abrdn plc Cuts Position in Carlisle Companies Incorporated (NYSE:CSL)

abrdn plc trimmed its holdings in shares of Carlisle Companies Incorporated (NYSE:CSL) by 2.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 140,545 shares of the conglomerate’s stock after selling 3,666 shares during the period. abrdn plc owned approximately 0.30% of Carlisle Companies worth $63,210,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC boosted its holdings in Carlisle Companies by 1.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,855 shares of the conglomerate’s stock worth $1,511,000 after acquiring an additional 43 shares in the last quarter. State of Michigan Retirement System raised its position in shares of Carlisle Companies by 2.6% in the 1st quarter. State of Michigan Retirement System now owns 11,972 shares of the conglomerate’s stock worth $4,691,000 after purchasing an additional 300 shares during the last quarter. Norden Group LLC bought a new position in Carlisle Companies in the 1st quarter worth about $339,000. First Trust Direct Indexing L.P. grew its position in Carlisle Companies by 5.5% during the 1st quarter. First Trust Direct Indexing L.P. now owns 785 shares of the conglomerate’s stock valued at $308,000 after purchasing an additional 41 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in Carlisle Companies by 6.9% during the 1st quarter. Van ECK Associates Corp now owns 7,065 shares of the conglomerate’s stock valued at $2,768,000 after purchasing an additional 457 shares in the last quarter. 89.52% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CSL. Robert W. Baird dropped their target price on shares of Carlisle Companies from $506.00 to $500.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Oppenheimer increased their target price on Carlisle Companies from $480.00 to $505.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com lowered Carlisle Companies from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Carlisle Companies presently has an average rating of “Moderate Buy” and an average target price of $475.00.

Carlisle Companies Stock Down 0.5 %

CSL opened at $418.95 on Wednesday. The stock has a market capitalization of $19.37 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 1.52 and a beta of 0.91. The firm has a 50 day moving average price of $435.14 and a 200-day moving average price of $417.08. Carlisle Companies Incorporated has a twelve month low of $248.81 and a twelve month high of $481.26. The company has a quick ratio of 2.50, a current ratio of 2.89 and a debt-to-equity ratio of 0.63.

Carlisle Companies (NYSE:CSL) last announced its earnings results on Thursday, October 24th. The conglomerate reported $5.78 earnings per share for the quarter, missing analysts’ consensus estimates of $5.82 by ($0.04). The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Carlisle Companies had a net margin of 27.88% and a return on equity of 31.65%. Carlisle Companies’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.68 earnings per share. Equities research analysts forecast that Carlisle Companies Incorporated will post 20.57 earnings per share for the current year.

Carlisle Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 0.95%. This is a boost from Carlisle Companies’s previous quarterly dividend of $0.85. The ex-dividend date was Tuesday, August 20th. Carlisle Companies’s dividend payout ratio (DPR) is presently 14.15%.

About Carlisle Companies

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.