Wedge Capital Management L L P NC Sells 10,913 Shares of Carlisle Companies Incorporated $CSL

Wedge Capital Management L L P NC lowered its stake in Carlisle Companies Incorporated (NYSE:CSL) by 22.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 37,311 shares of the conglomerate’s stock after selling 10,913 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Carlisle Companies were worth $13,535,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CSL. BOK Financial Private Wealth Inc. acquired a new stake in Carlisle Companies in the 4th quarter worth approximately $27,000. Osterweis Capital Management Inc. bought a new position in shares of Carlisle Companies in the second quarter valued at approximately $36,000. Signature Equity Partners LLC lifted its stake in shares of Carlisle Companies by 3,133.3% in the first quarter. Signature Equity Partners LLC now owns 97 shares of the conglomerate’s stock worth $32,000 after buying an additional 94 shares during the last quarter. Allied Private Wealth LLC bought a new stake in shares of Carlisle Companies during the 2nd quarter worth $33,000. Finally, Torren Management LLC acquired a new position in Carlisle Companies in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 89.52% of the company’s stock.

Carlisle Companies Price Performance

NYSE:CSL opened at $382.85 on Thursday. The company has a debt-to-equity ratio of 1.78, a current ratio of 2.60 and a quick ratio of 2.04. Carlisle Companies Incorporated has a one year low of $293.43 and a one year high of $432.91. The company has a fifty day moving average price of $355.23 and a 200 day moving average price of $357.45. The stock has a market cap of $15.20 billion, a P/E ratio of 21.97, a PEG ratio of 1.23 and a beta of 0.85.

Carlisle Companies (NYSE:CSL) last posted its quarterly earnings results on Wednesday, July 29th. The conglomerate reported $7.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.35 by $0.68. Carlisle Companies had a net margin of 14.21% and a return on equity of 47.58%. The company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the business posted $6.27 EPS. The business’s quarterly revenue was up 8.3% on a year-over-year basis. Analysts anticipate that Carlisle Companies Incorporated will post 21.21 earnings per share for the current year.

Carlisle Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 19th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.3%. This is a boost from Carlisle Companies’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Wednesday, August 19th. Carlisle Companies’s dividend payout ratio (DPR) is 25.24%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Carlisle Companies in a report on Wednesday, June 24th. Raymond James Financial started coverage on Carlisle Companies in a research report on Monday, April 27th. They issued an “outperform” rating and a $425.00 price target on the stock. Robert W. Baird set a $412.00 price objective on Carlisle Companies in a research note on Thursday, July 30th. Truist Financial cut their price objective on Carlisle Companies from $360.00 to $340.00 and set a “hold” rating for the company in a research report on Tuesday, July 7th. Finally, Oppenheimer increased their target price on Carlisle Companies from $420.00 to $425.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Carlisle Companies has an average rating of “Moderate Buy” and an average target price of $401.17.

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.