Carlisle Companies (NYSE:CSL) Trading Down 6.4% – Here’s What Happened

Carlisle Companies Incorporated (NYSE:CSL)’s share price fell 6.4% on Monday . The company traded as low as $359.46 and last traded at $363.5980. Approximately 335,105 shares were traded during mid-day trading, a decline of 21% from the average session volume of 425,662 shares. The stock had previously closed at $388.38.

Wall Street Analysts Forecast Growth

CSL has been the subject of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Carlisle Companies in a research note on Wednesday. Zacks Research raised Carlisle Companies from a “strong sell” rating to a “hold” rating in a research note on Monday, March 16th. Truist Financial boosted their target price on Carlisle Companies from $340.00 to $360.00 and gave the stock a “hold” rating in a report on Friday, April 24th. William Blair reissued a “market perform” rating on shares of Carlisle Companies in a research report on Wednesday, March 18th. Finally, Robert W. Baird raised their price target on shares of Carlisle Companies from $402.00 to $425.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Carlisle Companies presently has an average rating of “Hold” and a consensus price target of $405.00.

Carlisle Companies Trading Down 3.1%

The stock has a market capitalization of $15.23 billion, a price-to-earnings ratio of 22.13, a P/E/G ratio of 1.22 and a beta of 0.86. The company has a debt-to-equity ratio of 1.74, a quick ratio of 2.58 and a current ratio of 3.38. The firm has a fifty day moving average of $350.72 and a 200-day moving average of $353.52.

Carlisle Companies (NYSE:CSL) last issued its quarterly earnings data on Thursday, April 23rd. The conglomerate reported $3.63 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $0.32. Carlisle Companies had a return on equity of 43.78% and a net margin of 14.57%.The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the previous year, the firm posted $3.61 earnings per share. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. As a group, equities analysts predict that Carlisle Companies Incorporated will post 21.16 earnings per share for the current fiscal year.

Carlisle Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were given a $1.10 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $4.40 annualized dividend and a yield of 1.2%. Carlisle Companies’s dividend payout ratio (DPR) is 25.87%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CSL. BOK Financial Private Wealth Inc. acquired a new stake in Carlisle Companies during the 4th quarter valued at $27,000. Osterweis Capital Management Inc. acquired a new position in Carlisle Companies in the 2nd quarter worth $36,000. Signature Equity Partners LLC lifted its holdings in Carlisle Companies by 3,133.3% in the 1st quarter. Signature Equity Partners LLC now owns 97 shares of the conglomerate’s stock worth $32,000 after buying an additional 94 shares in the last quarter. Torren Management LLC acquired a new position in Carlisle Companies in the 4th quarter worth $33,000. Finally, Quarry LP purchased a new position in Carlisle Companies in the 4th quarter valued at about $36,000. 89.52% of the stock is owned by institutional investors and hedge funds.

Carlisle Companies Company 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.