Commerce Bank Takes $1.06 Million Position in Carlisle Companies Incorporated $CSL

Commerce Bank bought a new stake in Carlisle Companies Incorporated (NYSE:CSL) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,930 shares of the conglomerate’s stock, valued at approximately $1,063,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Goldman Sachs Group Inc. increased its position in Carlisle Companies by 36.9% during the first quarter. Goldman Sachs Group Inc. now owns 105,468 shares of the conglomerate’s stock worth $35,912,000 after buying an additional 28,414 shares during the last quarter. Baird Financial Group Inc. lifted its position in shares of Carlisle Companies by 8.4% in the second quarter. Baird Financial Group Inc. now owns 2,549 shares of the conglomerate’s stock valued at $952,000 after buying an additional 197 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Carlisle Companies in the second quarter valued at approximately $1,345,000. Bank of Nova Scotia boosted its stake in shares of Carlisle Companies by 118.6% during the 2nd quarter. Bank of Nova Scotia now owns 1,646 shares of the conglomerate’s stock worth $615,000 after acquiring an additional 893 shares during the period. Finally, Sei Investments Co. boosted its stake in shares of Carlisle Companies by 40.0% during the 2nd quarter. Sei Investments Co. now owns 115,396 shares of the conglomerate’s stock worth $43,088,000 after acquiring an additional 32,996 shares during the period. Institutional investors own 89.52% of the company’s stock.

Carlisle Companies Stock Performance

CSL opened at $366.08 on Thursday. The firm has a market cap of $14.54 billion, a P/E ratio of 21.00, a price-to-earnings-growth ratio of 1.14 and a beta of 0.85. Carlisle Companies Incorporated has a 52-week low of $293.43 and a 52-week high of $432.91. The company has a debt-to-equity ratio of 1.78, a quick ratio of 2.04 and a current ratio of 2.60. The business’s fifty day moving average is $359.35 and its 200-day moving average is $358.01.

Carlisle Companies (NYSE:CSL) last posted its quarterly earnings results on Wednesday, July 29th. The conglomerate reported $7.03 EPS for the quarter, beating analysts’ consensus estimates of $6.35 by $0.68. Carlisle Companies had a return on equity of 47.58% and a net margin of 14.21%.The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the firm earned $6.27 earnings per share. Carlisle Companies’s revenue for the quarter was up 8.3% compared to the same quarter last year. Sell-side analysts expect that Carlisle Companies Incorporated will post 21.29 EPS for the current fiscal year.

Carlisle Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $5.00 annualized dividend and a yield of 1.4%. This is an increase from Carlisle Companies’s previous quarterly dividend of $1.10. Carlisle Companies’s payout ratio is 28.69%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Truist Financial decreased their target price on Carlisle Companies from $360.00 to $340.00 and set a “hold” rating on the stock in a report on Tuesday, July 7th. DA Davidson started coverage on Carlisle Companies in a report on Monday. They set a “neutral” rating and a $410.00 price target for the company. Robert W. Baird set a $412.00 price objective on shares of Carlisle Companies in a research report on Thursday, July 30th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Carlisle Companies in a report on Wednesday, June 24th. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $402.43.

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.