Cramer Rosenthal Mcglynn LLC Takes $3.08 Million Position in Carlisle Companies Incorporated $CSL

Key Points

• Cramer Rosenthal Mcglynn LLC opened a new position in Carlisle Companies (NYSE: CSL) in Q3, buying 9,350 shares valued at about $3.08 million.
• Company insiders have been net sellers recently — a total of 68,289 shares worth $28.13 million were sold in the last 90 days, including CEO D. Christian Koch’s sale of 36,260 shares (~$14.99 million); insiders now own 1.50% of the stock.
• Carlisle topped expectations for the quarter with $3.90 EPS vs. $3.60 expected and $1.13B revenue vs. $1.11B expected, and it declared a quarterly dividend of $1.10 (annualized $4.40, ~1.2% yield).

Cramer Rosenthal Mcglynn LLC acquired a new position in Carlisle Companies Incorporated (NYSE:CSL - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 9,350 shares of the conglomerate's stock, valued at approximately $3,076,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its holdings in Carlisle Companies by 113.9% in the third quarter. Bank of New York Mellon Corp now owns 1,049,039 shares of the conglomerate's stock worth $345,092,000 after purchasing an additional 558,710 shares during the last quarter. Barclays PLC grew its stake in Carlisle Companies by 947.3% during the 3rd quarter. Barclays PLC now owns 499,341 shares of the conglomerate's stock worth $164,263,000 after buying an additional 451,662 shares during the last quarter. Sands Capital Management LLC acquired a new position in Carlisle Companies during the 2nd quarter valued at about $159,203,000. JPMorgan Chase & Co. raised its stake in Carlisle Companies by 33.2% in the second quarter. JPMorgan Chase & Co. now owns 1,437,703 shares of the conglomerate's stock valued at $536,842,000 after buying an additional 358,241 shares during the last quarter. Finally, Norges Bank purchased a new stake in Carlisle Companies in the second quarter valued at about $128,856,000. Hedge funds and other institutional investors own 89.52% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Carlisle Companies in a report on Monday, December 29th. Robert W. Baird set a $420.00 price target on shares of Carlisle Companies in a report on Wednesday, February 4th. William Blair initiated coverage on shares of Carlisle Companies in a report on Friday, January 30th. They set a "market perform" rating on the stock. Finally, Oppenheimer upped their target price on Carlisle Companies from $400.00 to $435.00 and gave the company an "outperform" rating in a research report on Friday, February 27th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Carlisle Companies presently has a consensus rating of "Hold" and an average target price of $395.83.

Insider Activity

In other Carlisle Companies news, VP David W. Smith sold 1,800 shares of Carlisle Companies stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $414.05, for a total value of $745,290.00. Following the completion of the transaction, the vice president owned 3,697 shares of the company's stock, valued at approximately $1,530,742.85. The trade was a 32.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO D Christian Koch sold 36,260 shares of the stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $413.38, for a total transaction of $14,989,158.80. Following the sale, the chief executive officer directly owned 113,238 shares in the company, valued at approximately $46,810,324.44. The trade was a 24.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 68,289 shares of company stock worth $28,125,467 in the last ninety days. Corporate insiders own 1.50% of the company's stock.

Carlisle Companies Stock Down 3.5%

NYSE:CSL opened at $375.56 on Friday. The company has a debt-to-equity ratio of 1.60, a current ratio of 3.09 and a quick ratio of 2.49. The company's fifty day moving average price is $369.74 and its 200-day moving average price is $349.38. Carlisle Companies Incorporated has a 1-year low of $293.43 and a 1-year high of $435.92. The firm has a market capitalization of $15.35 billion, a P/E ratio of 21.95, a PEG ratio of 1.25 and a beta of 0.91.

Carlisle Companies (NYSE:CSL - Get Free Report) last announced its quarterly earnings results on Tuesday, February 3rd. The conglomerate reported $3.90 earnings per share for the quarter, topping the consensus estimate of $3.60 by $0.30. Carlisle Companies had a return on equity of 41.58% and a net margin of 14.76%.The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the firm earned $4.47 EPS. The firm's revenue for the quarter was up .4% compared to the same quarter last year. As a group, equities research analysts anticipate that Carlisle Companies Incorporated will post 22.31 EPS for the current year.

Carlisle Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Tuesday, February 17th were issued a dividend of $1.10 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $4.40 dividend on an annualized basis and a yield of 1.2%. Carlisle Companies's dividend payout ratio is 25.72%.

Carlisle Companies Profile

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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