Zurich Insurance Group Ltd FI Sells 140,507 Shares of Carlisle Companies Incorporated $CSL

Key Points

• Zurich Insurance Group Ltd FI significantly reduced its holdings in Carlisle Companies by 96.8% during the 1st quarter, selling 140,507 shares and retaining only 4,600 shares worth approximately $1.57 million.
• Carlisle Companies reported a miss in quarterly earnings with $6.27 per share, falling short of analysts' estimates of $6.67, alongside a revenue of $1.45 billion, which was also below expectations.
• The company declared an increased quarterly dividend of $1.10 per share, up from the previous $1.00, reflecting a dividend yield of about 1.2% and a payout ratio of 24.58%.

Zurich Insurance Group Ltd FI reduced its holdings in shares of Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 96.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,600 shares of the conglomerate's stock after selling 140,507 shares during the quarter. Zurich Insurance Group Ltd FI's holdings in Carlisle Companies were worth $1,566,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. lifted its stake in Carlisle Companies by 35.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 11,459 shares of the conglomerate's stock worth $3,902,000 after purchasing an additional 2,976 shares in the last quarter. Spire Wealth Management lifted its stake in Carlisle Companies by 2.8% in the 1st quarter. Spire Wealth Management now owns 1,960 shares of the conglomerate's stock worth $667,000 after purchasing an additional 54 shares in the last quarter. CX Institutional purchased a new stake in Carlisle Companies in the 1st quarter worth approximately $49,000. GAMMA Investing LLC lifted its stake in Carlisle Companies by 12.4% in the 1st quarter. GAMMA Investing LLC now owns 1,489 shares of the conglomerate's stock worth $507,000 after purchasing an additional 164 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in Carlisle Companies by 11.5% in the 1st quarter. Fifth Third Bancorp now owns 1,103 shares of the conglomerate's stock worth $376,000 after purchasing an additional 114 shares in the last quarter. 89.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on CSL. Loop Capital cut shares of Carlisle Companies from a "buy" rating to a "hold" rating and lowered their target price for the stock from $430.00 to $395.00 in a research note on Thursday, July 31st. JPMorgan Chase & Co. began coverage on shares of Carlisle Companies in a research report on Tuesday, June 24th. They set an "overweight" rating and a $500.00 price objective on the stock. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, Carlisle Companies currently has a consensus rating of "Moderate Buy" and a consensus target price of $450.83.

Carlisle Companies Trading Down 2.0%

Carlisle Companies stock traded down $7.19 during trading hours on Monday, reaching $358.47. The stock had a trading volume of 324,727 shares, compared to its average volume of 455,783. The stock has a market cap of $15.32 billion, a PE ratio of 20.00, a PEG ratio of 1.17 and a beta of 1.05. Carlisle Companies Incorporated has a 52 week low of $311.41 and a 52 week 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. The company has a fifty day simple moving average of $391.72 and a 200-day simple moving average of $373.45.

Carlisle Companies (NYSE:CSL - Get Free Report) last announced its quarterly 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 the consensus estimate of $1.50 billion. Carlisle Companies had a return on equity of 38.16% and a net margin of 16.12%.Carlisle Companies's revenue was down .1% on a year-over-year basis. During the same period last year, the business earned $6.24 EPS. Analysts forecast that Carlisle Companies Incorporated will post 22.31 EPS for the current fiscal year.

Carlisle Companies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were issued a $1.10 dividend. This is a boost from Carlisle Companies's previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $4.40 dividend on an annualized basis and a yield of 1.2%. Carlisle Companies's payout ratio is 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.