Oppenheimer Reaffirms Outperform Rating for Carlisle Companies (NYSE:CSL)

Oppenheimer restated their outperform rating on shares of Carlisle Companies (NYSE:CSL) in a research report report published on Wednesday morning, Benzinga reports. The firm currently has a $480.00 price objective on the conglomerate’s stock, up from their prior price objective of $475.00.

A number of other equities analysts have also recently issued reports on the company. Robert W. Baird upped their price objective on Carlisle Companies from $465.00 to $500.00 and gave the stock an outperform rating in a report on Monday, July 15th. StockNews.com cut Carlisle Companies from a buy rating to a hold rating in a report on Tuesday, August 27th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Carlisle Companies presently has an average rating of Moderate Buy and a consensus price target of $433.00.

Carlisle Companies Price Performance

Shares of NYSE CSL opened at $402.11 on Wednesday. The firm has a market capitalization of $19.14 billion, a P/E ratio of 23.31, a P/E/G ratio of 1.37 and a beta of 0.90. The company has a quick ratio of 2.50, a current ratio of 2.89 and a debt-to-equity ratio of 0.63. The stock’s 50-day simple moving average is $410.00 and its two-hundred day simple moving average is $398.48. Carlisle Companies has a twelve month low of $235.79 and a twelve month high of $443.87.

Carlisle Companies (NYSE:CSL) last announced its earnings results on Wednesday, July 24th. The conglomerate reported $6.24 earnings per share for the quarter, topping analysts’ consensus estimates of $5.84 by $0.40. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.45 billion. Carlisle Companies had a return on equity of 31.65% and a net margin of 27.88%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company earned $5.18 EPS. As a group, equities analysts anticipate that Carlisle Companies will post 20.58 EPS for the current fiscal year.

Carlisle Companies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were issued a dividend of $1.00 per share. The ex-dividend date was Tuesday, August 20th. This is a boost from Carlisle Companies’s previous quarterly dividend of $0.85. This represents a $4.00 annualized dividend and a yield of 0.99%. Carlisle Companies’s dividend payout ratio is currently 23.19%.

Insider Activity at Carlisle Companies

In related news, CFO Kevin P. Zdimal sold 21,470 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $425.29, for a total transaction of $9,130,976.30. Following the completion of the sale, the chief financial officer now directly owns 35,641 shares in the company, valued at approximately $15,157,760.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Carlisle Companies news, CFO Kevin P. Zdimal sold 21,470 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $425.29, for a total value of $9,130,976.30. Following the completion of the sale, the chief financial officer now owns 35,641 shares in the company, valued at approximately $15,157,760.89. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP David W. Smith sold 600 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $425.56, for a total value of $255,336.00. Following the completion of the sale, the vice president now owns 2,834 shares of the company’s stock, valued at approximately $1,206,037.04. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Carlisle Companies

Several institutional investors and hedge funds have recently bought and sold shares of CSL. First Trust Direct Indexing L.P. purchased a new stake in Carlisle Companies in the 4th quarter worth approximately $232,000. Spire Wealth Management raised its position in shares of Carlisle Companies by 2,643.8% in the 4th quarter. Spire Wealth Management now owns 878 shares of the conglomerate’s stock worth $271,000 after acquiring an additional 846 shares in the last quarter. Private Advisor Group LLC bought a new position in shares of Carlisle Companies in the 4th quarter worth approximately $238,000. Apollon Wealth Management LLC bought a new position in shares of Carlisle Companies in the 4th quarter worth approximately $217,000. Finally, Principal Securities Inc. bought a new position in shares of Carlisle Companies in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 89.52% 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.