L2 Asset Management LLC Invests $3.63 Million in Carlisle Companies Incorporated $CSL

Key Points

• L2 Asset Management purchased 10,001 shares of Carlisle Companies in the second quarter, valued at approximately $3.63 million. Institutional investors collectively own 89.52% of CSL’s outstanding shares.
• Carlisle reported quarterly earnings of $7.03 per share and revenue of $1.57 billion, exceeding analyst expectations; revenue increased 8.3% year over year.
• The company raised its quarterly dividend to $1.25 per share, implying an annualized dividend of $5.00 and a 1.4% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $402.43.

L2 Asset Management LLC purchased a new stake in Carlisle Companies Incorporated (NYSE:CSL - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,001 shares of the conglomerate's stock, valued at approximately $3,628,000.

A number of other institutional investors have also recently added to or reduced their stakes in CSL. BOK Financial Private Wealth Inc. acquired a new stake in shares of Carlisle Companies in the 4th quarter worth $27,000. Signature Equity Partners LLC raised its holdings in shares of Carlisle Companies by 3,133.3% during the 1st quarter. Signature Equity Partners LLC now owns 97 shares of the conglomerate's stock worth $32,000 after acquiring an additional 94 shares during the period. Torren Management LLC acquired a new position in shares of Carlisle Companies during the 4th quarter valued at about $33,000. Allied Private Wealth LLC acquired a new position in shares of Carlisle Companies during the 2nd quarter valued at about $33,000. Finally, Osterweis Capital Management Inc. purchased a new stake in shares of Carlisle Companies in the second quarter valued at about $36,000. Hedge funds and other institutional investors own 89.52% of the company's stock.

Carlisle Companies Stock Down 1.5%

Shares of NYSE:CSL opened at $362.34 on Tuesday. The business has a 50-day moving average price of $358.74 and a 200 day moving average price of $358.50. The company has a current ratio of 2.60, a quick ratio of 2.04 and a debt-to-equity ratio of 1.78. The company has a market capitalization of $14.39 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 1.15 and a beta of 0.85. 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 posted its quarterly earnings data on Wednesday, July 29th. The conglomerate reported $7.03 earnings per share for the quarter, topping analysts' consensus estimates of $6.35 by $0.68. Carlisle Companies had a net margin of 14.21% and a return on equity of 47.58%. The firm had revenue of $1.57 billion during the quarter, compared to analysts' expectations of $1.48 billion. During the same quarter last year, the company posted $6.27 EPS. The firm's quarterly revenue was up 8.3% on a year-over-year basis. Sell-side analysts expect that Carlisle Companies Incorporated will post 21.29 EPS for the current year.

Carlisle Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 19th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This is a boost from Carlisle Companies's previous quarterly dividend of $1.10. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.4%. Carlisle Companies's payout ratio is presently 28.69%.

Analysts Set New Price Targets

Several research firms recently issued reports on CSL. Truist Financial cut 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 report on Tuesday, July 7th. Raymond James Financial began coverage on shares of Carlisle Companies in a report on Monday, April 27th. They issued an "outperform" rating and a $425.00 target price on the stock. DA Davidson set a $410.00 price target on shares of Carlisle Companies in a report on Monday. Robert W. Baird set a $412.00 price target on shares of Carlisle Companies in a research report on Thursday, July 30th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Carlisle Companies in a research report on Wednesday, June 24th. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target 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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