Commerce Bank Acquires Shares of 2,930 Carlisle Companies Incorporated $CSL

Commerce Bank bought a new stake in Carlisle Companies Incorporated (NYSE:CSL) during the second quarter, HoldingsChannel.com reports. The firm bought 2,930 shares of the conglomerate’s stock, valued at approximately $1,063,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Carlisle Companies during the 2nd quarter worth $925,000. Quantbot Technologies LP bought a new stake in shares of Carlisle Companies during the 2nd quarter worth $1,240,000. Evolve Private Wealth LLC acquired a new stake in Carlisle Companies in the second quarter valued at about $264,000. Korea Investment CORP acquired a new stake in Carlisle Companies in the second quarter valued at about $17,492,000. Finally, Callan Family Office LLC bought a new position in Carlisle Companies in the second quarter valued at about $2,589,000. Institutional investors own 89.52% of the company’s stock.

Carlisle Companies Trading Up 0.8%

Shares of CSL stock opened at $366.08 on Thursday. Carlisle Companies Incorporated has a twelve month low of $293.43 and a twelve month high of $432.91. The stock’s fifty day simple moving average is $359.35 and its 200 day simple moving average is $358.01. The company has a quick ratio of 2.04, a current ratio of 2.60 and a debt-to-equity ratio of 1.78. The firm has a market capitalization of $14.54 billion, a P/E ratio of 21.00, a P/E/G ratio of 1.14 and a beta of 0.85.

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

Carlisle Companies Increases Dividend

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

Wall Street Analyst Weigh In

Several research analysts have commented on CSL shares. Weiss Ratings reissued a “hold (c)” rating on shares of Carlisle Companies in a research note on Wednesday, June 24th. Robert W. Baird set a $412.00 price target on shares of Carlisle Companies in a research note on Thursday, July 30th. DA Davidson initiated coverage on shares of Carlisle Companies in a report on Monday. They set a “neutral” rating and a $410.00 price target on the stock. Finally, Truist Financial lowered their price objective on shares of Carlisle Companies from $360.00 to $340.00 and set a “hold” rating for the company in a research report on Tuesday, July 7th. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $402.43.

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.