Copeland Capital Management LLC Reduces Stock Position in Carlisle Companies Incorporated $CSL

Key Points

• Copeland Capital Management LLC reduced its stock position in Carlisle Companies by 10.5%, selling 9,819 shares in the second quarter, now holding 0.19% of the company's stock valued at approximately $31.2 million.
• Carlisle Companies reported earnings per share of $6.27 for the last quarter, missing analyst estimates of $6.67, with a revenue decline of 0.1% year-over-year.
• The company declared a quarterly dividend of $1.10, an increase from the previous $1.00, indicating a 1.3% dividend yield and a payout ratio of 24.58%.

Copeland Capital Management LLC trimmed its holdings in shares of Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 10.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,540 shares of the conglomerate's stock after selling 9,819 shares during the period. Copeland Capital Management LLC owned about 0.19% of Carlisle Companies worth $31,194,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CSL. Dagco Inc. purchased a new position in shares of Carlisle Companies during the 1st quarter worth approximately $27,000. MAI Capital Management increased its stake in shares of Carlisle Companies by 37.8% during the 1st quarter. MAI Capital Management now owns 124 shares of the conglomerate's stock worth $42,000 after purchasing an additional 34 shares in the last quarter. CX Institutional purchased a new position in shares of Carlisle Companies during the 1st quarter worth approximately $49,000. Wayfinding Financial LLC purchased a new position in shares of Carlisle Companies during the 1st quarter worth approximately $55,000. Finally, Allworth Financial LP increased its stake in shares of Carlisle Companies by 32.8% during the 1st quarter. Allworth Financial LP now owns 170 shares of the conglomerate's stock worth $58,000 after purchasing an additional 42 shares in the last quarter. 89.52% of the stock is owned by hedge funds and other institutional investors.

Carlisle Companies Stock Up 0.2%

Shares of CSL opened at $332.14 on Friday. The firm has a market cap of $14.20 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 1.07 and a beta of 1.00. The company's fifty day moving average is $370.56 and its two-hundred day moving average is $372.96. Carlisle Companies Incorporated has a fifty-two week low of $311.41 and a fifty-two week high of $481.26. The company has a quick ratio of 1.47, a current ratio of 2.19 and a debt-to-equity ratio of 0.89.

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 for the quarter, missing analysts' consensus estimates of $6.67 by ($0.40). The company had revenue of $1.45 billion during 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 firm's revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the business earned $6.24 EPS. Analysts forecast that Carlisle Companies Incorporated will post 22.31 earnings per share for the current year.

Carlisle Companies Increases Dividend

The business 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 was Tuesday, August 19th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.3%. Carlisle Companies's dividend payout ratio (DPR) is 24.58%.

Analyst Ratings Changes

CSL has been the subject of a number of recent research reports. Zacks Research cut shares of Carlisle Companies from a "hold" rating to a "strong sell" rating in a research note on Tuesday, September 23rd. Truist Financial decreased their target price on shares of Carlisle Companies from $380.00 to $350.00 and set a "hold" rating on the stock in a research report on Monday, September 22nd. Loop Capital lowered shares of Carlisle Companies from a "buy" rating to a "hold" rating and decreased their target price for the stock from $430.00 to $395.00 in a research report on Thursday, July 31st. Finally, JPMorgan Chase & Co. decreased their target price on shares of Carlisle Companies from $480.00 to $410.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 17th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Carlisle Companies has a consensus rating of "Hold" and an average price target of $429.17.

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.

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