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

Shares of Carlisle Companies Incorporated (NYSE:CSL) dropped 6.4% during mid-day trading on Monday . The company traded as low as $359.46 and last traded at $363.5980. Approximately 335,105 shares changed hands 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 Analyst Weigh In

Several equities analysts have weighed in on CSL shares. Weiss Ratings reissued a “hold (c)” rating on shares of Carlisle Companies in a research report on Wednesday. Oppenheimer upped their price objective on Carlisle Companies from $420.00 to $425.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Zacks Research upgraded Carlisle Companies from a “strong sell” rating to a “hold” rating in a research report on Monday, March 16th. Robert W. Baird boosted their target price on shares of Carlisle Companies from $402.00 to $425.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Finally, Raymond James Financial initiated coverage on shares of Carlisle Companies in a report on Monday, April 27th. They issued an “outperform” rating and a $425.00 target price on the stock. Five investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Carlisle Companies has an average rating of “Hold” and a consensus price target of $405.00.

Carlisle Companies Price Performance

The company has a fifty day simple moving average of $350.72 and a two-hundred day simple moving average of $353.52. 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 company 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.

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

Carlisle Companies Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC grew its holdings in Carlisle Companies by 947.3% in the third quarter. Barclays PLC now owns 499,341 shares of the conglomerate’s stock valued at $164,263,000 after purchasing an additional 451,662 shares during the period. First Manhattan CO. LLC. purchased a new position in Carlisle Companies during the fourth quarter worth approximately $140,256,000. Sands Capital Management LLC boosted its holdings in shares of Carlisle Companies by 99.2% in the 3rd quarter. Sands Capital Management LLC now owns 849,501 shares of the conglomerate’s stock valued at $279,452,000 after purchasing an additional 423,141 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Carlisle Companies by 10,568.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 389,198 shares of the conglomerate’s stock valued at $124,489,000 after buying an additional 385,550 shares during the period. Finally, Generation Investment Management LLP purchased a new stake in shares of Carlisle Companies during the 4th quarter valued at $109,217,000. Institutional investors and hedge funds own 89.52% of the company’s stock.

About Carlisle Companies

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.