3,436 Carlisle Companies Incorporated $CSL Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management reduced its Carlisle Companies stake by 25.5%, selling 3,436 shares and retaining 10,015 shares valued at approximately $3.23 million. Institutional investors collectively own 89.52% of the company.
• Analysts maintain a generally cautious outlook, with a consensus “Hold” rating and an average price target of $394.50; Truist and Robert W. Baird recently lowered their targets.
• Carlisle reported stronger-than-expected quarterly results, with earnings of $7.03 per share and revenue of $1.57 billion, while increasing its quarterly dividend to $1.25 per share.

Assenagon Asset Management S.A. lowered its position in Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 25.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 10,015 shares of the conglomerate's stock after selling 3,436 shares during the period. Assenagon Asset Management S.A.'s holdings in Carlisle Companies were worth $3,227,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc boosted its position in shares of Carlisle Companies by 71.7% during the 3rd quarter. Versant Capital Management Inc now owns 91 shares of the conglomerate's stock valued at $29,000 after purchasing an additional 38 shares in the last quarter. Signature Equity Partners LLC grew its stake in Carlisle Companies by 3,133.3% during the first quarter. Signature Equity Partners LLC now owns 97 shares of the conglomerate's stock worth $32,000 after purchasing an additional 94 shares during the period. Allied Private Wealth LLC acquired a new position in Carlisle Companies in the second quarter valued at approximately $33,000. Jones Financial Companies Lllp acquired a new stake in shares of Carlisle Companies during the 2nd quarter worth approximately $33,000. Finally, Osterweis Capital Management Inc. acquired a new stake in shares of Carlisle Companies during the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 89.52% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Truist Financial cut their target price on shares of Carlisle Companies from $360.00 to $340.00 and set a "hold" rating on the stock in a research note on Tuesday, July 7th. Robert W. Baird reduced their price target on shares of Carlisle Companies from $412.00 to $402.00 and set an "outperform" rating for the company in a report on Tuesday, October 13th. DA Davidson set a $355.00 price target on shares of Carlisle Companies in a research note on Friday, October 9th. Finally, Weiss Ratings upgraded shares of Carlisle Companies from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, October 8th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Carlisle Companies has a consensus rating of "Hold" and an average target price of $394.50.

Carlisle Companies Stock Performance

Shares of CSL opened at $340.12 on Thursday. The firm has a market capitalization of $13.51 billion, a P/E ratio of 19.51, a P/E/G ratio of 1.07 and a beta of 0.84. Carlisle Companies Incorporated has a 52 week low of $293.43 and a 52 week high of $432.91. The stock has a 50 day moving average price of $338.09 and a two-hundred day moving average price of $346.97. The company has a debt-to-equity ratio of 1.78, a quick ratio of 2.04 and a current ratio of 2.60.

Carlisle Companies (NYSE:CSL - Get Free Report) last posted its earnings results on Wednesday, July 29th. The conglomerate reported $7.03 earnings per share for the quarter, beating analysts' consensus estimates of $6.35 by $0.68. Carlisle Companies had a return on equity of 47.58% and a net margin of 14.21%. The company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the company earned $6.27 earnings per share. The company's revenue for the quarter was up 8.3% on a year-over-year basis. Equities analysts forecast that Carlisle Companies Incorporated will post 21.18 earnings per share for the current fiscal year.

Carlisle Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th were given a $1.25 dividend. This is an increase from Carlisle Companies's previous quarterly dividend of $1.10. This represents a $5.00 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Wednesday, August 19th. Carlisle Companies's payout ratio is presently 28.69%.

Carlisle Companies Company Profile

Carlisle Companies Incorporated is a diversified manufacturer focused primarily on products and solutions for the building envelope. Through its construction materials businesses, the company supplies commercial and residential roofing systems, insulation, waterproofing products, air and vapor barriers, and related components designed to improve the energy efficiency, durability, and performance of buildings.

Carlisle's product portfolio includes single-ply roofing membranes, roof coatings, metal roofing systems, polyisocyanurate and expanded polystyrene insulation, sealants, and other building-envelope products.

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