Carlisle Companies Incorporated $CSL Stock Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management cut its Carlisle Companies stake by 86.9% in the third quarter, leaving it with 669 shares worth approximately $216,000. Institutional investors collectively own 89.52% of CSL.
• Analysts maintain a generally positive outlook, with five Buy ratings and four Holds producing a consensus “Moderate Buy” rating and an average price target of $394.50.
• Carlisle reported quarterly EPS of $7.03, beating estimates by $0.68, while revenue rose 8.3% year over year to $1.57 billion. The company also increased its quarterly dividend to $1.25, equivalent to a 1.4% annualized yield.

Sumitomo Mitsui DS Asset Management Company Ltd cut its holdings in shares of Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 86.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 669 shares of the conglomerate's stock after selling 4,419 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Carlisle Companies were worth $216,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of CSL. Versant Capital Management Inc grew its position in shares of Carlisle Companies by 71.7% during the 3rd quarter. Versant Capital Management Inc now owns 91 shares of the conglomerate's stock worth $29,000 after buying an additional 38 shares during the period. Signature Equity Partners LLC raised its stake in shares of Carlisle Companies by 3,133.3% during the first quarter. Signature Equity Partners LLC now owns 97 shares of the conglomerate's stock worth $32,000 after buying an additional 94 shares during the last quarter. Allied Private Wealth LLC acquired a new position in Carlisle Companies in the second quarter valued at approximately $33,000. Jones Financial Companies Lllp acquired a new position in Carlisle Companies in the second quarter valued at approximately $33,000. Finally, Osterweis Capital Management Inc. bought a new position in Carlisle Companies in the second quarter valued at approximately $35,000. Institutional investors own 89.52% of the company's stock.

Wall Street Analyst Weigh In

CSL has been the subject of a number of analyst reports. Weiss Ratings raised shares of Carlisle Companies from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday. DA Davidson set a $355.00 target price on shares of Carlisle Companies in a research report on Friday, October 9th. Robert W. Baird cut their price target on Carlisle Companies from $412.00 to $402.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 13th. Finally, Truist Financial reduced their price target on Carlisle Companies from $360.00 to $340.00 and set a "hold" rating on the stock in a research report on Tuesday, July 7th. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Carlisle Companies currently has an average rating of "Moderate Buy" and a consensus price target of $394.50.

Carlisle Companies Price Performance

CSL opened at $345.11 on Friday. The stock has a market cap of $13.70 billion, a P/E ratio of 19.80, a P/E/G ratio of 1.09 and a beta of 0.84. Carlisle Companies Incorporated has a 12 month low of $293.43 and a 12 month high of $432.91. The company has a quick ratio of 2.04, a current ratio of 2.60 and a debt-to-equity ratio of 1.78. The company has a fifty day simple moving average of $337.14 and a 200 day simple moving average of $347.11.

Carlisle Companies (NYSE:CSL - Get Free Report) last posted its earnings results on Wednesday, July 29th. The conglomerate reported $7.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $1.48 billion. During the same period in the previous year, the firm earned $6.27 earnings per share. The company's revenue was up 8.3% on a year-over-year basis. On average, research analysts expect that Carlisle Companies Incorporated will post 21.16 EPS for the current year.

Carlisle Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th were paid a $1.25 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This is an increase from Carlisle Companies's previous quarterly dividend of $1.10. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. Carlisle Companies's payout ratio is presently 28.69%.

About Carlisle Companies

Carlisle Companies Incorporated is a diversified manufacturer focused primarily on products and solutions for the building envelope. Through its construction materials businesses, the company supplies commercial and residential roofing systems, insulation, waterproofing products, air and vapor barriers, and related components designed to improve the energy efficiency, durability, and performance of buildings.

Carlisle's product portfolio includes single-ply roofing membranes, roof coatings, metal roofing systems, polyisocyanurate and expanded polystyrene insulation, sealants, and other building-envelope products.

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