Carlisle Cos. Inc. (CSL) Lowered to “Neutral” at Longbow Research
Longbow Research cut shares of Carlisle Cos. Inc. (NYSE:CSL) from a buy rating to a neutral rating in a research report sent to investors on Tuesday morning. The analysts noted that the move was a valuation call.
Separately, Zacks Investment Research cut shares of Carlisle Cos. from a buy rating to a hold rating in a report on Friday, August 5th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $113.57.
Shares of Carlisle Cos. (NYSE:CSL) opened at 115.00 on Tuesday. The firm’s 50-day moving average price is $107.68 and its 200 day moving average price is $104.62. The company has a market capitalization of $7.42 billion, a PE ratio of 29.51 and a beta of 0.77. Carlisle Cos. has a 1-year low of $75.17 and a 1-year high of $116.02.
Carlisle Cos. (NYSE:CSL) last posted its earnings results on Tuesday, October 25th. The company reported $1.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.69 by $0.05. Carlisle Cos. had a net margin of 6.99% and a return on equity of 15.66%. The firm had revenue of $991 million for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the firm earned $1.56 EPS. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. Equities analysts predict that Carlisle Cos. will post $5.83 EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Thursday, November 17th will be paid a $0.35 dividend. The ex-dividend date is Tuesday, November 15th. This represents a $1.40 dividend on an annualized basis and a yield of 1.22%. Carlisle Cos.’s dividend payout ratio is 35.99%.
In related news, insider John W. Altmeyer sold 51,505 shares of Carlisle Cos. stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $111.24, for a total value of $5,729,416.20. Following the completion of the transaction, the insider now directly owns 210,565 shares in the company, valued at approximately $23,423,250.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.71% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Great West Life Assurance Co. Can raised its position in Carlisle Cos. by 2.0% in the third quarter. Great West Life Assurance Co. Can now owns 38,401 shares of the company’s stock worth $3,937,000 after buying an additional 738 shares in the last quarter. LS Investment Advisors LLC raised its position in Carlisle Cos. by 78.9% in the second quarter. LS Investment Advisors LLC now owns 4,129 shares of the company’s stock worth $436,000 after buying an additional 1,821 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in Carlisle Cos. by 6.6% in the second quarter. BNP Paribas Arbitrage SA now owns 25,449 shares of the company’s stock worth $2,689,000 after buying an additional 1,577 shares in the last quarter. Oakbrook Investments LLC raised its position in Carlisle Cos. by 13.4% in the second quarter. Oakbrook Investments LLC now owns 6,575 shares of the company’s stock worth $695,000 after buying an additional 775 shares in the last quarter. Finally, New York State Teachers Retirement System raised its position in Carlisle Cos. by 5.3% in the second quarter. New York State Teachers Retirement System now owns 122,164 shares of the company’s stock worth $12,910,000 after buying an additional 6,100 shares in the last quarter. Institutional investors and hedge funds own 87.56% of the company’s stock.
About Carlisle Cos.
Carlisle Companies Incorporated is a holding company for Carlisle Corporation and its wholly owned subsidiaries. The Company is a diversified manufacturing company. The Company operates through five segments: Carlisle Construction Materials (CCM), Carlisle Interconnect Technologies (CIT), Carlisle Fluid Technologies (CFT), Carlisle Brake & Friction (CBF) and Carlisle FoodService Products (CFSP).
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