Strs Ohio Sells 16,933 Shares of Carlisle Companies Incorporated $CSL

Key Points

• Strs Ohio cut its Carlisle stake by 30.2%, selling 16,933 shares and now holds 39,092 shares (about 0.09% of the company) valued at roughly $12.5 million per its SEC filing.
• Carlisle reported EPS of $3.63 beating estimates of $3.31, but revenue fell 4% year-over-year to $1.05 billion and significantly missed analysts' expectations of $1.45 billion.
• Company insiders have been net sellers: CEO D. Christian Koch sold 36,260 shares and CFO Kevin Zdimal sold 24,180 on Feb. 10, with insiders disposing of 68,289 shares (~$28.1 million) over the last 90 days, leaving insiders owning about 1.3%.

Strs Ohio decreased its position in Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 30.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,092 shares of the conglomerate's stock after selling 16,933 shares during the quarter. Strs Ohio owned approximately 0.09% of Carlisle Companies worth $12,504,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Goldman Sachs Group Inc. lifted its position in Carlisle Companies by 36.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 105,468 shares of the conglomerate's stock worth $35,912,000 after acquiring an additional 28,414 shares during the last quarter. Baird Financial Group Inc. grew its position in shares of Carlisle Companies by 8.4% in the second quarter. Baird Financial Group Inc. now owns 2,549 shares of the conglomerate's stock valued at $952,000 after purchasing an additional 197 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Carlisle Companies in the second quarter valued at about $1,345,000. Bank of Nova Scotia lifted its position in shares of Carlisle Companies by 118.6% during the 2nd quarter. Bank of Nova Scotia now owns 1,646 shares of the conglomerate's stock worth $615,000 after purchasing an additional 893 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in Carlisle Companies by 40.0% during the 2nd quarter. Sei Investments Co. now owns 115,396 shares of the conglomerate's stock valued at $43,088,000 after purchasing an additional 32,996 shares during the period. 89.52% of the stock is currently owned by institutional investors and hedge funds.

Carlisle Companies Stock Performance

NYSE CSL opened at $346.48 on Tuesday. Carlisle Companies Incorporated has a twelve month low of $293.43 and a twelve month high of $435.92. The company has a quick ratio of 2.58, a current ratio of 3.38 and a debt-to-equity ratio of 1.74. The stock has a market cap of $14.02 billion, a P/E ratio of 20.37, a PEG ratio of 1.13 and a beta of 0.88. The company's 50-day simple moving average is $355.16 and its 200 day simple moving average is $345.81.

Carlisle Companies (NYSE:CSL - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The conglomerate reported $3.63 EPS for the quarter, topping analysts' consensus estimates of $3.31 by $0.32. Carlisle Companies had a net margin of 14.57% and a return on equity of 43.78%. The firm had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.45 billion. During the same quarter last year, the company earned $3.61 earnings per share. The company's revenue for the quarter was down 4.0% compared to the same quarter last year. As a group, research analysts forecast that Carlisle Companies Incorporated will post 21.13 earnings per share for the current fiscal year.

Carlisle Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Monday, May 18th. Carlisle Companies's dividend payout ratio is 25.87%.

Insider Buying and Selling

In related news, CEO D Christian Koch sold 36,260 shares of Carlisle Companies stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $413.38, for a total transaction of $14,989,158.80. Following the completion of the transaction, the chief executive officer directly owned 113,238 shares of the company's stock, valued at $46,810,324.44. This trade represents a 24.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kevin P. Zdimal sold 24,180 shares of the company's stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $408.04, for a total transaction of $9,866,407.20. Following the sale, the chief financial officer directly owned 30,094 shares in the company, valued at $12,279,555.76. This represents a 44.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 68,289 shares of company stock valued at $28,125,467. 1.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on CSL shares. Truist Financial lifted their price target on Carlisle Companies from $340.00 to $360.00 and gave the stock a "hold" rating in a research report on Friday, April 24th. William Blair restated a "market perform" rating on shares of Carlisle Companies in a research note on Wednesday, March 18th. Robert W. Baird boosted their target price on shares of Carlisle Companies from $402.00 to $425.00 and gave the stock an "outperform" rating in a research report on Friday, April 24th. Raymond James Financial started coverage on shares of Carlisle Companies in a report on Monday, April 27th. They issued an "outperform" rating and a $425.00 price target for the company. Finally, Zacks Research upgraded shares of Carlisle Companies from a "strong sell" rating to a "hold" rating in a report on Monday, March 16th. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $405.00.

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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