Fifth Third Bancorp Raises Position in Carlisle Companies Incorporated $CSL

Key Points

• Fifth Third Bancorp increased its stake in Carlisle Companies by 1,428.5% in the first quarter, ending with 17,425 shares valued at about $5.8 million.
• Carlisle reported Q1 EPS of $3.63, topping analyst expectations, though revenue came in at $1.05 billion and declined 4% year over year.
• The company paid a quarterly dividend of $1.10 per share, and Wall Street remains mixed on the stock with an overall Hold rating and an average price target of $402.14.

Fifth Third Bancorp grew its stake in Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 1,428.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,425 shares of the conglomerate's stock after purchasing an additional 16,285 shares during the period. Fifth Third Bancorp's holdings in Carlisle Companies were worth $5,813,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Goldman Sachs Group Inc. boosted its stake in Carlisle Companies by 36.9% during the first quarter. Goldman Sachs Group Inc. now owns 105,468 shares of the conglomerate's stock worth $35,912,000 after buying an additional 28,414 shares during the period. Baird Financial Group Inc. raised its stake in shares of Carlisle Companies by 8.4% in the second quarter. Baird Financial Group Inc. now owns 2,549 shares of the conglomerate's stock valued at $952,000 after acquiring an additional 197 shares during the period. Jump Financial LLC purchased a new stake in shares of Carlisle Companies in the second quarter valued at $1,345,000. Bank of Nova Scotia lifted its holdings in shares of Carlisle Companies by 118.6% in the 2nd quarter. Bank of Nova Scotia now owns 1,646 shares of the conglomerate's stock worth $615,000 after acquiring an additional 893 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Carlisle Companies by 40.0% in the 2nd quarter. Sei Investments Co. now owns 115,396 shares of the conglomerate's stock worth $43,088,000 after acquiring an additional 32,996 shares during the last quarter. Hedge funds and other institutional investors own 89.52% of the company's stock.

Carlisle Companies Stock Performance

Carlisle Companies stock opened at $352.28 on Friday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 2.58 and a current ratio of 3.38. The company has a market capitalization of $14.26 billion, a PE ratio of 20.71, a P/E/G ratio of 1.08 and a beta of 0.85. The company has a 50 day moving average price of $348.65 and a 200-day moving average price of $355.56. Carlisle Companies Incorporated has a fifty-two week low of $293.43 and a fifty-two week high of $435.92.

Carlisle Companies (NYSE:CSL - Get Free Report) last issued its earnings results on Thursday, April 23rd. The conglomerate reported $3.63 earnings per share for the quarter, beating analysts' consensus estimates of $3.31 by $0.32. Carlisle Companies had a return on equity of 43.78% and a net margin of 14.57%.The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period in the previous year, the company posted $3.61 EPS. Carlisle Companies's revenue was down 4.0% on a year-over-year basis. As a group, equities analysts forecast that Carlisle Companies Incorporated will post 21.16 earnings per share for the current year.

Carlisle Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were issued a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Monday, May 18th. Carlisle Companies's payout ratio is presently 25.87%.

Analyst Ratings Changes

CSL has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Carlisle Companies in a research note on Wednesday, June 24th. Truist Financial decreased their price objective on shares of Carlisle Companies from $360.00 to $340.00 and set a "hold" rating for the company in a research note on Tuesday, July 7th. Robert W. Baird raised their price objective on shares of Carlisle Companies from $402.00 to $425.00 and gave the stock an "outperform" rating in a research note on Friday, April 24th. Raymond James Financial assumed coverage on Carlisle Companies in a research report on Monday, April 27th. They set an "outperform" rating and a $425.00 target price for the company. Finally, Oppenheimer upped their target price on Carlisle Companies from $420.00 to $425.00 and gave the company an "outperform" rating in a research note on Friday, April 24th. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $402.14.

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.

Want to see what other hedge funds are holding CSL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carlisle Companies Incorporated (NYSE:CSL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.