Carlisle Companies Incorporated $CSL Shares Sold by Meiji Yasuda Asset Management Co Ltd.

Key Points

• Meiji Yasuda Asset Management Co Ltd. reduced its stake in Carlisle Companies by 27.6%, selling 3,520 shares, while other institutional investors made significant increases in their holdings during the first quarter.
• Carlisle Companies reported lower-than-expected earnings of $6.27 per share for the last quarter, missing the consensus estimate of $6.67 by $0.40.
• The company has announced a quarterly dividend increase to $1.10 per share, up from $1.00, reflecting a dividend yield of 1.1%.

Meiji Yasuda Asset Management Co Ltd. lowered its stake in Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 27.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,242 shares of the conglomerate's stock after selling 3,520 shares during the period. Meiji Yasuda Asset Management Co Ltd.'s holdings in Carlisle Companies were worth $3,147,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in Carlisle Companies by 38,164.5% in the 1st quarter. GAMMA Investing LLC now owns 507,005 shares of the conglomerate's stock valued at $172,635,000 after buying an additional 505,680 shares during the period. Cooke & Bieler LP acquired a new position in shares of Carlisle Companies during the first quarter worth about $74,095,000. Pacer Advisors Inc. raised its holdings in Carlisle Companies by 1,611.7% during the first quarter. Pacer Advisors Inc. now owns 214,985 shares of the conglomerate's stock worth $73,202,000 after purchasing an additional 202,425 shares in the last quarter. Nuveen LLC acquired a new stake in Carlisle Companies in the first quarter valued at about $62,485,000. Finally, Point72 Asset Management L.P. acquired a new stake in Carlisle Companies in the fourth quarter valued at about $55,104,000. 89.52% of the stock is currently owned by hedge funds and other institutional investors.

Carlisle Companies Stock Down 1.0%

Shares of NYSE CSL opened at $392.12 on Tuesday. The firm's 50-day moving average is $393.01 and its two-hundred day moving average is $372.24. The company has a market capitalization of $16.76 billion, a PE ratio of 21.91, a price-to-earnings-growth ratio of 1.27 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. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.19 and a quick ratio of 1.47.

Carlisle Companies (NYSE:CSL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The conglomerate reported $6.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.67 by ($0.40). Carlisle Companies had a return on equity of 38.16% and a net margin of 16.12%.The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the firm earned $6.24 earnings per share. The company's revenue for the quarter was down .1% on a year-over-year basis. Equities analysts anticipate 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 was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were given a $1.10 dividend. This is an increase from Carlisle Companies's previous quarterly dividend of $1.00. This represents a $4.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Tuesday, August 19th. Carlisle Companies's dividend payout ratio (DPR) is currently 24.58%.

Analyst Upgrades and Downgrades

CSL has been the topic of several recent analyst reports. Wall Street Zen upgraded Carlisle Companies from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. Loop Capital lowered 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. Finally, JPMorgan Chase & Co. started coverage on Carlisle Companies in a report on Tuesday, June 24th. They issued an "overweight" rating and a $500.00 target price for the company. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Carlisle Companies currently has an average rating of "Moderate Buy" and a consensus price target of $450.83.

Carlisle Companies 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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