VELA Investment Management LLC Acquires Shares of 15,706 Carlisle Companies Incorporated $CSL

Key Points

• VELA Investment Management acquired 15,706 shares of Carlisle (NYSE:CSL) in Q4, a stake worth about $5.02 million that represents roughly 1.2% of VELA’s holdings and is its 18th-largest position.
• Insider selling: CEO D. Christian Koch sold 36,260 shares for about $15.0 million (reducing his stake by 24.25%), and insiders have sold 68,289 shares (≈$28.1 million) over the past 90 days.
• Mixed quarterly results: Carlisle reported EPS of $3.63, beating estimates of $3.31, while revenue fell 4% year-over-year to $1.05 billion and missed analyst revenue expectations.

VELA Investment Management LLC acquired a new stake in Carlisle Companies Incorporated (NYSE:CSL - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 15,706 shares of the conglomerate's stock, valued at approximately $5,024,000. Carlisle Companies makes up about 1.2% of VELA Investment Management LLC's holdings, making the stock its 18th biggest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Composition Wealth LLC grew its holdings in Carlisle Companies by 10.5% in the 4th quarter. Composition Wealth LLC now owns 735 shares of the conglomerate's stock valued at $235,000 after buying an additional 70 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of Carlisle Companies by 2.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 18,768 shares of the conglomerate's stock valued at $6,003,000 after acquiring an additional 482 shares during the period. Canandaigua National Bank & Trust Co. lifted its position in shares of Carlisle Companies by 15.2% during the 4th quarter. Canandaigua National Bank & Trust Co. now owns 5,271 shares of the conglomerate's stock valued at $1,686,000 after acquiring an additional 695 shares during the period. Torren Management LLC bought a new stake in shares of Carlisle Companies during the 4th quarter valued at $33,000. Finally, M&T Bank Corp lifted its position in shares of Carlisle Companies by 30.5% during the 4th quarter. M&T Bank Corp now owns 4,408 shares of the conglomerate's stock valued at $1,410,000 after acquiring an additional 1,030 shares during the period. 89.52% of the stock is owned by institutional investors and hedge funds.

Carlisle Companies Stock Performance

NYSE:CSL opened at $356.62 on Friday. The stock's 50-day simple moving average is $355.16 and its 200 day simple moving average is $345.70. The firm has a market capitalization of $14.43 billion, a PE ratio of 20.97, a price-to-earnings-growth ratio of 1.13 and a beta of 0.88. The company has a quick ratio of 2.49, a current ratio of 3.38 and a debt-to-equity ratio of 1.74. Carlisle Companies Incorporated has a twelve month low of $293.43 and a twelve month high of $435.92.

Carlisle Companies (NYSE:CSL - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The conglomerate reported $3.63 earnings per share for the quarter, beating the consensus estimate of $3.31 by $0.32. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.45 billion. Carlisle Companies had a return on equity of 43.78% and a net margin of 14.57%.Carlisle Companies's revenue was down 4.0% compared to the same quarter last year. During the same period last year, the firm posted $3.61 earnings per share. On average, analysts anticipate that Carlisle Companies Incorporated will post 21.13 EPS for the current fiscal year.

Carlisle Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be paid a $1.10 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $4.40 annualized dividend and a yield of 1.2%. Carlisle Companies's dividend payout ratio (DPR) is 25.87%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their target price on Carlisle Companies from $400.00 to $420.00 and gave the company an "overweight" rating in a research report on Monday, March 9th. Oppenheimer upped their target price on Carlisle Companies from $420.00 to $425.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. William Blair reiterated a "market perform" rating on shares of Carlisle Companies in a research report on Wednesday, March 18th. Zacks Research upgraded Carlisle Companies from a "strong sell" rating to a "hold" rating in a research report on Monday, March 16th. Finally, Robert W. Baird upped their target price on Carlisle Companies from $402.00 to $425.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Carlisle Companies currently has an average rating of "Hold" and an average price target of $405.00.

Insiders Place Their Bets

In related news, CEO D Christian Koch sold 36,260 shares of the firm's stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $413.38, for a total value of $14,989,158.80. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP David W. Smith sold 1,800 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $414.05, for a total value of $745,290.00. Following the completion of the transaction, the vice president owned 3,697 shares of the company's stock, valued at $1,530,742.85. This represents a 32.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 68,289 shares of company stock valued at $28,125,467. 1.30% of the stock is owned by corporate insiders.

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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