Heartland Advisors Inc. Purchases 7,355 Shares of Carlisle Companies Incorporated $CSL

Key Points

• Heartland Advisors increased its stake in Carlisle Companies by 88.7% in the first quarter, buying 7,355 additional shares and bringing its total holding to 15,644 shares worth about $5.2 million.
• Carlisle’s stock was down slightly, opening at $345.03, while institutional investors remain heavily involved, owning 89.52% of the company.
• The company recently beat earnings expectations with $3.63 EPS versus the $3.31 estimate, but revenue came in below forecasts at $1.05 billion; analysts currently have a consensus Hold rating with a $402.14 target price.

Heartland Advisors Inc. grew its position in shares of Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 88.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,644 shares of the conglomerate's stock after buying an additional 7,355 shares during the quarter. Heartland Advisors Inc.'s holdings in Carlisle Companies were worth $5,219,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in CSL. First Manhattan CO. LLC. bought a new position in Carlisle Companies in the 4th quarter valued at approximately $140,256,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Carlisle Companies by 10,568.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 389,198 shares of the conglomerate's stock worth $124,489,000 after purchasing an additional 385,550 shares in the last quarter. Generation Investment Management LLP purchased a new position in shares of Carlisle Companies in the fourth quarter worth $109,217,000. Norges Bank purchased a new position in shares of Carlisle Companies in the fourth quarter worth $87,543,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Carlisle Companies by 26.8% in the first quarter. Bank of New York Mellon Corp now owns 1,191,660 shares of the conglomerate's stock worth $397,561,000 after purchasing an additional 251,614 shares during the last quarter. Institutional investors own 89.52% of the company's stock.

Carlisle Companies Stock Down 0.1%

Carlisle Companies stock opened at $345.03 on Monday. Carlisle Companies Incorporated has a one year low of $293.43 and a one year high of $435.92. The stock has a fifty day moving average of $348.34 and a 200 day moving average of $355.69. 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 stock has a market cap of $13.96 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 1.09 and a beta of 0.85.

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

Carlisle Companies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.3%. The ex-dividend date was Monday, May 18th. Carlisle Companies's payout ratio is 25.87%.

Analyst Upgrades and Downgrades

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

Carlisle Companies Company 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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