Korea Investment CORP Sells 59,197 Shares of Carlisle Companies Incorporated $CSL

Korea Investment CORP lowered its stake in Carlisle Companies Incorporated (NYSE:CSL) by 80.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,949 shares of the conglomerate’s stock after selling 59,197 shares during the period. Korea Investment CORP’s holdings in Carlisle Companies were worth $4,589,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Goldman Sachs Group Inc. raised its stake in shares of Carlisle Companies by 36.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 105,468 shares of the conglomerate’s stock valued at $35,912,000 after acquiring an additional 28,414 shares in the last quarter. Savant Capital LLC boosted its position in Carlisle Companies by 21.8% during the second quarter. Savant Capital LLC now owns 1,807 shares of the conglomerate’s stock worth $675,000 after purchasing an additional 323 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Carlisle Companies by 0.3% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 39,077 shares of the conglomerate’s stock worth $14,591,000 after purchasing an additional 100 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Carlisle Companies during the second quarter valued at approximately $6,056,000. Finally, Allworth Financial LP grew its holdings in Carlisle Companies by 157.1% during the second quarter. Allworth Financial LP now owns 437 shares of the conglomerate’s stock valued at $163,000 after purchasing an additional 267 shares during the last quarter. Institutional investors and hedge funds own 89.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CSL. Oppenheimer boosted their price objective on shares of Carlisle Companies from $400.00 to $435.00 and gave the stock an “outperform” rating in a research note on Friday, February 27th. Robert W. Baird set a $420.00 target price on shares of Carlisle Companies in a research note on Wednesday, February 4th. William Blair began coverage on shares of Carlisle Companies in a report on Friday, January 30th. They issued a “market perform” rating on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Carlisle Companies in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. upped their price target on shares of Carlisle Companies from $400.00 to $420.00 and gave the company an “overweight” rating in a report on Monday. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Carlisle Companies currently has an average rating of “Hold” and a consensus price target of $399.17.

Carlisle Companies Trading Down 2.9%

Shares of Carlisle Companies stock opened at $342.87 on Friday. The company’s fifty day simple moving average is $372.45 and its 200-day simple moving average is $348.18. The company has a market cap of $14.02 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 1.13 and a beta of 0.91. The company has a current ratio of 3.09, a quick ratio of 2.49 and a debt-to-equity ratio of 1.60. Carlisle Companies Incorporated has a 1 year low of $293.43 and a 1 year high of $435.92.

Carlisle Companies (NYSE:CSL) last released its earnings results on Tuesday, February 3rd. The conglomerate reported $3.90 EPS for the quarter, beating the consensus estimate of $3.60 by $0.30. Carlisle Companies had a net margin of 14.76% and a return on equity of 41.58%. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the prior year, the company earned $4.47 EPS. The business’s quarterly revenue was up .4% compared to the same quarter last year. As a group, sell-side analysts expect that Carlisle Companies Incorporated will post 22.31 EPS for the current year.

Carlisle Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 17th were given a dividend of $1.10 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.3%. Carlisle Companies’s dividend payout ratio is currently 25.72%.

Insider Activity at Carlisle Companies

In related news, insider Stephen Schwar sold 6,049 shares of the stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $417.36, for a total value of $2,524,610.64. Following the completion of the sale, the insider owned 8,540 shares in the company, valued at approximately $3,564,254.40. This trade represents a 41.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevin P. Zdimal sold 24,180 shares of Carlisle Companies stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $408.04, for a total value of $9,866,407.20. Following the sale, the chief financial officer directly owned 30,094 shares in the company, valued at approximately $12,279,555.76. This trade represents a 44.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 68,289 shares of company stock worth $28,125,467 over the last ninety days. Corporate insiders own 1.50% of the company’s stock.

Carlisle Companies Profile

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.