Cibc World Market Inc. Acquires Shares of 6,631 Carlisle Companies Incorporated $CSL

Key Points

• CIBC World Market bought 6,631 shares of Carlisle Companies worth approximately $2.4 million, while several other institutions also initiated positions. Institutional investors and hedge funds own 89.52% of CSL.
• Carlisle reported quarterly EPS of $7.03, exceeding estimates by $0.68, while revenue rose 8.3% year over year to $1.57 billion. Shares recently traded at $366.08, with analysts maintaining an overall “Hold” rating and an average price target of $402.43.
• The company raised its quarterly dividend from $1.10 to $1.25 per share, equivalent to $5.00 annually and a 1.4% yield.

Cibc World Market Inc. bought a new position in Carlisle Companies Incorporated (NYSE:CSL - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,631 shares of the conglomerate's stock, valued at approximately $2,405,000.

A number of other hedge funds have also modified their holdings of CSL. OMERS ADMINISTRATION Corp bought a new stake in Carlisle Companies in the second quarter valued at $3,772,000. Osmosis Investment Management UK Ltd bought a new position in shares of Carlisle Companies during the second quarter valued at $288,000. Sanctuary Advisors LLC bought a new position in shares of Carlisle Companies during the second quarter valued at $965,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Carlisle Companies in the 2nd quarter valued at $6,076,000. Finally, PEAK6 LLC acquired a new stake in shares of Carlisle Companies in the 2nd quarter valued at $2,549,000. 89.52% of the stock is owned by institutional investors and hedge funds.

Carlisle Companies Trading Up 0.8%

NYSE CSL opened at $366.08 on Thursday. The stock has a 50-day simple moving average of $359.35 and a 200 day simple moving average of $358.01. The company has a market capitalization of $14.54 billion, a PE ratio of 21.00, a P/E/G ratio of 1.14 and a beta of 0.85. The company has a current ratio of 2.60, a quick ratio of 2.04 and a debt-to-equity ratio of 1.78. Carlisle Companies Incorporated has a 12 month low of $293.43 and a 12 month high of $432.91.

Carlisle Companies (NYSE:CSL - Get Free Report) last released its earnings results on Wednesday, July 29th. The conglomerate reported $7.03 earnings per share for the quarter, beating the consensus estimate of $6.35 by $0.68. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.48 billion. Carlisle Companies had a return on equity of 47.58% and a net margin of 14.21%.The company's quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.27 earnings per share. Research analysts forecast that Carlisle Companies Incorporated will post 21.29 EPS for the current year.

Carlisle Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 19th will be given a $1.25 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.4%. This is a positive change from Carlisle Companies's previous quarterly dividend of $1.10. Carlisle Companies's dividend payout ratio is 28.69%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Robert W. Baird set a $412.00 price objective on shares of Carlisle Companies in a report on Thursday, July 30th. Truist Financial reduced their target price on Carlisle Companies from $360.00 to $340.00 and set a "hold" rating on the stock in a report on Tuesday, July 7th. DA Davidson assumed coverage on Carlisle Companies in a research report on Monday. They set a "neutral" rating and a $410.00 price target on the stock. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Carlisle Companies in a research report on Wednesday, June 24th. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, Carlisle Companies has an average rating of "Hold" and an average target price of $402.43.

About Carlisle Companies

Carlisle Companies Inc is a diversified global manufacturer serving a broad array of markets with engineered products, systems and solutions. The company's operations span several core business segments, including construction materials, fluid technologies, interconnect technologies, brake and friction systems, and engineered products. Carlisle is known for its expertise in developing high-performance building envelope solutions, precision-engineered hoses and fluid-handling components, lightweight interconnect systems for aerospace and defense, and heavy-duty brake and friction products.

Within its construction materials segment, Carlisle offers single-ply roofing membranes, polyiso insulation, and waterproofing systems designed for commercial and industrial buildings.

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