Corebridge Financial Inc. Cuts Stock Position in Carlisle Companies Incorporated $CSL

Key Points

• Corebridge Financial Inc. reduced its stake in Carlisle Companies by 4.0% during the first quarter, now holding 49,177 shares worth approximately $16.7 million.
• Carlisle Companies reported a missed EPS forecast of $6.27 against the consensus estimate of $6.67, with a net margin of 16.12% and revenue of $1.45 billion for the quarter.
• The company announced an increase in its quarterly dividend to $1.10, reflecting an annualized payout of $4.40 and a dividend yield of 1.1%.

Corebridge Financial Inc. reduced its stake in shares of Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 4.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,177 shares of the conglomerate's stock after selling 2,038 shares during the quarter. Corebridge Financial Inc. owned 0.11% of Carlisle Companies worth $16,745,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC boosted its position in Carlisle Companies by 4.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,148,796 shares of the conglomerate's stock valued at $394,244,000 after buying an additional 49,102 shares during the period. Madison Asset Management LLC boosted its position in Carlisle Companies by 28.2% during the 1st quarter. Madison Asset Management LLC now owns 515,134 shares of the conglomerate's stock valued at $175,403,000 after buying an additional 113,312 shares during the period. GAMMA Investing LLC increased its stake in shares of Carlisle Companies by 38,164.5% during the first quarter. GAMMA Investing LLC now owns 507,005 shares of the conglomerate's stock valued at $172,635,000 after buying an additional 505,680 shares during the period. Bessemer Group Inc. raised its holdings in shares of Carlisle Companies by 8.4% during the first quarter. Bessemer Group Inc. now owns 504,790 shares of the conglomerate's stock valued at $171,880,000 after acquiring an additional 39,329 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Carlisle Companies by 11.3% during the first quarter. Dimensional Fund Advisors LP now owns 499,341 shares of the conglomerate's stock valued at $170,017,000 after acquiring an additional 50,578 shares in the last quarter. 89.52% of the stock is owned by institutional investors.

Carlisle Companies Stock Performance

Shares of NYSE CSL traded down $0.20 during trading on Friday, hitting $386.13. The company had a trading volume of 268,454 shares, compared to its average volume of 438,318. The stock has a 50 day simple moving average of $391.28 and a 200 day simple moving average of $370.63. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.47 and a current ratio of 2.19. Carlisle Companies Incorporated has a 12 month low of $311.41 and a 12 month high of $481.26. The firm has a market capitalization of $16.51 billion, a P/E ratio of 21.57, a price-to-earnings-growth ratio of 1.24 and a beta of 1.05.

Carlisle Companies (NYSE:CSL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The conglomerate reported $6.27 EPS for the quarter, missing the consensus estimate of $6.67 by ($0.40). Carlisle Companies had a return on equity of 38.16% and a net margin of 16.12%.The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the business earned $6.24 EPS. The firm's quarterly revenue was down .1% compared to the same quarter last year. As a group, analysts anticipate that Carlisle Companies Incorporated will post 22.31 earnings per share for the current year.

Carlisle Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.1%. This is an increase from Carlisle Companies's previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Tuesday, August 19th. Carlisle Companies's dividend payout ratio is 24.58%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Loop Capital cut shares of Carlisle Companies from a "buy" rating to a "hold" rating and cut their price objective for the stock from $430.00 to $395.00 in a report on Thursday, July 31st. Wall Street Zen upgraded shares of Carlisle Companies from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. Finally, JPMorgan Chase & Co. began coverage on shares of Carlisle Companies in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $500.00 price target on the stock. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $450.83.

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.