Carlisle Companies Incorporated (NYSE:CSL) Raises Dividend to $1.00 Per Share

Carlisle Companies Incorporated (NYSE:CSL) declared a quarterly dividend on Thursday, August 1st, Wall Street Journal reports. Investors of record on Tuesday, August 20th will be paid a dividend of 1.00 per share by the conglomerate on Tuesday, September 3rd. This represents a $4.00 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Tuesday, August 20th. This is a positive change from Carlisle Companies’s previous quarterly dividend of $0.85.

Carlisle Companies has raised its dividend payment by an average of 16.0% annually over the last three years and has increased its dividend every year for the last 47 years. Carlisle Companies has a dividend payout ratio of 14.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Carlisle Companies to earn $21.70 per share next year, which means the company should continue to be able to cover its $3.40 annual dividend with an expected future payout ratio of 15.7%.

Carlisle Companies Stock Down 1.9 %

Shares of NYSE CSL opened at $397.19 on Friday. The company has a quick ratio of 2.50, a current ratio of 2.89 and a debt-to-equity ratio of 0.63. Carlisle Companies has a 52 week low of $235.79 and a 52 week high of $443.87. The firm’s fifty day moving average is $415.46 and its 200 day moving average is $384.30. The company has a market cap of $18.37 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 1.31 and a beta of 0.90.

Carlisle Companies (NYSE:CSL) last issued its earnings results on Wednesday, July 24th. The conglomerate reported $6.24 EPS for the quarter, topping the consensus estimate of $5.84 by $0.40. Carlisle Companies had a net margin of 27.88% and a return on equity of 31.65%. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the previous year, the firm earned $5.18 earnings per share. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, equities research analysts expect that Carlisle Companies will post 20.58 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on CSL shares. Robert W. Baird boosted their price objective on shares of Carlisle Companies from $465.00 to $500.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Oppenheimer boosted their price objective on shares of Carlisle Companies from $412.00 to $430.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $423.00.

Insider Activity

In other news, VP David W. Smith sold 2,037 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $405.58, for a total transaction of $826,166.46. Following the sale, the vice president now owns 2,834 shares in the company, valued at approximately $1,149,413.72. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, VP David W. Smith sold 600 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $425.56, for a total transaction of $255,336.00. Following the sale, the vice president now owns 2,834 shares in the company, valued at approximately $1,206,037.04. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP David W. Smith sold 2,037 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $405.58, for a total transaction of $826,166.46. Following the completion of the transaction, the vice president now owns 2,834 shares in the company, valued at approximately $1,149,413.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,034 shares of company stock worth $33,285,114. Corporate insiders own 1.50% of the company’s stock.

Carlisle Companies Company Profile

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.