Carlisle Companies (NYSE:CSL) Hits New 1-Year High After Better-Than-Expected Earnings

Carlisle Companies Incorporated (NYSE:CSL) shares hit a new 52-week high during mid-day trading on Friday following a better than expected earnings announcement. The stock traded as high as $415.00 and last traded at $403.31, with a volume of 143432 shares traded. The stock had previously closed at $382.03.

The conglomerate reported $3.72 EPS for the quarter, beating the consensus estimate of $2.74 by $0.98. Carlisle Companies had a return on equity of 28.31% and a net margin of 15.07%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $993.06 million.

Carlisle Companies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend was Thursday, February 15th. Carlisle Companies’s payout ratio is 22.31%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Robert W. Baird boosted their target price on Carlisle Companies from $435.00 to $465.00 and gave the stock an “outperform” rating in a research report on Friday. Loop Capital upped their price target on Carlisle Companies from $375.00 to $440.00 and gave the stock a “buy” rating in a report on Monday, April 1st. StockNews.com upgraded Carlisle Companies from a “hold” rating to a “buy” rating in a report on Wednesday, February 7th. The Goldman Sachs Group assumed coverage on Carlisle Companies in a report on Wednesday, April 3rd. They issued a “buy” rating and a $455.00 price target on the stock. Finally, Oppenheimer upped their price target on Carlisle Companies from $405.00 to $412.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Carlisle Companies currently has a consensus rating of “Moderate Buy” and an average target price of $395.33.

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 transaction of $2,242,958.62. Following the transaction, the chief executive officer now directly owns 86,652 shares in the company, valued at approximately $30,114,169.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Carlisle Companies news, VP David W. Smith sold 700 shares of Carlisle Companies stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $338.54, for a total transaction of $236,978.00. Following the completion of the sale, the vice president now owns 2,834 shares of the company’s stock, valued at approximately $959,422.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO D Christian Koch sold 6,454 shares of Carlisle Companies stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $347.53, for a total transaction of $2,242,958.62. Following the sale, 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.

Institutional Investors Weigh In On Carlisle Companies

Institutional investors and hedge funds have recently modified their holdings of the business. Allworth Financial LP lifted its stake in shares of Carlisle Companies by 88.9% in the 4th quarter. Allworth Financial LP now owns 85 shares of the conglomerate’s stock valued at $27,000 after purchasing an additional 40 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in Carlisle Companies during the 4th quarter worth $31,000. Principal Securities Inc. acquired a new position in Carlisle Companies during the 4th quarter worth $32,000. Sound Income Strategies LLC lifted its position in Carlisle Companies by 564.7% during the 1st quarter. Sound Income Strategies LLC now owns 113 shares of the conglomerate’s stock worth $44,000 after acquiring an additional 96 shares during the last quarter. Finally, Rise Advisors LLC acquired a new position in Carlisle Companies during the 1st quarter worth $48,000. Institutional investors and hedge funds own 89.52% of the company’s stock.

Carlisle Companies Stock Performance

The stock has a market cap of $19.27 billion, a price-to-earnings ratio of 25.06, a price-to-earnings-growth ratio of 1.34 and a beta of 0.93. 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 stock’s 50-day simple moving average is $370.69 and its two-hundred day simple moving average is $319.17.

About Carlisle Companies

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.