Andra AP Fonden Increases Stake in Carlisle Companies by 1,207.7%

Andra AP Fonden significantly increased its investment in Carlisle Companies Incorporated (NYSE: CSL) by an impressive 1,207.7% during the second quarter of 2023. According to its latest Form 13F filing with the U.S. Securities and Exchange Commission (SEC), the firm now owns 27,449 shares of the conglomerate, having purchased an additional 25,350 shares during this period. As a result, Andra AP Fonden holds a stake valued at approximately $10.25 million, constituting 0.06% of Carlisle Companies.

Several other institutional investors have also adjusted their positions in Carlisle Companies recently. GFG Capital LLC entered the scene by acquiring a new stake valued at around $25,000 in the second quarter. Hemington Wealth Management raised its holdings by 61.9%, now owning 68 shares valued at $25,000 after acquiring an additional 26 shares. Caitong International Asset Management Co. Ltd made a notable increase of 527.3% in its stake, bringing its total to 69 shares valued at $26,000 following the purchase of 58 additional shares. Dagco Inc. and Costello Asset Management Inc. also entered the market with new stakes valued at $27,000 and $34,000, respectively. Overall, institutional investors now own 89.52% of Carlisle Companies’ stock.

Carlisle Companies Performance and Earnings Report

On October 29, 2023, Carlisle Companies reported its latest earnings, revealing a strong performance with earnings per share (EPS) of $5.61 for the quarter. This result surpassed the consensus estimate of $5.47 by $0.14. The company generated revenue of $1.35 billion, exceeding the anticipated $1.32 billion. Year-over-year, Carlisle Companies experienced a 1.0% increase in revenue, although the EPS was slightly lower compared to $5.78 from the same quarter last year. The firm has set its fiscal year 2025 guidance at an EPS of $22.31.

Carlisle Companies’ stock opened at $315.42, reflecting a 4.2% decrease. The company’s 52-week range shows a low of $311.41 and a high of $472.66. With a market capitalization of $13.18 billion, its price-to-earnings (P/E) ratio stands at 17.89 and a P/E to growth (P/E/G) ratio of 1.12. The current ratio is 2.19, quick ratio at 1.47, and a debt-to-equity ratio of 0.89.

Dividend Announcement and Analyst Ratings

In addition to its earnings report, Carlisle Companies announced a quarterly dividend payment of $1.10, set to be distributed on December 1, 2023. Shareholders on record as of November 14, 2023, will receive this payment, translating to an annualized dividend of $4.40 and a dividend yield of 1.4%. The company’s payout ratio currently stands at 24.96%.

Equity analysts have varied perspectives on Carlisle Companies. Truist Financial recently reduced its price target from $350.00 to $340.00 while maintaining a “hold” rating. Oppenheimer adjusted its price objective from $440.00 to $415.00 with an “outperform” rating. Loop Capital downgraded the stock from a “buy” to a “hold” rating, decreasing its target price from $430.00 to $395.00. Goldman Sachs and JPMorgan Chase also adjusted their price targets, with Goldman Sachs lowering its to $385.00 and JPMorgan to $400.00. Currently, four analysts rate the stock as “buy,” five as “hold,” and one as “sell,” leading to an average rating of “hold” with a target price of $386.67.

Carlisle Companies Incorporated operates as a manufacturer and supplier of building envelope products and solutions globally, catering to markets in the United States, Europe, North America, Asia, and the Middle East, among others. Its operations are divided into two primary segments: Carlisle Construction Materials and Carlisle Weatherproofing Technologies.