Carlisle Companies (NYSE:CSL) Hits New 52-Week High – Time to Buy?

by · The Markets Daily

Shares of Carlisle Companies Incorporated (NYSE:CSL – Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $471.90 and last traded at $471.75, with a volume of 4686 shares changing hands. The stock had previously closed at $470.25.

Analysts Set New Price Targets

Several research analysts recently commented on CSL shares. StockNews.com lowered shares of Carlisle Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Oppenheimer reaffirmed an “outperform” rating and set a $480.00 price target (up from $475.00) on shares of Carlisle Companies in a research report on Wednesday, September 4th. Finally, Robert W. Baird raised their price objective on Carlisle Companies from $500.00 to $506.00 and gave the stock an “outperform” rating in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $470.25.

View Our Latest Report on CSL

Carlisle Companies Stock Down 1.9 %

The company has a quick ratio of 2.50, a current ratio of 2.89 and a debt-to-equity ratio of 0.63. The company’s 50 day moving average price is $423.90 and its 200 day moving average price is $412.76. The firm has a market capitalization of $22.45 billion, a price-to-earnings ratio of 27.34, a P/E/G ratio of 1.52 and a beta of 0.91.

Carlisle Companies (NYSE:CSL – Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The conglomerate reported $6.24 earnings per share for the quarter, beating the consensus estimate of $5.84 by $0.40. Carlisle Companies had a return on equity of 31.65% and a net margin of 27.88%. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the previous year, the business earned $5.18 EPS. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, research analysts forecast that Carlisle Companies Incorporated will post 20.57 earnings per share for the current fiscal year.

Carlisle Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 0.85%. This is a boost from Carlisle Companies’s previous quarterly dividend of $0.85. The ex-dividend date was Tuesday, August 20th. Carlisle Companies’s payout ratio is presently 23.19%.

Insider Activity

In related news, CFO Kevin P. Zdimal sold 21,470 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $425.29, for a total transaction of $9,130,976.30. Following the completion of the transaction, the chief financial officer now owns 35,641 shares of the company’s stock, valued at $15,157,760.89. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Kevin P. Zdimal sold 21,470 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $425.29, for a total value of $9,130,976.30. Following the sale, the chief financial officer now owns 35,641 shares in the company, valued at $15,157,760.89. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David W. Smith sold 600 shares of Carlisle Companies stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $425.56, for a total value of $255,336.00. Following the transaction, the vice president now owns 2,834 shares of the company’s stock, valued at approximately $1,206,037.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Carlisle Companies

Hedge funds have recently modified their holdings of the company. Truist Financial Corp raised its stake in shares of Carlisle Companies by 0.8% during the 2nd quarter. Truist Financial Corp now owns 334,241 shares of the conglomerate’s stock worth $135,438,000 after buying an additional 2,545 shares during the period. TD Asset Management Inc boosted its stake in shares of Carlisle Companies by 2,073.5% in the second quarter. TD Asset Management Inc now owns 281,643 shares of the conglomerate’s stock worth $114,125,000 after acquiring an additional 268,685 shares during the last quarter. Public Employees Retirement Association of Colorado raised its stake in Carlisle Companies by 2.9% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 234,166 shares of the conglomerate’s stock valued at $94,886,000 after purchasing an additional 6,613 shares during the last quarter. Zurich Insurance Group Ltd FI lifted its holdings in Carlisle Companies by 1.9% in the 2nd quarter. Zurich Insurance Group Ltd FI now owns 191,738 shares of the conglomerate’s stock valued at $77,694,000 after purchasing an additional 3,504 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Carlisle Companies by 2.3% in the first quarter. Principal Financial Group Inc. now owns 186,370 shares of the conglomerate’s stock valued at $73,029,000 after buying an additional 4,168 shares during the last quarter. 89.52% of the stock is owned by hedge funds and other institutional investors.

Carlisle Companies Company Profile

(Get Free Report)

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.

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