River Road Asset Management LLC reduced its stake in shares of Carlisle Companies Incorporated (NYSE:CSL) by 9.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 44,663 shares of the conglomerate’s stock after selling 4,487 shares during the quarter. River Road Asset Management LLC’s holdings in Carlisle Companies were worth $8,548,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Eagle Bay Advisors LLC acquired a new position in Carlisle Companies in the second quarter valued at approximately $46,000. Van ECK Associates Corp acquired a new position in Carlisle Companies in the first quarter valued at approximately $46,000. Mark Sheptoff Financial Planning LLC acquired a new position in Carlisle Companies in the first quarter valued at approximately $49,000. Fifth Third Bancorp lifted its holdings in Carlisle Companies by 54.9% in the first quarter. Fifth Third Bancorp now owns 316 shares of the conglomerate’s stock valued at $52,000 after buying an additional 112 shares during the period. Finally, Godsey & Gibb Associates acquired a new position in Carlisle Companies in the second quarter valued at approximately $78,000. Institutional investors and hedge funds own 88.93% of the company’s stock.
In other news, VP Kevin P. Zdimal sold 15,544 shares of the firm’s stock in a transaction dated Tuesday, July 27th. The shares were sold at an average price of $199.37, for a total transaction of $3,099,007.28. Following the completion of the sale, the vice president now owns 40,106 shares in the company, valued at approximately $7,995,933.22. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Robert M. Roche sold 10,480 shares of the firm’s stock in a transaction dated Wednesday, August 25th. The stock was sold at an average price of $210.95, for a total transaction of $2,210,756.00. Following the sale, the chief financial officer now owns 33,783 shares of the company’s stock, valued at approximately $7,126,523.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 161,815 shares of company stock valued at $33,098,099. 1.68% of the stock is owned by insiders.
Carlisle Companies (NYSE:CSL) last released its earnings results on Thursday, July 22nd. The conglomerate reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $2.09 by $0.07. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. Carlisle Companies had a net margin of 7.60% and a return on equity of 15.42%. The firm’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.95 earnings per share. On average, research analysts forecast that Carlisle Companies Incorporated will post 9.13 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Wednesday, August 18th were given a $0.54 dividend. The ex-dividend date of this dividend was Tuesday, August 17th. This represents a $2.16 dividend on an annualized basis and a yield of 1.10%. This is an increase from Carlisle Companies’s previous quarterly dividend of $0.53. Carlisle Companies’s dividend payout ratio (DPR) is 34.18%.
CSL has been the topic of several analyst reports. Northcoast Research upgraded shares of Carlisle Companies from a “neutral” rating to a “buy” rating and set a $230.00 target price on the stock in a report on Wednesday, June 30th. Zacks Investment Research upgraded shares of Carlisle Companies from a “hold” rating to a “buy” rating and set a $209.00 target price on the stock in a report on Tuesday, July 27th. Robert W. Baird increased their target price on shares of Carlisle Companies from $216.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, July 23rd. Loop Capital increased their target price on shares of Carlisle Companies from $215.00 to $245.00 and gave the stock a “buy” rating in a report on Wednesday, August 18th. Finally, Oppenheimer increased their target price on shares of Carlisle Companies from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday, August 30th. They noted that the move was a valuation call. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Carlisle Companies has an average rating of “Buy” and an average price target of $213.00.
Carlisle Companies Company Profile
Carlisle Cos., Inc engages in the manufacture and distribution of engineered products for both original equipment and aftermarket channels. It operates through the following segments: Carlisle Construction Materials, Carlisle Interconnect Technologies, Carlisle Fluid Technologies, and Carlisle Brake & Friction.
Recommended Story: What is a dead cat bounce?
Want to see what other hedge funds are holding CSL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carlisle Companies Incorporated (NYSE:CSL).
Receive News & Ratings for Carlisle Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carlisle Companies and related companies with MarketBeat.com's FREE daily email newsletter.