Madison Asset Management LLC Invests $152.87 Million in Carlisle Companies Incorporated $CSL

Madison Asset Management LLC purchased a new position in Carlisle Companies Incorporated (NYSE:CSL) during the second quarter, Holdings Channel reports. The fund purchased 421,406 shares of the conglomerate’s stock, valued at approximately $152,865,000. Carlisle Companies makes up about 1.8% of Madison Asset Management LLC’s holdings, making the stock its 8th largest position.

Several other institutional investors also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its position in Carlisle Companies by 36.9% in the first quarter. Goldman Sachs Group Inc. now owns 105,468 shares of the conglomerate’s stock worth $35,912,000 after acquiring an additional 28,414 shares during the period. Baird Financial Group Inc. boosted its stake in Carlisle Companies by 8.4% in the second quarter. Baird Financial Group Inc. now owns 2,549 shares of the conglomerate’s stock valued at $952,000 after acquiring an additional 197 shares during the last quarter. Jump Financial LLC bought a new position in shares of Carlisle Companies during the 2nd quarter valued at approximately $1,345,000. Bank of Nova Scotia grew its position in shares of Carlisle Companies by 118.6% during the 2nd quarter. Bank of Nova Scotia now owns 1,646 shares of the conglomerate’s stock valued at $615,000 after acquiring an additional 893 shares during the period. Finally, Sei Investments Co. increased its stake in shares of Carlisle Companies by 40.0% during the 2nd quarter. Sei Investments Co. now owns 115,396 shares of the conglomerate’s stock worth $43,088,000 after purchasing an additional 32,996 shares during the last quarter. Institutional investors own 89.52% of the company’s stock.

Carlisle Companies Stock Up 2.7%

Shares of NYSE CSL opened at $366.05 on Thursday. Carlisle Companies Incorporated has a 52 week low of $293.43 and a 52 week high of $432.91. The business has a 50-day simple moving average of $357.77 and a two-hundred day simple moving average of $358.16. 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 company has a market cap of $14.54 billion, a P/E ratio of 21.00, a P/E/G ratio of 1.12 and a beta of 0.85.

Carlisle Companies (NYSE:CSL) last announced its quarterly earnings results on Wednesday, July 29th. The conglomerate reported $7.03 earnings per share 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 for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the business posted $6.27 earnings per share. The company’s revenue was up 8.3% on a year-over-year basis. Research analysts anticipate that Carlisle Companies Incorporated will post 21.21 earnings per share 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. Investors of record on Wednesday, August 19th will be paid a dividend of $1.25 per share. This is an increase from Carlisle Companies’s previous quarterly dividend of $1.10. This represents a $5.00 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, August 19th. Carlisle Companies’s dividend payout ratio is presently 25.24%.

Analyst Upgrades and Downgrades

CSL has been the topic of several research analyst reports. Raymond James Financial assumed coverage on Carlisle Companies in a research note on Monday, April 27th. They issued an “outperform” rating and a $425.00 price objective on the stock. Truist Financial decreased their target price 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. Weiss Ratings restated a “hold (c)” rating on shares of Carlisle Companies in a research note on Wednesday, June 24th. Oppenheimer upped their price target on Carlisle Companies from $420.00 to $425.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Finally, Robert W. Baird set a $412.00 price target on Carlisle Companies in a research note on Thursday, July 30th. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $401.17.

Carlisle Companies Company 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.