Hsbc Holdings PLC Sells 4,475 Shares of Carlisle Companies Incorporated $CSL

Key Points

• Hsbc Holdings PLC reduced its Carlisle Companies stake by 19.6%, selling 4,475 shares and retaining 18,394 shares valued at approximately $6.68 million. Hedge funds and institutional investors collectively own 89.52% of CSL.
• Carlisle reported quarterly earnings of $7.03 per share, exceeding estimates of $6.35, while revenue rose 8.3% year over year to $1.57 billion.
• The company increased its quarterly dividend to $1.25 per share, or $5.00 annually, producing a 1.5% yield. Analysts maintain a consensus “Hold” rating with an average price target of $402.43.

Hsbc Holdings PLC cut its position in shares of Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 19.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,394 shares of the conglomerate's stock after selling 4,475 shares during the period. Hsbc Holdings PLC's holdings in Carlisle Companies were worth $6,678,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Empowered Funds LLC bought a new stake in shares of Carlisle Companies in the 2nd quarter valued at about $1,914,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in shares of Carlisle Companies in the 4th quarter worth approximately $8,582,000. SEB Asset Management AB bought a new position in shares of Carlisle Companies during the first quarter valued at approximately $6,783,000. Lazard Asset Management LLC boosted its stake in shares of Carlisle Companies by 5.5% during the first quarter. Lazard Asset Management LLC now owns 190,650 shares of the conglomerate's stock valued at $63,605,000 after purchasing an additional 10,009 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in Carlisle Companies during the first quarter valued at approximately $2,183,000. 89.52% of the stock is currently owned by hedge funds and other institutional investors.

Carlisle Companies Price Performance

NYSE CSL opened at $337.66 on Thursday. The firm's fifty day simple moving average is $354.90 and its two-hundred day simple moving average is $353.61. The firm has a market capitalization of $13.41 billion, a P/E ratio of 19.37, a P/E/G ratio of 1.07 and a beta of 0.84. The company has a current ratio of 2.60, a quick ratio of 2.04 and a debt-to-equity ratio of 1.78. Carlisle Companies Incorporated has a 12-month low of $293.43 and a 12-month high of $432.91.

Carlisle Companies (NYSE:CSL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The conglomerate reported $7.03 EPS for the quarter, beating the consensus estimate of $6.35 by $0.68. Carlisle Companies had a return on equity of 47.58% and a net margin of 14.21%.The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the business posted $6.27 EPS. The business's revenue for the quarter was up 8.3% compared to the same quarter last year. Analysts forecast that Carlisle Companies Incorporated will post 21.27 EPS for the current fiscal year.

Carlisle Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th were issued a $1.25 dividend. This is a boost from Carlisle Companies's previous quarterly dividend of $1.10. This represents a $5.00 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Wednesday, August 19th. Carlisle Companies's dividend payout ratio is 28.69%.

Analysts Set New Price Targets

A number of analysts have weighed in on CSL shares. Weiss Ratings upgraded Carlisle Companies from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, August 26th. Truist Financial cut their price target on Carlisle Companies from $360.00 to $340.00 and set a "hold" rating on the stock in a report on Tuesday, July 7th. Robert W. Baird set a $412.00 price target on Carlisle Companies in a research report on Thursday, July 30th. Finally, DA Davidson started coverage on Carlisle Companies in a research note on Monday, August 24th. They set a "neutral" rating and a $410.00 price objective for the company. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $402.43.

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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