Bank of America Corp DE Makes New $93.49 Million Investment in Carlisle Companies Incorporated $CSL

Key Points

• Bank of America acquired 257,734 Carlisle Companies shares worth approximately $93.49 million, giving it a 0.65% stake. Institutional investors and hedge funds collectively own 89.52% of CSL.
• Carlisle reported quarterly EPS of $7.03, beating estimates of $6.35, while revenue rose 8.3% year over year to $1.57 billion. The company is expected to post $21.27 in annual EPS.
• The company increased its quarterly dividend from $1.10 to $1.25 per share, implying a $5.00 annualized payout and a 1.6% yield. Analysts maintain a consensus “Hold” rating with an average price target of $402.43, versus a recent share price of $314.29.

Bank of America Corp DE purchased a new position in shares of Carlisle Companies Incorporated (NYSE:CSL - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 257,734 shares of the conglomerate's stock, valued at approximately $93,493,000. Bank of America Corp DE owned approximately 0.65% of Carlisle Companies at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in CSL. Caisse de depot et placement du Quebec acquired a new position in shares of Carlisle Companies during the 2nd quarter worth $69,640,000. Man Group plc acquired a new stake in shares of Carlisle Companies in the 2nd quarter valued at $4,682,000. Invst LLC bought a new stake in Carlisle Companies in the second quarter worth $907,000. Jupiter Topco LLC bought a new stake in Carlisle Companies in the second quarter worth $90,431,000. Finally, Hsbc Holdings PLC acquired a new position in Carlisle Companies during the second quarter worth $6,678,000. 89.52% of the stock is currently owned by institutional investors and hedge funds.

Carlisle Companies Stock Down 1.9%

NYSE CSL opened at $314.29 on Friday. Carlisle Companies Incorporated has a 1-year low of $293.43 and a 1-year high of $432.91. The company has a market capitalization of $12.48 billion, a price-to-earnings ratio of 18.03, a PEG ratio of 1.00 and a beta of 0.84. The stock's 50 day moving average is $351.38 and its two-hundred day moving average is $350.22. The company has a current ratio of 2.60, a quick ratio of 2.04 and a debt-to-equity ratio of 1.78.

Carlisle Companies (NYSE:CSL - Get Free Report) last issued its earnings results on Wednesday, July 29th. The conglomerate reported $7.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 47.58% and a net margin of 14.21%.Carlisle Companies's quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.27 EPS. Equities analysts forecast that Carlisle Companies Incorporated will post 21.27 earnings per share for the current fiscal year.

Carlisle Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th were paid a dividend of $1.25 per share. 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 1.6%. The ex-dividend date was Wednesday, August 19th. Carlisle Companies's dividend payout ratio is currently 28.69%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CSL. Robert W. Baird set a $412.00 target price on Carlisle Companies in a report on Thursday, July 30th. Weiss Ratings lowered shares of Carlisle Companies from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, September 10th. DA Davidson began coverage on Carlisle Companies in a research report on Monday, August 24th. They issued a "neutral" rating and a $410.00 price target on the stock. Finally, Truist Financial dropped their price objective on Carlisle Companies from $360.00 to $340.00 and set a "hold" rating on the stock in a research note on Tuesday, July 7th. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $402.43.

Carlisle Companies Profile

Carlisle Companies Incorporated is a diversified manufacturer focused primarily on building products and construction materials. Through its Carlisle Construction Materials and Carlisle Weatherproofing Technologies businesses, the company provides products designed to improve the performance, energy efficiency and durability of commercial and residential buildings.

Its product portfolio includes commercial roofing systems, insulation, waterproofing and air-barrier solutions, architectural metal products, and related building-envelope components.

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.