Madison Asset Management LLC Makes New Investment in Carlisle Companies Incorporated $CSL

Key Points

• Madison Asset Management bought 421,406 shares of Carlisle Companies in the second quarter, valued at about $152.9 million. The position represents roughly 1.8% of Madison’s portfolio and 1.06% of Carlisle’s outstanding shares.
• 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 from $1.10 to $1.25 per share, equivalent to a $5.00 annualized payout and a 1.4% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $401.17.

Madison Asset Management LLC purchased a new stake in shares of Carlisle Companies Incorporated (NYSE:CSL - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 421,406 shares of the conglomerate's stock, valued at approximately $152,865,000. Carlisle Companies makes up about 1.8% of Madison Asset Management LLC's investment portfolio, making the stock its 8th largest position. Madison Asset Management LLC owned 1.06% of Carlisle Companies as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in Carlisle Companies during the fourth quarter worth about $8,582,000. SEB Asset Management AB bought a new position in shares of Carlisle Companies in the 1st quarter valued at about $6,783,000. Brandywine Global Investment Management LLC raised its position in Carlisle Companies by 49.3% during the fourth quarter. Brandywine Global Investment Management LLC now owns 86,311 shares of the conglomerate's stock worth $27,607,000 after acquiring an additional 28,493 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Carlisle Companies during the 1st quarter worth approximately $2,183,000. Finally, Welch & Forbes LLC lifted its position in shares of Carlisle Companies by 6.8% during the 1st quarter. Welch & Forbes LLC now owns 140,466 shares of the conglomerate's stock valued at $46,862,000 after acquiring an additional 8,940 shares during the period. 89.52% of the stock is owned by institutional investors.

Carlisle Companies Price Performance

CSL opened at $366.05 on Thursday. Carlisle Companies Incorporated has a 1 year low of $293.43 and a 1 year high of $432.91. The company has a debt-to-equity ratio of 1.78, a current ratio of 2.60 and a quick ratio of 2.04. The company has a market capitalization of $14.54 billion, a price-to-earnings ratio of 21.00, a P/E/G ratio of 1.12 and a beta of 0.85. The firm's fifty day moving average price is $357.77 and its two-hundred day moving average price is $358.16.

Carlisle Companies (NYSE:CSL - Get Free Report) last announced its earnings results 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 net margin of 14.21% and a return on equity of 47.58%. The company had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the company posted $6.27 earnings per share. The firm's revenue for the quarter was up 8.3% on a year-over-year basis. As a group, analysts anticipate that Carlisle Companies Incorporated will post 21.21 earnings per share for the current fiscal year.

Carlisle Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. This is an increase from Carlisle Companies's previous quarterly dividend of $1.10. Carlisle Companies's payout ratio is 25.24%.

Analysts Set New Price Targets

Several research firms have weighed in on CSL. Truist Financial cut their target price on Carlisle Companies from $360.00 to $340.00 and set a "hold" rating for the company in a research note on Tuesday, July 7th. Oppenheimer boosted their target price on shares of Carlisle Companies from $420.00 to $425.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Raymond James Financial started coverage on Carlisle Companies in a research note on Monday, April 27th. They issued an "outperform" rating and a $425.00 price target for the company. Weiss Ratings reissued a "hold (c)" rating on shares of Carlisle Companies in a research note on Wednesday, June 24th. Finally, Robert W. Baird set a $412.00 price target on Carlisle Companies in a report on Thursday, July 30th. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $401.17.

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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