Carlisle Companies (NYSE:CSL) Announces Quarterly Earnings Results

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

Carlisle Companies Trading Up 4.9 %

Carlisle Companies stock opened at $400.92 on Friday. 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 firm has a market cap of $19.16 billion, a price-to-earnings ratio of 23.24, a price-to-earnings-growth ratio of 1.36 and a beta of 0.93. Carlisle Companies has a 1 year low of $205.10 and a 1 year high of $415.00. The firm’s 50 day moving average price is $371.87 and its two-hundred day moving average price is $320.12.

Carlisle Companies Dividend Announcement

The firm also recently declared 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 was Thursday, February 15th. This represents a $3.40 annualized dividend and a yield of 0.85%. Carlisle Companies’s dividend payout ratio (DPR) is 19.71%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Loop Capital upped their target price on shares of Carlisle Companies from $375.00 to $440.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. 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. Oppenheimer increased their price objective on shares of Carlisle Companies from $412.00 to $430.00 and gave the company an “outperform” rating in a report on Friday. Robert W. Baird raised their price objective on shares of Carlisle Companies from $435.00 to $465.00 and gave the company an “outperform” rating in a research note on Friday. Finally, StockNews.com upgraded shares of Carlisle Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $398.33.

Insiders Place Their Bets

In other Carlisle Companies news, CEO D Christian Koch sold 6,454 shares of Carlisle Companies stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $347.53, for a total value of $2,242,958.62. Following the transaction, the chief executive officer now owns 86,652 shares in the company, valued at $30,114,169.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related 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 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 approximately $959,422.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO D Christian Koch sold 6,454 shares of the firm’s stock in a transaction that occurred 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 transaction, 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. Over the last 90 days, insiders have sold 15,255 shares of company stock worth $5,231,360. 1.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Carlisle Companies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CSL. AE Wealth Management LLC boosted its stake in Carlisle Companies by 133.8% in the 3rd quarter. AE Wealth Management LLC now owns 4,096 shares of the conglomerate’s stock worth $1,062,000 after purchasing an additional 2,344 shares during the period. SG Americas Securities LLC boosted its stake 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 valued at $1,714,000 after buying an additional 856 shares during the period. DAVENPORT & Co LLC boosted its stake in shares of Carlisle Companies by 1.8% during the 3rd quarter. DAVENPORT & Co LLC now owns 5,804 shares of the conglomerate’s stock valued at $1,505,000 after buying an additional 100 shares during the period. Avior Wealth Management LLC acquired a new stake in shares of Carlisle Companies during the 3rd quarter valued at $261,000. Finally, Meridian Wealth Management LLC boosted its stake in shares of Carlisle Companies by 100.1% during the 3rd quarter. Meridian Wealth Management LLC now owns 2,950 shares of the conglomerate’s stock valued at $765,000 after buying an additional 1,476 shares during the period. Institutional investors and hedge funds own 89.52% of the company’s stock.

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.