Comerica Bank lowered its holdings in Carlisle Companies, Inc. (NYSE:CSL) by 5.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,277 shares of the conglomerate’s stock after selling 2,212 shares during the period. Comerica Bank’s holdings in Carlisle Companies were worth $4,679,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Carlisle Companies by 2.5% during the 4th quarter. BlackRock Inc. now owns 5,199,432 shares of the conglomerate’s stock valued at $522,647,000 after buying an additional 125,249 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Carlisle Companies by 0.3% during the 1st quarter. Janus Henderson Group PLC now owns 4,337,688 shares of the conglomerate’s stock valued at $531,887,000 after buying an additional 14,736 shares in the last quarter. Atlanta Capital Management Co. L L C raised its holdings in shares of Carlisle Companies by 11.3% during the 4th quarter. Atlanta Capital Management Co. L L C now owns 3,229,436 shares of the conglomerate’s stock valued at $324,623,000 after buying an additional 327,768 shares in the last quarter. Harris Associates L P raised its holdings in shares of Carlisle Companies by 60.3% during the 4th quarter. Harris Associates L P now owns 1,244,010 shares of the conglomerate’s stock valued at $125,048,000 after buying an additional 468,140 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Carlisle Companies by 4.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 962,410 shares of the conglomerate’s stock valued at $96,735,000 after buying an additional 37,916 shares in the last quarter. 89.54% of the stock is currently owned by hedge funds and other institutional investors.
CSL opened at $136.36 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.15 and a current ratio of 2.96. Carlisle Companies, Inc. has a 1 year low of $92.16 and a 1 year high of $142.00. The company has a market cap of $7.68 billion, a P/E ratio of 21.92, a P/E/G ratio of 1.15 and a beta of 1.07.
Carlisle Companies declared that its board has initiated a stock repurchase program on Tuesday, February 5th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the conglomerate to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 15th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.60 annualized dividend and a yield of 1.17%. Carlisle Companies’s payout ratio is 25.72%.
In related news, insider John E. Berlin sold 15,150 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $124.24, for a total transaction of $1,882,236.00. Following the transaction, the insider now directly owns 47,221 shares in the company, valued at approximately $5,866,737.04. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.70% of the stock is owned by company insiders.
A number of brokerages recently weighed in on CSL. Zacks Investment Research raised Carlisle Companies from a “hold” rating to a “buy” rating and set a $154.00 price objective on the stock in a report on Monday, April 29th. Robert W. Baird raised their price objective on Carlisle Companies from $135.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Oppenheimer raised their price objective on Carlisle Companies from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, April 5th. BMO Capital Markets raised their price objective on Carlisle Companies from $125.00 to $135.00 and gave the company a “market perform” rating in a report on Wednesday, April 24th. Finally, SunTrust Banks reissued a “buy” rating and set a $138.00 price objective on shares of Carlisle Companies in a report on Sunday, February 10th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $139.86.
About Carlisle Companies
Carlisle Companies Incorporated operates as a diversified manufacturing company. It operates through four segments: Carlisle Construction Materials, Carlisle Interconnect Technologies, Carlisle Fluid Technologies, and Carlisle Brake & Friction. The Carlisle Construction Materials segment offers thermoplastic polyolefin, ethylene propylene diene monomer rubber, and polyvinyl chloride roofing membranes that are used on non-residential low-sloped roofs; roofing accessories, such as flashings, fasteners, sealing tapes, coatings, and waterproofing products; rigid foam insulation panels for roofing applications; and specialty polyurethane products and solutions for various markets and applications.
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