Carlisle Companies (NYSE:CSL) Hits New 1-Year High After Better-Than-Expected Earnings

Carlisle Companies Incorporated (NYSE:CSL)’s stock price reached a new 52-week high during mid-day trading on Friday following a better than expected earnings announcement. 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.74 by $0.98. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $993.06 million. Carlisle Companies had a return on equity of 28.31% and a net margin of 15.07%.

Carlisle Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 0.84%. The ex-dividend date was Thursday, February 15th. Carlisle Companies’s payout ratio is 22.31%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Oppenheimer lifted their price target on Carlisle Companies from $405.00 to $412.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. Robert W. Baird lifted their price target on Carlisle Companies from $435.00 to $465.00 and gave the stock an “outperform” rating in a report on Friday. Loop Capital lifted their price target on Carlisle Companies from $375.00 to $440.00 and gave the stock a “buy” rating in a report on Monday, April 1st. The Goldman Sachs Group started coverage on shares of Carlisle Companies in a research report on Wednesday, April 3rd. They set a “buy” rating and a $455.00 price objective for the company. Finally, StockNews.com raised Carlisle Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, February 7th. 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 company. According to MarketBeat, Carlisle Companies currently has an average rating of “Moderate Buy” and an average target price of $395.33.

Insider Activity at Carlisle Companies

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

Institutional Trading of Carlisle Companies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Morgan Stanley increased its holdings in Carlisle Companies by 3.6% in the third quarter. Morgan Stanley now owns 2,578,221 shares of the conglomerate’s stock valued at $668,430,000 after purchasing an additional 90,597 shares during the period. FMR LLC grew its holdings in Carlisle Companies by 1.5% during the 3rd quarter. FMR LLC now owns 829,655 shares of the conglomerate’s stock worth $215,096,000 after acquiring an additional 12,552 shares during the period. Norges Bank acquired a new stake in Carlisle Companies during the 4th quarter worth about $159,187,000. Pacer Advisors Inc. grew its holdings in 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. Finally, Madison Asset Management LLC grew its holdings in Carlisle Companies by 2.9% during the 4th quarter. Madison Asset Management LLC now owns 401,528 shares of the conglomerate’s stock worth $125,449,000 after acquiring an additional 11,464 shares during the period. 89.52% of the stock is currently owned by institutional investors and hedge funds.

Carlisle Companies Stock Performance

The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.57 and a current ratio of 2.87. The stock has a fifty day simple moving average of $370.69 and a two-hundred day simple moving average of $319.17. The stock has a market capitalization of $19.27 billion, a price-to-earnings ratio of 25.06, a P/E/G ratio of 1.34 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.