Carlisle Companies (NYSE:CSL) Shares Gap Down – Here’s What Happened

Carlisle Companies Incorporated (NYSE:CSL)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $376.31, but opened at $362.58. Carlisle Companies shares last traded at $358.35, with a volume of 30,231 shares changing hands.

Analyst Ratings Changes

Several research firms recently commented on CSL. Robert W. Baird cut their target price on shares of Carlisle Companies from $506.00 to $500.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. The Goldman Sachs Group cut their target price on shares of Carlisle Companies from $520.00 to $465.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Truist Financial initiated coverage on shares of Carlisle Companies in a report on Thursday, November 14th. They issued a “hold” rating and a $460.00 price target on the stock. Oppenheimer reissued an “outperform” rating and issued a $495.00 price target (down previously from $505.00) on shares of Carlisle Companies in a report on Friday, December 20th. Finally, Loop Capital lowered their price target on shares of Carlisle Companies from $475.00 to $460.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $476.00.

Carlisle Companies Trading Down 6.9 %

The company’s fifty day moving average price is $398.62 and its two-hundred day moving average price is $418.51. The company has a current ratio of 2.72, a quick ratio of 2.29 and a debt-to-equity ratio of 0.68. The firm has a market cap of $15.89 billion, a P/E ratio of 12.40, a price-to-earnings-growth ratio of 1.15 and a beta of 0.96.

Carlisle Companies (NYSE:CSL) last posted its earnings results on Tuesday, February 4th. The conglomerate reported $4.47 earnings per share for the quarter, topping the consensus estimate of $4.43 by $0.04. Carlisle Companies had a net margin of 27.05% and a return on equity of 33.29%. During the same period last year, the business posted $4.17 EPS. As a group, sell-side analysts predict that Carlisle Companies Incorporated will post 20.23 EPS for the current fiscal year.

Carlisle Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $4.00 annualized dividend and a yield of 1.14%. Carlisle Companies’s dividend payout ratio (DPR) is 14.15%.

Insider Buying and Selling

In other Carlisle Companies news, VP David W. Smith sold 275 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $443.41, for a total transaction of $121,937.75. Following the transaction, the vice president now directly owns 2,834 shares in the company, valued at approximately $1,256,623.94. This represents a 8.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.50% of the stock is owned by corporate insiders.

Institutional Trading of Carlisle Companies

A number of hedge funds have recently modified their holdings of the company. Marshall Wace LLP bought a new stake in Carlisle Companies during the 2nd quarter worth approximately $254,000. Sanctuary Advisors LLC bought a new stake in Carlisle Companies during the 2nd quarter worth approximately $840,000. GAMMA Investing LLC increased its stake in Carlisle Companies by 33.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,287 shares of the conglomerate’s stock worth $579,000 after purchasing an additional 322 shares in the last quarter. Chesley Taft & Associates LLC increased its stake in Carlisle Companies by 2.1% during the 3rd quarter. Chesley Taft & Associates LLC now owns 4,701 shares of the conglomerate’s stock worth $2,114,000 after purchasing an additional 95 shares in the last quarter. Finally, Strategic Wealth Partners Ltd. bought a new stake in Carlisle Companies during the 3rd quarter worth approximately $428,000. 89.52% of the stock is currently owned by institutional investors and hedge funds.

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.