Wellington Management Group LLP Purchases 10,365 Shares of Carlisle Companies Incorporated $CSL

Key Points

• Wellington Management increased its Carlisle Companies stake by 23.1% in the second quarter, purchasing 10,365 shares and bringing its holdings to 55,300 shares worth approximately $20.1 million. Institutional investors collectively own 89.52% of CSL.
• Analysts maintain a generally cautious outlook, with a consensus “Hold” rating and an average price target of $402.43, compared with the stock’s reported opening price of $352.98.
• Carlisle exceeded quarterly expectations, reporting $7.03 in EPS and $1.57 billion in revenue, while revenue rose 8.3% year over year. The company also raised its quarterly dividend to $1.25, equivalent to a $5.00 annualized payout and a 1.4% yield.

Wellington Management Group LLP raised its position in shares of Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 23.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,300 shares of the conglomerate's stock after purchasing an additional 10,365 shares during the period. Wellington Management Group LLP owned approximately 0.14% of Carlisle Companies worth $20,060,000 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. BOK Financial Private Wealth Inc. bought a new position in shares of Carlisle Companies in the 4th quarter valued at $27,000. Jones Financial Companies Lllp acquired a new position in shares of Carlisle Companies during the 2nd quarter worth $33,000. Osterweis Capital Management Inc. bought a new stake in shares of Carlisle Companies during the 2nd quarter worth $35,000. Signature Equity Partners LLC boosted its stake in Carlisle Companies by 3,133.3% in the first quarter. Signature Equity Partners LLC now owns 97 shares of the conglomerate's stock valued at $32,000 after buying an additional 94 shares in the last quarter. Finally, Allied Private Wealth LLC acquired a new stake in Carlisle Companies in the second quarter valued at about $33,000. 89.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CSL. Robert W. Baird set a $412.00 target price on Carlisle Companies in a research note on Thursday, July 30th. Truist Financial reduced their price target on shares of Carlisle Companies from $360.00 to $340.00 and set a "hold" rating on the stock in a research note on Tuesday, July 7th. Weiss Ratings raised shares of Carlisle Companies from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, August 26th. Finally, DA Davidson began coverage on shares of Carlisle Companies in a research report on Monday, August 24th. They set a "neutral" rating and a $410.00 price objective for the company. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $402.43.

Carlisle Companies Stock Up 0.2%

Shares of NYSE CSL opened at $352.98 on Monday. The company has a 50 day simple moving average of $356.31 and a 200 day simple moving average of $354.95. The company has a debt-to-equity ratio of 1.78, a current ratio of 2.60 and a quick ratio of 2.04. Carlisle Companies Incorporated has a 1 year low of $293.43 and a 1 year high of $432.91. The firm has a market cap of $14.02 billion, a PE ratio of 20.25, a price-to-earnings-growth ratio of 1.10 and a beta of 0.84.

Carlisle Companies (NYSE:CSL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The conglomerate reported $7.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.35 by $0.68. The firm had revenue of $1.57 billion during the quarter, compared to analysts' expectations of $1.48 billion. Carlisle Companies had a net margin of 14.21% and a return on equity of 47.58%. The company's revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the company posted $6.27 EPS. On average, research analysts forecast that Carlisle Companies Incorporated will post 21.27 EPS for the current year.

Carlisle Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Wednesday, August 19th were issued a $1.25 dividend. The ex-dividend date was Wednesday, August 19th. This is a positive change from Carlisle Companies's previous quarterly dividend of $1.10. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. Carlisle Companies's dividend payout ratio (DPR) is currently 28.69%.

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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