Assenagon Asset Management S.A. Has $4.88 Million Stock Position in Carlisle Companies Incorporated $CSL

Key Points

• Assenagon Asset Management increased its Carlisle Companies stake by 26.2% in the second quarter, bringing its holdings to 13,451 shares valued at approximately $4.88 million. Institutional investors collectively own 89.52% of CSL.
• Carlisle reported quarterly earnings of $7.03 per share, beating estimates of $6.35, while revenue rose 8.3% year over year to $1.57 billion.
• The company raised its quarterly dividend from $1.10 to $1.25 per share, equivalent to $5.00 annually and a 1.3% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $401.17.

Assenagon Asset Management S.A. lifted its position in Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 26.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,451 shares of the conglomerate's stock after buying an additional 2,794 shares during the period. Assenagon Asset Management S.A.'s holdings in Carlisle Companies were worth $4,879,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. BOK Financial Private Wealth Inc. acquired a new position in shares of Carlisle Companies in the 4th quarter valued at approximately $27,000. Signature Equity Partners LLC increased its stake in Carlisle Companies by 3,133.3% during the 1st quarter. Signature Equity Partners LLC now owns 97 shares of the conglomerate's stock worth $32,000 after purchasing an additional 94 shares in the last quarter. Torren Management LLC acquired a new stake in Carlisle Companies during the 4th quarter worth approximately $33,000. Osterweis Capital Management Inc. acquired a new stake in Carlisle Companies during the 2nd quarter worth approximately $36,000. Finally, Quarry LP bought a new position in Carlisle Companies in the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 89.52% of the company's stock.

Carlisle Companies Trading Down 1.8%

Shares of Carlisle Companies stock opened at $382.85 on Thursday. The stock has a market cap of $15.20 billion, a P/E ratio of 21.97, a P/E/G ratio of 1.23 and a beta of 0.85. The company has a quick ratio of 2.04, a current ratio of 2.60 and a debt-to-equity ratio of 1.78. Carlisle Companies Incorporated has a 12-month low of $293.43 and a 12-month high of $432.91. The business's 50 day moving average is $355.23 and its 200-day moving average is $357.45.

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

Carlisle Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 19th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, August 19th. This is a positive change from Carlisle Companies's previous quarterly dividend of $1.10. Carlisle Companies's payout ratio is currently 25.24%.

Analyst Ratings Changes

CSL has been the subject of several research analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Carlisle Companies in a report on Wednesday, June 24th. Robert W. Baird set a $412.00 price objective on shares of Carlisle Companies in a report on Thursday, July 30th. Raymond James Financial initiated coverage on shares of Carlisle Companies in a research report on Monday, April 27th. They issued an "outperform" rating and a $425.00 price objective on the stock. Oppenheimer upped their target price on shares of Carlisle Companies from $420.00 to $425.00 and gave the stock an "outperform" rating in a research note on Friday, April 24th. Finally, Truist Financial lowered their target price on Carlisle Companies from $360.00 to $340.00 and set a "hold" rating for the company in a report on Tuesday, July 7th. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Carlisle Companies has a consensus rating of "Moderate Buy" and an average price target of $401.17.

About Carlisle Companies

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.

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