Wedge Capital Management L L P NC Trims Position in Carlisle Companies Incorporated $CSL

Key Points

• Wedge Capital Management L L P NC has reduced its stake in Carlisle Companies Incorporated (NYSE:CSL) by 2.1%, now owning approximately 59,640 shares valued at $22.27 million.
• Several institutional investors have acted on their positions in Carlisle Companies, with some increasing their stakes significantly in the first quarter of the year, while 89.52% of the stock is now owned by institutional investors and hedge funds.
• Carlisle Companies reported earnings per share of $6.27 for the last quarter, missing estimates, and announced an increased quarterly dividend, now at $1.10 per share.

Wedge Capital Management L L P NC trimmed its position in shares of Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 2.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,640 shares of the conglomerate's stock after selling 1,298 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.14% of Carlisle Companies worth $22,270,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Dagco Inc. purchased a new stake in Carlisle Companies in the 1st quarter valued at about $27,000. MAI Capital Management lifted its position in shares of Carlisle Companies by 37.8% during the 1st quarter. MAI Capital Management now owns 124 shares of the conglomerate's stock worth $42,000 after buying an additional 34 shares during the period. CX Institutional acquired a new stake in shares of Carlisle Companies in the 1st quarter valued at $49,000. Wayfinding Financial LLC acquired a new position in Carlisle Companies in the first quarter valued at about $55,000. Finally, Allworth Financial LP grew its position in shares of Carlisle Companies by 32.8% in the first quarter. Allworth Financial LP now owns 170 shares of the conglomerate's stock valued at $58,000 after purchasing an additional 42 shares during the last quarter. 89.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their price target on shares of Carlisle Companies from $480.00 to $410.00 and set an "overweight" rating for the company in a research report on Wednesday. Loop Capital cut shares of Carlisle Companies from a "buy" rating to a "hold" rating and reduced their target price for the company from $430.00 to $395.00 in a research report on Thursday, July 31st. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $435.83.

Carlisle Companies Stock Performance

Shares of CSL opened at $337.94 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.47 and a current ratio of 2.19. The stock's 50-day simple moving average is $384.90 and its 200 day simple moving average is $373.12. 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 $14.45 billion, a price-to-earnings ratio of 18.88, a price-to-earnings-growth ratio of 1.06 and a beta of 1.05.

Carlisle Companies (NYSE:CSL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The conglomerate reported $6.27 earnings per share for the quarter, missing analysts' consensus estimates of $6.67 by ($0.40). The business had revenue of $1.45 billion for 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%. Carlisle Companies's quarterly revenue was down .1% on a year-over-year basis. During the same period in the prior year, the company earned $6.24 EPS. Research analysts forecast that Carlisle Companies Incorporated will post 22.31 EPS for the current fiscal year.

Carlisle Companies Increases Dividend

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

About Carlisle Companies

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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