Platinum Investment Management Ltd. grew its holdings in Carlisle Companies Incorporated (NYSE:CSL – Free Report) by 15.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 284,263 shares of the conglomerate’s stock after buying an additional 37,708 shares during the quarter. Carlisle Companies comprises about 2.5% of Platinum Investment Management Ltd.’s investment portfolio, making the stock its 9th largest holding. Platinum Investment Management Ltd.’s holdings in Carlisle Companies were worth $72,922,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Citigroup Inc. grew its stake in shares of Carlisle Companies by 48.1% during the first quarter. Citigroup Inc. now owns 20,327 shares of the conglomerate’s stock worth $4,998,000 after purchasing an additional 6,603 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in shares of Carlisle Companies by 0.6% during the first quarter. Great West Life Assurance Co. Can now owns 29,831 shares of the conglomerate’s stock worth $7,549,000 after purchasing an additional 176 shares in the last quarter. Raymond James Trust N.A. grew its stake in shares of Carlisle Companies by 3.5% during the first quarter. Raymond James Trust N.A. now owns 2,160 shares of the conglomerate’s stock worth $531,000 after purchasing an additional 73 shares in the last quarter. Synovus Financial Corp grew its stake in shares of Carlisle Companies by 7.9% during the first quarter. Synovus Financial Corp now owns 4,958 shares of the conglomerate’s stock worth $1,206,000 after purchasing an additional 363 shares in the last quarter. Finally, Sei Investments Co. grew its stake in shares of Carlisle Companies by 23.6% during the first quarter. Sei Investments Co. now owns 53,110 shares of the conglomerate’s stock worth $13,028,000 after purchasing an additional 10,150 shares in the last quarter. Institutional investors and hedge funds own 90.70% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the stock. Zelman & Associates downgraded shares of Carlisle Companies from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Jefferies Financial Group cut shares of Carlisle Companies from a “buy” rating to a “hold” rating and reduced their price target for the company from $325.00 to $290.00 in a research report on Tuesday, September 26th. Robert W. Baird upped their target price on shares of Carlisle Companies from $310.00 to $320.00 in a report on Thursday, July 27th. Oppenheimer reaffirmed an “outperform” rating and issued a $325.00 target price on shares of Carlisle Companies in a report on Monday, September 25th. Finally, StockNews.com started coverage on shares of Carlisle Companies in a report on Thursday, October 5th. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $307.14.
Carlisle Companies Stock Performance
NYSE CSL traded down $1.73 during trading hours on Tuesday, hitting $272.63. 38,687 shares of the stock were exchanged, compared to its average volume of 384,220. The company has a market cap of $13.27 billion, a price-to-earnings ratio of 18.94, a price-to-earnings-growth ratio of 1.27 and a beta of 0.88. Carlisle Companies Incorporated has a 12-month low of $203.65 and a 12-month high of $289.12. The stock has a 50-day moving average of $261.06 and a 200 day moving average of $253.75. The company has a quick ratio of 3.73, a current ratio of 4.18 and a debt-to-equity ratio of 0.78.
Carlisle Companies (NYSE:CSL – Get Free Report) last issued its earnings results on Thursday, October 26th. The conglomerate reported $4.68 earnings per share for the quarter, topping the consensus estimate of $4.57 by $0.11. Carlisle Companies had a net margin of 13.58% and a return on equity of 27.87%. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period in the prior year, the business posted $5.66 earnings per share. The firm’s revenue for the quarter was down 15.8% compared to the same quarter last year. As a group, equities research analysts forecast that Carlisle Companies Incorporated will post 14.77 earnings per share for the current year.
Carlisle Companies Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $3.40 annualized dividend and a yield of 1.25%. Carlisle Companies’s payout ratio is currently 23.66%.
Carlisle Companies Profile
Carlisle Companies Incorporated operates as a manufacturer of engineered products in the United States, Europe, Asia, Mexico, the United Kingdom, and internationally. It operates through four segments: Carlisle Construction Materials, Carlisle Weatherproofing Technologies, Carlisle Interconnect Technologies, and Carlisle Fluid Technologies.
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