Wedge Capital Management L L P NC Reduces Stock 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 lowered its stake in shares of Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 2.1% during the second quarter, according to its most recent Form 13F 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 about 0.14% of Carlisle Companies worth $22,270,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in shares of Carlisle Companies by 38,164.5% in the 1st quarter. GAMMA Investing LLC now owns 507,005 shares of the conglomerate's stock valued at $172,635,000 after acquiring an additional 505,680 shares during the last quarter. Cooke & Bieler LP bought a new stake in Carlisle Companies during the 1st quarter valued at $74,095,000. Pacer Advisors Inc. boosted its stake in Carlisle Companies by 1,611.7% during the 1st quarter. Pacer Advisors Inc. now owns 214,985 shares of the conglomerate's stock valued at $73,202,000 after purchasing an additional 202,425 shares during the last quarter. Nuveen LLC acquired a new position in Carlisle Companies during the 1st quarter valued at about $62,485,000. Finally, Victory Capital Management Inc. boosted its stake in Carlisle Companies by 112.3% during the 1st quarter. Victory Capital Management Inc. now owns 240,516 shares of the conglomerate's stock valued at $81,896,000 after purchasing an additional 127,234 shares during the last quarter. 89.52% of the stock is currently owned by institutional investors.

Carlisle Companies Trading Down 1.3%

CSL stock traded down $4.32 during trading on Tuesday, reaching $334.47. The company had a trading volume of 295,045 shares, compared to its average volume of 474,788. Carlisle Companies Incorporated has a 52 week low of $311.41 and a 52 week high of $481.26. The business has a 50 day moving average of $383.37 and a 200 day moving average of $373.66. The company has a market cap of $14.30 billion, a P/E ratio of 18.69, a PEG ratio of 1.09 and a beta of 1.05. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.19 and a quick ratio of 1.47.

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

Carlisle Companies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were issued a dividend of $1.10 per share. The ex-dividend date was Tuesday, August 19th. This is a positive change 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 dividend payout ratio is currently 24.58%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Loop Capital cut shares of Carlisle Companies from a "buy" rating to a "hold" rating and lowered their price target for the stock from $430.00 to $395.00 in a report on Thursday, July 31st. Truist Financial decreased their price target on shares of Carlisle Companies from $380.00 to $350.00 and set a "hold" rating on the stock in a report on Monday. Finally, JPMorgan Chase & Co. cut their target price 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, September 17th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.