Channing Capital Management LLC Raises Stake in Carlisle Companies Incorporated $CSL

Key Points

• Channing Capital Management LLC increased its stake in Carlisle Companies by 4.8%, owning 30,643 shares valued at approximately $10.43 million following an acquisition of 1,395 additional shares.
• Carlisle Companies has declared a quarterly dividend of $1.10 per share, up from the previous $1.00, with a payout ratio of 24.58% and an annualized yield of 1.1%.
• Despite reporting earnings per share of $6.27 for the last quarter, Carlisle missed analysts' expectations of $6.67, with a slight decline in revenue of 0.1% year-over-year.

Channing Capital Management LLC boosted its stake in shares of Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 4.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,643 shares of the conglomerate's stock after buying an additional 1,395 shares during the quarter. Channing Capital Management LLC owned approximately 0.07% of Carlisle Companies worth $10,434,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CSL. Allspring Global Investments Holdings LLC lifted its position in shares of Carlisle Companies by 4.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,148,796 shares of the conglomerate's stock valued at $394,244,000 after buying an additional 49,102 shares during the last quarter. Madison Asset Management LLC raised its stake in Carlisle Companies by 28.2% in the 1st quarter. Madison Asset Management LLC now owns 515,134 shares of the conglomerate's stock valued at $175,403,000 after acquiring an additional 113,312 shares during the period. GAMMA Investing LLC lifted its holdings in Carlisle Companies by 38,164.5% during the first quarter. GAMMA Investing LLC now owns 507,005 shares of the conglomerate's stock valued at $172,635,000 after purchasing an additional 505,680 shares during the last quarter. Bessemer Group Inc. boosted its position in Carlisle Companies by 8.4% during the first quarter. Bessemer Group Inc. now owns 504,790 shares of the conglomerate's stock worth $171,880,000 after purchasing an additional 39,329 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Carlisle Companies by 11.3% in the first quarter. Dimensional Fund Advisors LP now owns 499,341 shares of the conglomerate's stock worth $170,017,000 after acquiring an additional 50,578 shares during the period. Hedge funds and other institutional investors own 89.52% of the company's stock.

Carlisle Companies Price Performance

Shares of NYSE CSL traded up $16.0890 during midday trading on Friday, hitting $397.7090. 289,119 shares of the company's stock were exchanged, compared to its average volume of 517,771. The company has a current ratio of 2.19, a quick ratio of 1.47 and a debt-to-equity ratio of 0.89. The business's fifty day moving average price is $387.86 and its two-hundred day moving average price is $369.36. The company has a market cap of $17.00 billion, a price-to-earnings ratio of 22.22, a PEG ratio of 1.25 and a beta of 1.05. Carlisle Companies Incorporated has a 12-month low of $311.41 and a 12-month high of $481.26.

Carlisle Companies (NYSE:CSL - Get Free Report) last announced its earnings results on Wednesday, July 30th. The conglomerate reported $6.27 earnings per share for the quarter, missing analysts' consensus estimates of $6.67 by ($0.40). Carlisle Companies had a net margin of 16.12% and a return on equity of 38.16%. The company had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.50 billion. During the same period in the prior year, the business earned $6.24 earnings per share. The company's revenue for the quarter was down .1% compared to the same quarter last year. As a group, research analysts forecast that Carlisle Companies Incorporated will post 22.31 EPS for the current fiscal year.

Carlisle Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th will be issued a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.1%. This is an increase from Carlisle Companies's previous quarterly dividend of $1.00. Carlisle Companies's payout ratio is presently 24.58%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CSL. Loop Capital cut Carlisle Companies from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $430.00 to $395.00 in a report on Thursday, July 31st. Wall Street Zen upgraded Carlisle Companies from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. Finally, JPMorgan Chase & Co. started coverage on shares of Carlisle Companies in a research report on Tuesday, June 24th. They issued an "overweight" rating and a $500.00 price objective for the company. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $450.83.

Carlisle Companies Company Profile

Carlisle Companies Incorporated operates as a manufacturer and supplier of building envelope products and solutions in the United States, Europe, North America, Asia and the Middle East, Africa, and internationally. It operates through two segments: Carlisle Construction Materials and Carlisle Weatherproofing Technologies.