Carlisle Companies (NYSE:CSL) Shares Down 6.4% – Here’s Why

Carlisle Companies Incorporated (NYSE:CSL)’s share price traded down 6.4% on Monday . The stock traded as low as $359.46 and last traded at $363.5980. 335,105 shares traded hands during mid-day trading, a decline of 21% from the average daily volume of 425,662 shares. The stock had previously closed at $388.38.

Wall Street Analysts Forecast Growth

CSL has been the topic of several recent research reports. Zacks Research raised Carlisle Companies from a “strong sell” rating to a “hold” rating in a report on Monday, March 16th. JPMorgan Chase & Co. increased their price target on Carlisle Companies from $400.00 to $420.00 and gave the company an “overweight” rating in a research note on Monday, March 9th. Oppenheimer raised their price objective on Carlisle Companies from $420.00 to $425.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Robert W. Baird increased their price objective on shares of Carlisle Companies from $402.00 to $425.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Finally, Raymond James Financial assumed coverage on shares of Carlisle Companies in a research note on Monday, April 27th. They set an “outperform” rating and a $425.00 target price for the company. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $405.00.

Carlisle Companies Price Performance

The company has a debt-to-equity ratio of 1.74, a current ratio of 3.38 and a quick ratio of 2.58. The firm has a market capitalization of $14.33 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 1.19 and a beta of 0.86. The business’s fifty day simple moving average is $351.37 and its 200 day simple moving average is $354.15.

Carlisle Companies (NYSE:CSL) last issued its earnings results on Thursday, April 23rd. The conglomerate reported $3.63 EPS for the quarter, beating the consensus estimate of $3.31 by $0.32. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.45 billion. Carlisle Companies had a return on equity of 43.78% and a net margin of 14.57%.The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period last year, the business posted $3.61 EPS. On average, research analysts forecast that Carlisle Companies Incorporated will post 21.16 EPS for the current year.

Carlisle Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were issued a dividend of $1.10 per share. The ex-dividend date was Monday, May 18th. This represents a $4.40 annualized dividend and a dividend yield of 1.2%. Carlisle Companies’s payout ratio is currently 25.87%.

Hedge Funds Weigh In On Carlisle Companies

A number of large investors have recently modified their holdings of CSL. BOK Financial Private Wealth Inc. acquired a new position in Carlisle Companies during the fourth quarter worth $27,000. Osterweis Capital Management Inc. bought a new stake in shares of Carlisle Companies during the second quarter worth about $36,000. Signature Equity Partners LLC raised its holdings in shares of Carlisle Companies by 3,133.3% in the 1st quarter. Signature Equity Partners LLC now owns 97 shares of the conglomerate’s stock worth $32,000 after acquiring an additional 94 shares during the last quarter. Torren Management LLC acquired a new stake in shares of Carlisle Companies in the 4th quarter worth about $33,000. Finally, Quarry LP bought a new position in Carlisle Companies in the 4th quarter valued at about $36,000. 89.52% of the stock is currently owned by institutional investors.

About Carlisle Companies

Carlisle Companies Inc is a diversified global manufacturer serving a broad array of markets with engineered products, systems and solutions. The company’s operations span several core business segments, including construction materials, fluid technologies, interconnect technologies, brake and friction systems, and engineered products. Carlisle is known for its expertise in developing high-performance building envelope solutions, precision-engineered hoses and fluid-handling components, lightweight interconnect systems for aerospace and defense, and heavy-duty brake and friction products.

Within its construction materials segment, Carlisle offers single-ply roofing membranes, polyiso insulation, and waterproofing systems designed for commercial and industrial buildings.