CCM Investment Group LLC Makes New Investment in Carlisle Companies Incorporated (NYSE:CSL)

Key Points

• CCM Investment Group LLC purchased 4,184 shares of Carlisle Companies, valued at approximately $1.43 million, indicating strong interest from institutional investors in the stock.
• Carlisle Companies recently declared an increased quarterly dividend of $1.10 per share, representing a 1.2% yield and reflecting a positive financial outlook.
• Despite missing earnings estimates with reported EPS of $6.27 compared to a consensus of $6.67, analysts maintain a Moderate Buy rating for the stock with a target price average of $450.83.

CCM Investment Group LLC purchased a new stake in Carlisle Companies Incorporated (NYSE:CSL - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 4,184 shares of the conglomerate's stock, valued at approximately $1,433,000.

Other hedge funds have also added to or reduced their stakes in the company. CX Institutional bought a new position in Carlisle Companies in the first quarter valued at about $49,000. GeoWealth Management LLC boosted its holdings in Carlisle Companies by 25.0% in the fourth quarter. GeoWealth Management LLC now owns 145 shares of the conglomerate's stock valued at $53,000 after acquiring an additional 29 shares during the last quarter. Wayfinding Financial LLC bought a new position in Carlisle Companies in the first quarter valued at about $55,000. Allworth Financial LP boosted its holdings in Carlisle Companies by 32.8% in the first quarter. Allworth Financial LP now owns 170 shares of the conglomerate's stock valued at $58,000 after acquiring an additional 42 shares during the last quarter. Finally, Harbour Investments Inc. boosted its holdings in Carlisle Companies by 277.1% in the first quarter. Harbour Investments Inc. now owns 181 shares of the conglomerate's stock valued at $62,000 after acquiring an additional 133 shares during the last quarter. Institutional investors own 89.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Loop Capital cut Carlisle Companies from a "buy" rating to a "hold" rating and decreased their price target for the company from $430.00 to $395.00 in a report on Thursday, July 31st. JPMorgan Chase & Co. initiated coverage on Carlisle Companies in a report on Tuesday, June 24th. They issued an "overweight" rating and a $500.00 price objective for the company. Robert W. Baird upped their price objective on Carlisle Companies from $455.00 to $460.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Wall Street Zen upgraded Carlisle Companies from a "sell" rating to a "hold" rating in a report on Friday, May 16th. Finally, Truist Financial dropped their price objective on Carlisle Companies from $420.00 to $390.00 and set a "hold" rating for the company in a report on Thursday, April 24th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Carlisle Companies has an average rating of "Moderate Buy" and a consensus price target of $450.83.

Carlisle Companies Trading Down 2.4%

CSL stock traded down $9.41 during midday trading on Thursday, hitting $389.57. 269,662 shares of the company's stock were exchanged, compared to its average volume of 464,230. The stock's fifty day moving average price is $385.93 and its 200-day moving average price is $369.32. Carlisle Companies Incorporated has a one year low of $311.41 and a one year high of $481.26. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.47 and a current ratio of 2.19. The company has a market cap of $16.65 billion, a PE ratio of 21.74, a price-to-earnings-growth ratio of 1.21 and a beta of 1.05.

Carlisle Companies (NYSE:CSL - Get Free Report) last released 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 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 for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the company posted $6.24 EPS. Research analysts predict that Carlisle Companies Incorporated will post 22.31 earnings per share for the current fiscal 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 issued a dividend of $1.10 per share. This is a boost from Carlisle Companies's previous quarterly dividend of $1.00. The ex-dividend date is Tuesday, August 19th. This represents a $4.40 dividend on an annualized basis and a yield of 1.1%. Carlisle Companies's dividend payout ratio is currently 22.35%.

About Carlisle Companies

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.