Illinois Municipal Retirement Fund Increases Stake in Carlisle Companies Incorporated $CSL

Key Points

• Illinois Municipal Retirement Fund increased its stake in Carlisle Companies by 259.1% in the first quarter, ending with 15,601 shares worth about $5.2 million.
• Carlisle reported better-than-expected earnings of $3.63 per share for the quarter, but revenue came in below estimates at $1.05 billion and fell 4% from a year earlier.
• The company also paid a quarterly dividend of $1.10 per share, while analysts currently have a mixed view on the stock with an average rating of “Hold” and a price target around $402.14.

Illinois Municipal Retirement Fund boosted its position in Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 259.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 15,601 shares of the conglomerate's stock after acquiring an additional 11,256 shares during the period. Illinois Municipal Retirement Fund's holdings in Carlisle Companies were worth $5,205,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CSL. First Manhattan CO. LLC. purchased a new stake in shares of Carlisle Companies during the 4th quarter valued at approximately $140,256,000. Northwestern Mutual Wealth Management Co. grew its stake in 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 valued at $124,489,000 after buying an additional 385,550 shares in the last quarter. Generation Investment Management LLP bought a new stake in Carlisle Companies during the 4th quarter valued at $109,217,000. Norges Bank bought a new stake in Carlisle Companies during the 4th quarter valued at $87,543,000. Finally, Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Carlisle Companies during the fourth quarter worth $76,626,000. 89.52% of the stock is owned by hedge funds and other institutional investors.

Carlisle Companies Stock Down 2.2%

CSL opened at $345.03 on Friday. The firm has a market capitalization of $13.96 billion, a P/E ratio of 20.28, a price-to-earnings-growth ratio of 1.09 and a beta of 0.85. Carlisle Companies Incorporated has a one year low of $293.43 and a one year high of $435.92. The company has a fifty day moving average price of $348.34 and a 200-day moving average price of $355.49. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.38 and a quick ratio of 2.58.

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

Carlisle Companies Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Carlisle Companies in a research report on Wednesday, June 24th. Robert W. Baird increased their price objective on Carlisle Companies from $402.00 to $425.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Oppenheimer raised their target price on Carlisle Companies from $420.00 to $425.00 and gave the stock an "outperform" rating in a research note on Friday, April 24th. Raymond James Financial started coverage on Carlisle Companies in a report on Monday, April 27th. They set an "outperform" rating and a $425.00 target price for the company. Finally, Truist Financial decreased their price target on Carlisle Companies from $360.00 to $340.00 and set a "hold" rating on the stock in a research report on Tuesday, July 7th. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Carlisle Companies 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.

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