Carlisle Companies (NYSE:CSL) Hits New 12-Month High Following Earnings Beat

Shares of Carlisle Companies Incorporated (NYSE:CSL) reached a new 52-week high during trading on Friday following a stronger than expected earnings report. The company traded as high as $415.00 and last traded at $403.31, with a volume of 143432 shares traded. The stock had previously closed at $382.03.

The conglomerate reported $3.72 EPS for the quarter, topping the consensus estimate of $2.74 by $0.98. Carlisle Companies had a return on equity of 30.23% and a net margin of 17.13%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $993.06 million.

Carlisle Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were given a $0.85 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $3.40 annualized dividend and a yield of 0.85%. Carlisle Companies’s dividend payout ratio is presently 19.71%.

Wall Street Analysts Forecast Growth

Several research firms have commented on CSL. Loop Capital upped their price objective on Carlisle Companies from $375.00 to $440.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Robert W. Baird upped their price objective on Carlisle Companies from $435.00 to $465.00 and gave the stock an “outperform” rating in a research report on Friday. Oppenheimer upped their price objective on Carlisle Companies from $412.00 to $430.00 and gave the stock an “outperform” rating in a research report on Friday. StockNews.com upgraded Carlisle Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, February 7th. Finally, The Goldman Sachs Group assumed coverage on Carlisle Companies in a research report on Wednesday, April 3rd. They set a “buy” rating and a $455.00 target price on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Carlisle Companies has an average rating of “Moderate Buy” and a consensus target price of $398.33.

Insider Activity

In other news, VP David W. Smith sold 700 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $338.54, for a total transaction of $236,978.00. Following the transaction, the vice president now owns 2,834 shares in the company, valued at approximately $959,422.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Carlisle Companies news, VP David W. Smith sold 700 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $338.54, for a total value of $236,978.00. Following the transaction, the vice president now owns 2,834 shares in the company, valued at approximately $959,422.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lori A. Snyder sold 8,101 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $339.64, for a total value of $2,751,423.64. Following the completion of the transaction, the insider now owns 5,212 shares in the company, valued at approximately $1,770,203.68. The disclosure for this sale can be found here. Insiders have sold 15,255 shares of company stock worth $5,231,360 in the last quarter. Corporate insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CSL. Norges Bank purchased a new position in shares of Carlisle Companies during the 4th quarter worth $159,187,000. Pacer Advisors Inc. raised its holdings in shares of Carlisle Companies by 5,351.1% during the 4th quarter. Pacer Advisors Inc. now owns 421,422 shares of the conglomerate’s stock worth $131,665,000 after acquiring an additional 413,691 shares during the period. Public Employees Retirement Association of Colorado raised its holdings in shares of Carlisle Companies by 666.0% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 227,949 shares of the conglomerate’s stock worth $71,218,000 after acquiring an additional 198,191 shares during the period. Wellington Management Group LLP raised its holdings in shares of Carlisle Companies by 1,074.0% during the 4th quarter. Wellington Management Group LLP now owns 152,001 shares of the conglomerate’s stock worth $47,490,000 after acquiring an additional 139,054 shares during the period. Finally, Morgan Stanley raised its holdings in shares of Carlisle Companies by 3.6% during the 3rd quarter. Morgan Stanley now owns 2,578,221 shares of the conglomerate’s stock worth $668,430,000 after acquiring an additional 90,597 shares during the period. Hedge funds and other institutional investors own 89.52% of the company’s stock.

Carlisle Companies Stock Performance

The company has a current ratio of 2.87, a quick ratio of 2.57 and a debt-to-equity ratio of 0.67. The firm has a fifty day moving average price of $371.87 and a 200 day moving average price of $320.52. The firm has a market cap of $19.15 billion, a PE ratio of 23.22, a price-to-earnings-growth ratio of 1.36 and a beta of 0.93.

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.