California State Teachers Retirement System Grows Stock Position in Carlisle Companies Incorporated $CSL

Key Points

• California State Teachers Retirement System dramatically increased its Carlisle Companies stake by purchasing 20.3 million additional shares in the second quarter, bringing its holdings to 20.4 million shares, or approximately 51.4% of the company.
• Carlisle exceeded quarterly expectations, reporting $7.03 in EPS and $1.57 billion in revenue, with revenue rising 8.3% year over year. The company also raised its quarterly dividend from $1.10 to $1.25 per share.
• CSL shares were trading at $341.27, down 3.1%, while analysts maintained a generally cautious outlook: five rated the stock Buy and six rated it Hold, producing an average rating of Hold and a $402.43 average price target.

California State Teachers Retirement System increased its stake in Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 29,027.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,404,688 shares of the conglomerate's stock after buying an additional 20,334,636 shares during the quarter. California State Teachers Retirement System owned about 51.38% of Carlisle Companies worth $7,401,801,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. BOK Financial Private Wealth Inc. bought a new stake in shares of Carlisle Companies in the 4th quarter worth about $27,000. Jones Financial Companies Lllp purchased a new position in shares of Carlisle Companies during the 2nd quarter worth about $33,000. Osterweis Capital Management Inc. bought a new position in Carlisle Companies during the 2nd quarter valued at about $35,000. Signature Equity Partners LLC grew its holdings in Carlisle Companies by 3,133.3% during the 1st quarter. Signature Equity Partners LLC now owns 97 shares of the conglomerate's stock valued at $32,000 after purchasing an additional 94 shares during the last quarter. Finally, Allied Private Wealth LLC purchased a new stake in Carlisle Companies in the 2nd quarter worth about $33,000. 89.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Weiss Ratings raised shares of Carlisle Companies from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, August 26th. Truist Financial reduced their price target on Carlisle Companies from $360.00 to $340.00 and set a "hold" rating on the stock in a report on Tuesday, July 7th. Robert W. Baird set a $412.00 price target on Carlisle Companies in a research note on Thursday, July 30th. Finally, DA Davidson assumed coverage on Carlisle Companies in a report on Monday, August 24th. They set a "neutral" rating and a $410.00 price objective for the company. Five investment analysts have rated the stock with a Buy rating and six have issued 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 Trading Down 3.1%

Shares of CSL opened at $341.27 on Wednesday. Carlisle Companies Incorporated has a 1-year low of $293.43 and a 1-year high of $432.91. The company has a 50-day moving average of $355.37 and a 200 day moving average of $354.10. The firm has a market capitalization of $13.55 billion, a price-to-earnings ratio of 19.58, a PEG ratio of 1.10 and a beta of 0.84. The company has a debt-to-equity ratio of 1.78, a current ratio of 2.60 and a quick ratio of 2.04.

Carlisle Companies (NYSE:CSL - Get Free Report) last issued its earnings results on Wednesday, July 29th. The conglomerate reported $7.03 EPS for the quarter, topping analysts' consensus estimates of $6.35 by $0.68. Carlisle Companies had a net margin of 14.21% and a return on equity of 47.58%. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the company posted $6.27 earnings per share. The company's quarterly revenue was up 8.3% compared to the same quarter last year. On average, research analysts expect that Carlisle Companies Incorporated will post 21.27 EPS for the current year.

Carlisle Companies Increases Dividend

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

Carlisle Companies 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.

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