Cresset Asset Management LLC Lowers Position in Carlisle Companies Incorporated $CSL

Key Points

• Cresset Asset Management LLC reduced its stake in Carlisle Companies by 46.8%, selling 896 shares, bringing their total to 1,018 shares valued at $347,000 as of the latest SEC filing.
• Recent analyst ratings for Carlisle Companies include a downgrade from Loop Capital to a "hold" rating with a price target of $395, while JPMorgan Chase set an "overweight" rating with a target of $500.
• Carlisle Companies announced a dividend increase to $1.10 per share, up from $1.00, with an annualized yield of 1.1%, reflecting a payout ratio of 24.58%.

Cresset Asset Management LLC lowered its position in Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 46.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,018 shares of the conglomerate's stock after selling 896 shares during the quarter. Cresset Asset Management LLC's holdings in Carlisle Companies were worth $347,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CSL. Dagco Inc. purchased a new position in shares of Carlisle Companies in the 1st quarter valued at approximately $27,000. CX Institutional purchased a new position in shares of Carlisle Companies in the 1st quarter valued at approximately $49,000. Wayfinding Financial LLC purchased a new position in shares of Carlisle Companies in the 1st quarter valued at approximately $55,000. Allworth Financial LP grew its stake in shares of Carlisle Companies by 32.8% in the 1st quarter. Allworth Financial LP now owns 170 shares of the conglomerate's stock valued at $58,000 after purchasing an additional 42 shares during the last quarter. Finally, Harbour Investments Inc. raised its stake in shares of Carlisle Companies by 277.1% during the 1st quarter. Harbour Investments Inc. now owns 181 shares of the conglomerate's stock worth $62,000 after buying an additional 133 shares in the last quarter. Hedge funds and other institutional investors own 89.52% of the company's stock.

Carlisle Companies Price Performance

Shares of CSL traded down $0.20 during mid-day trading on Friday, reaching $386.13. 268,454 shares of the company's stock were exchanged, compared to its average volume of 402,986. The company has a quick ratio of 1.47, a current ratio of 2.19 and a debt-to-equity ratio of 0.89. The company has a 50-day simple moving average of $391.28 and a two-hundred day simple moving average of $370.69. Carlisle Companies Incorporated has a 52-week low of $311.41 and a 52-week high of $481.26. The company has a market cap of $16.51 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 1.24 and a beta of 1.05.

Carlisle Companies (NYSE:CSL - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The conglomerate reported $6.27 earnings per share (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 firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the business earned $6.24 earnings per share. Carlisle Companies's revenue for the quarter was down .1% on a year-over-year basis. On average, sell-side analysts predict that Carlisle Companies Incorporated will post 22.31 EPS for the current fiscal year.

Carlisle Companies Increases Dividend

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

Analyst Upgrades and Downgrades

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

Carlisle Companies Profile

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.