Carlisle Companies (NYSE:CSL) Announces Earnings Results

Carlisle Companies (NYSE:CSL) issued its quarterly earnings results on Thursday. The conglomerate reported $3.72 earnings per share for the quarter, topping the consensus estimate of $2.74 by $0.98, reports. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $993.06 million. Carlisle Companies had a net margin of 17.13% and a return on equity of 30.23%. Carlisle Companies updated its FY 2024 guidance to EPS.

Carlisle Companies Stock Performance

Shares of NYSE CSL traded up $18.53 during mid-day trading on Friday, reaching $400.56. 681,997 shares of the company were exchanged, compared to its average volume of 251,156. The stock has a market capitalization of $19.15 billion, a P/E ratio of 23.22, a P/E/G ratio of 1.43 and a beta of 0.93. The company has a quick ratio of 2.57, a current ratio of 2.87 and a debt-to-equity ratio of 0.67. The company’s 50-day simple moving average is $371.87 and its 200-day simple moving average is $320.52. Carlisle Companies has a twelve month low of $205.10 and a twelve month high of $415.00.

Carlisle Companies Dividend Announcement

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 dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $3.40 dividend on an annualized basis and a yield of 0.85%. Carlisle Companies’s dividend payout ratio (DPR) is 19.71%.

Insider Activity at Carlisle Companies

In other Carlisle Companies news, VP David W. Smith sold 700 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $338.54, for a total transaction of $236,978.00. Following the completion of the sale, the vice president now directly owns 2,834 shares in the company, valued at $959,422.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Carlisle Companies news, VP David W. Smith sold 700 shares of the company’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 directly owns 2,834 shares of the company’s stock, valued at approximately $959,422.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO D Christian Koch sold 6,454 shares of Carlisle Companies stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $347.53, for a total value of $2,242,958.62. Following the sale, the chief executive officer now directly owns 86,652 shares of the company’s stock, valued at approximately $30,114,169.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,255 shares of company stock worth $5,231,360. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CSL. AE Wealth Management LLC grew its position in Carlisle Companies by 133.8% during the third quarter. AE Wealth Management LLC now owns 4,096 shares of the conglomerate’s stock worth $1,062,000 after buying an additional 2,344 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Carlisle Companies by 14.9% during the 3rd quarter. SG Americas Securities LLC now owns 6,612 shares of the conglomerate’s stock worth $1,714,000 after purchasing an additional 856 shares in the last quarter. DAVENPORT & Co LLC increased its position in shares of Carlisle Companies by 1.8% in the third quarter. DAVENPORT & Co LLC now owns 5,804 shares of the conglomerate’s stock worth $1,505,000 after purchasing an additional 100 shares during the period. Avior Wealth Management LLC acquired a new position in Carlisle Companies in the third quarter valued at about $261,000. Finally, Meridian Wealth Management LLC lifted its position in Carlisle Companies by 100.1% during the third quarter. Meridian Wealth Management LLC now owns 2,950 shares of the conglomerate’s stock worth $765,000 after purchasing an additional 1,476 shares during the period. Institutional investors and hedge funds own 89.52% of the company’s stock.

Analyst Ratings Changes

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

Carlisle Companies Company 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.