Carlisle Companies Incorporated $CSL Shares Sold by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS has reduced its stake in Carlisle Companies by 23.2%, selling 7,200 shares in the second quarter, now holding 23,900 shares worth approximately $8.9 million.
• Analysts have downgraded their price targets for Carlisle Companies, with Truist Financial decreasing theirs from $380 to $350, among others, indicating a cautious outlook for the stock.
• Carlisle Companies has declared a quarterly dividend of $1.10, representing a positive increase from the previous $1.00 dividend, with a current yield of 1.4%.

KLP Kapitalforvaltning AS reduced its stake in shares of Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 23.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,900 shares of the conglomerate's stock after selling 7,200 shares during the period. KLP Kapitalforvaltning AS owned 0.06% of Carlisle Companies worth $8,924,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dagco Inc. acquired a new position in shares of Carlisle Companies during the 1st quarter worth approximately $27,000. MAI Capital Management boosted its holdings in shares of Carlisle Companies by 37.8% during the 1st quarter. MAI Capital Management now owns 124 shares of the conglomerate's stock worth $42,000 after purchasing an additional 34 shares during the last quarter. CX Institutional acquired a new position in shares of Carlisle Companies during the 1st quarter worth approximately $49,000. Wayfinding Financial LLC acquired a new position in shares of Carlisle Companies during the 1st quarter worth approximately $55,000. Finally, Allworth Financial LP boosted its holdings in shares of Carlisle Companies by 32.8% during the 1st quarter. Allworth Financial LP now owns 170 shares of the conglomerate's stock worth $58,000 after purchasing an additional 42 shares during the last quarter. 89.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on CSL. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Carlisle Companies in a research report on Wednesday. Truist Financial reduced their price target on shares of Carlisle Companies from $380.00 to $350.00 and set a "hold" rating on the stock in a research report on Monday, September 22nd. Loop Capital lowered shares of Carlisle Companies from a "buy" rating to a "hold" rating and reduced their price target for the company from $430.00 to $395.00 in a research report on Thursday, July 31st. JPMorgan Chase & Co. reduced their price target on shares of Carlisle Companies from $480.00 to $410.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 17th. Finally, Zacks Research lowered shares of Carlisle Companies from a "hold" rating to a "strong sell" rating in a research report on Tuesday, September 23rd. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Carlisle Companies currently has an average rating of "Hold" and an average price target of $429.17.

Carlisle Companies Stock Down 2.3%

Shares of NYSE CSL opened at $322.59 on Friday. The firm has a market cap of $13.79 billion, a price-to-earnings ratio of 18.02, a PEG ratio of 1.07 and a beta of 1.00. The company has a quick ratio of 1.47, a current ratio of 2.19 and a debt-to-equity ratio of 0.89. Carlisle Companies Incorporated has a 52-week low of $311.41 and a 52-week high of $481.26. The business's 50 day moving average is $362.20 and its two-hundred day moving average is $372.40.

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

Carlisle Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.4%. This is a positive change from Carlisle Companies's previous quarterly dividend of $1.00. The ex-dividend date was Tuesday, August 19th. Carlisle Companies's payout ratio is presently 24.58%.

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.

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