 47.58%. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the firm earned $6.27 EPS. The business's quarterly revenue was up 8.3% compared to the same quarter last year. On average, equities analysts expect that Carlisle Companies will post 21.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CSL. BlackRock Inc. acquired a new stake in shares of Carlisle Companies in the second quarter worth approximately $1,499,602,000. Deutsche Bank AG purchased a new position in Carlisle Companies during the second quarter worth approximately $51,377,000. Perigon Wealth Management LLC purchased a new position in Carlisle Companies during the second quarter worth approximately $208,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Carlisle Companies in the 2nd quarter valued at $17,376,000. Finally, OneDigital Investment Advisors LLC purchased a new stake in shares of Carlisle Companies during the 2nd quarter valued at $324,000. Hedge funds and other institutional investors own 89.52% of the company's stock.

Carlisle Companies Company Profile

Carlisle Companies Inc is a diversified global manufacturer serving a broad array of markets with engineered products, systems and solutions. The company's operations span several core business segments, including construction materials, fluid technologies, interconnect technologies, brake and friction systems, and engineered products. Carlisle is known for its expertise in developing high-performance building envelope solutions, precision-engineered hoses and fluid-handling components, lightweight interconnect systems for aerospace and defense, and heavy-duty brake and friction products.

Within its construction materials segment, Carlisle offers single-ply roofing membranes, polyiso insulation, and waterproofing systems designed for commercial and industrial buildings.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source