Laurus Global Equity Management Inc. Has $4.04 Million Stock Holdings in Carlisle Companies Incorporated $CSL

Key Points

• Laurus Global Equity Management Inc. increased its stake in Carlisle Companies by 219.2%, now holding 10,820 shares valued at $4.04 million, making it the firm's 11th largest position.
• Carlisle Companies reported a missed earnings estimate for the last quarter, with EPS of $6.27 compared to an expected $6.67, and the revenue also fell short of expectations at $1.45 billion.
• The company announced a dividend increase from $1.00 to $1.10 per share, reflecting a payout ratio of 24.58% and a dividend yield of 1.3%.

Laurus Global Equity Management Inc. raised its stake in Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 219.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,820 shares of the conglomerate's stock after purchasing an additional 7,430 shares during the period. Carlisle Companies accounts for approximately 2.6% of Laurus Global Equity Management Inc.'s investment portfolio, making the stock its 11th biggest position. Laurus Global Equity Management Inc.'s holdings in Carlisle Companies were worth $4,040,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CSL. Cambridge Investment Research Advisors Inc. lifted its position in Carlisle Companies by 35.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 11,459 shares of the conglomerate's stock worth $3,902,000 after acquiring an additional 2,976 shares during the last quarter. Spire Wealth Management lifted its holdings in Carlisle Companies by 2.8% during the 1st quarter. Spire Wealth Management now owns 1,960 shares of the conglomerate's stock worth $667,000 after purchasing an additional 54 shares during the last quarter. CX Institutional acquired a new stake in shares of Carlisle Companies during the first quarter worth $49,000. GAMMA Investing LLC boosted its position in shares of Carlisle Companies by 12.4% in the first quarter. GAMMA Investing LLC now owns 1,489 shares of the conglomerate's stock valued at $507,000 after acquiring an additional 164 shares during the period. Finally, Strs Ohio acquired a new position in shares of Carlisle Companies in the first quarter valued at about $17,025,000. Institutional investors and hedge funds own 89.52% of the company's stock.

Carlisle Companies Price Performance

Carlisle Companies stock opened at $328.25 on Monday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.47 and a current ratio of 2.19. Carlisle Companies Incorporated has a 52 week low of $311.41 and a 52 week high of $481.26. The stock has a market capitalization of $14.03 billion, a P/E ratio of 18.34, a price-to-earnings-growth ratio of 1.06 and a beta of 1.00. The stock has a fifty day moving average of $368.43 and a 200-day moving average of $373.28.

Carlisle Companies (NYSE:CSL - Get Free Report) last released its earnings results on Wednesday, July 30th. The conglomerate reported $6.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $6.67 by ($0.40). The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.50 billion. Carlisle Companies had a net margin of 16.12% and a return on equity of 38.16%. The business's revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.24 EPS. On average, sell-side analysts expect that Carlisle Companies Incorporated will post 22.31 earnings per share for the current fiscal year.

Carlisle Companies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were paid a dividend of $1.10 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This is a boost from Carlisle Companies's previous quarterly dividend of $1.00. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.3%. Carlisle Companies's payout ratio is presently 24.58%.

Analysts Set New Price Targets

CSL has been the subject of several analyst reports. Zacks Research cut shares of Carlisle Companies from a "hold" rating to a "strong sell" rating in a research note on Tuesday, September 23rd. Truist Financial dropped their price target on shares of Carlisle Companies from $380.00 to $350.00 and set a "hold" rating for the company in a research report on Monday, September 22nd. Loop Capital downgraded Carlisle Companies from a "buy" rating to a "hold" rating and reduced their price target for the stock from $430.00 to $395.00 in a research report on Thursday, July 31st. JPMorgan Chase & Co. lowered their price objective on Carlisle Companies from $480.00 to $410.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 17th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Carlisle Companies in a research report on Saturday, September 27th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $429.17.

Carlisle Companies Profile

Carlisle Companies Incorporated operates as a manufacturer and supplier of building envelope products and solutions in the United States, Europe, North America, Asia and the Middle East, Africa, and internationally. It operates through two segments: Carlisle Construction Materials and Carlisle Weatherproofing Technologies.

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