Carlisle Companies Incorporated $CSL Shares Acquired by Squarepoint Ops LLC

Key Points

• Institutional ownership increased: Squarepoint Ops LLC raised its Carlisle Companies position by 28.8% in the second quarter to 47,679 shares, while institutional investors collectively own 89.52% of CSL.
• Quarterly results exceeded expectations: Carlisle reported adjusted earnings of $7.03 per share versus the $6.35 consensus estimate, with revenue of $1.57 billion, up 8.3% year over year.
• Analyst sentiment remains cautious: CSL has an average “Hold” rating and a consensus price target of $402.43, compared with a share price of $337.66; the company also raised its quarterly dividend to $1.25.

Squarepoint Ops LLC grew its position in Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 28.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,679 shares of the conglomerate's stock after buying an additional 10,653 shares during the quarter. Squarepoint Ops LLC owned 0.12% of Carlisle Companies worth $17,296,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CSL. Goldman Sachs Group Inc. raised its position in shares of Carlisle Companies by 36.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 105,468 shares of the conglomerate's stock worth $35,912,000 after purchasing an additional 28,414 shares during the last quarter. Baird Financial Group Inc. grew its holdings in Carlisle Companies by 8.4% during the 2nd quarter. Baird Financial Group Inc. now owns 2,549 shares of the conglomerate's stock valued at $952,000 after buying an additional 197 shares during the last quarter. Jump Financial LLC purchased a new position in Carlisle Companies during the second quarter worth $1,345,000. Bank of Nova Scotia increased its position in Carlisle Companies by 118.6% during the second quarter. Bank of Nova Scotia now owns 1,646 shares of the conglomerate's stock worth $615,000 after buying an additional 893 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Carlisle Companies by 40.0% in the second quarter. Sei Investments Co. now owns 115,396 shares of the conglomerate's stock worth $43,088,000 after acquiring an additional 32,996 shares during the last quarter. Institutional investors and hedge funds own 89.52% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CSL. DA Davidson assumed coverage on shares of Carlisle Companies in a report on Monday, August 24th. They issued a "neutral" rating and a $410.00 target price on the stock. Truist Financial cut their price objective on shares of Carlisle Companies from $360.00 to $340.00 and set a "hold" rating for the company in a research report on Tuesday, July 7th. Robert W. Baird set a $412.00 target price on shares of Carlisle Companies in a research note on Thursday, July 30th. Finally, Weiss Ratings raised Carlisle Companies from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, August 26th. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $402.43.

Carlisle Companies Stock Performance

NYSE CSL opened at $337.66 on Thursday. The firm has a market capitalization of $13.41 billion, a P/E ratio of 19.37, a P/E/G ratio of 1.07 and a beta of 0.84. Carlisle Companies Incorporated has a 1-year low of $293.43 and a 1-year high of $432.91. 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's 50-day simple moving average is $354.90 and its 200-day simple moving average is $353.61.

Carlisle Companies (NYSE:CSL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The conglomerate reported $7.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.35 by $0.68. Carlisle Companies had a return on equity of 47.58% and a net margin of 14.21%.The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the firm earned $6.27 EPS. The firm's quarterly revenue was up 8.3% compared to the same quarter last year. Equities analysts predict that Carlisle Companies Incorporated will post 21.27 EPS for the current year.

Carlisle Companies Increases Dividend

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