Carlisle Companies Incorporated (NYSE:CSL) Shares Sold by Forsta AP Fonden

Key Points

• Forsta AP Fonden has reduced its holdings in Carlisle Companies by 26.1%, now owning 11,900 shares valued at approximately $4.05 million.
• Carlisle Companies plans to increase its quarterly dividend from $1.00 to $1.10, reflecting a 1.2% dividend yield.
• The company reported quarterly earnings of $6.27 per share, missing analysts' expectations, alongside a slight year-over-year revenue decline of 0.1%.

Forsta AP Fonden trimmed its position in shares of Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 26.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,900 shares of the conglomerate's stock after selling 4,200 shares during the period. Forsta AP Fonden's holdings in Carlisle Companies were worth $4,052,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. grew its holdings in Carlisle Companies by 35.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 11,459 shares of the conglomerate's stock valued at $3,902,000 after purchasing an additional 2,976 shares in the last quarter. Spire Wealth Management increased its position in shares of 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 during the last quarter. CX Institutional bought a new stake in shares of Carlisle Companies in the 1st quarter worth about $49,000. GAMMA Investing LLC raised its stake in shares of Carlisle Companies by 12.4% in the 1st quarter. GAMMA Investing LLC now owns 1,489 shares of the conglomerate's stock valued at $507,000 after purchasing an additional 164 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of Carlisle Companies by 11.5% during the first quarter. Fifth Third Bancorp now owns 1,103 shares of the conglomerate's stock worth $376,000 after purchasing an additional 114 shares during the last quarter. 89.52% of the stock is owned by institutional investors and hedge funds.

Carlisle Companies Stock Performance

Shares of NYSE:CSL traded up $15.56 during trading on Wednesday, reaching $399.95. 436,385 shares of the company's stock traded hands, compared to its average volume of 520,437. The stock has a market capitalization of $17.10 billion, a P/E ratio of 22.34, a price-to-earnings-growth ratio of 1.21 and a beta of 1.05. The company has a 50 day moving average of $385.93 and a 200-day moving average of $369.32. 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 posted 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 for the quarter, compared to analyst estimates of $1.50 billion. Carlisle Companies had a net margin of 16.12% and a return on equity of 38.16%. The company's revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the firm earned $6.24 earnings per share. On average, equities analysts expect that Carlisle Companies Incorporated will post 22.31 EPS for the current year.

Carlisle Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th will be paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, August 19th. This is a positive change from Carlisle Companies's previous quarterly dividend of $1.00. Carlisle Companies's dividend payout ratio (DPR) is presently 22.35%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CSL. Wall Street Zen upgraded Carlisle Companies from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. began coverage on Carlisle Companies in a report on Tuesday, June 24th. They issued an "overweight" rating and a $500.00 price target for the company. Loop Capital downgraded shares of Carlisle Companies from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $430.00 to $395.00 in a report on Thursday, July 31st. Truist Financial lowered their target price on shares of Carlisle Companies from $420.00 to $390.00 and set a "hold" rating for the company in a research note on Thursday, April 24th. Finally, Robert W. Baird lifted their price target on shares of Carlisle Companies from $455.00 to $460.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Carlisle Companies presently 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.