The Manufacturers Life Insurance Company Lowers Position in Carlisle Companies Incorporated (NYSE:CSL)

The Manufacturers Life Insurance Company trimmed its holdings in shares of Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 7.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,869 shares of the conglomerate's stock after selling 2,305 shares during the period. The Manufacturers Life Insurance Company owned about 0.07% of Carlisle Companies worth $13,434,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Capital Performance Advisors LLP acquired a new position in shares of Carlisle Companies in the third quarter valued at approximately $25,000. ORG Wealth Partners LLC acquired a new stake in shares of Carlisle Companies during the 3rd quarter worth approximately $32,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Carlisle Companies in the second quarter valued at approximately $32,000. ORG Partners LLC acquired a new position in Carlisle Companies during the second quarter valued at approximately $31,000. Finally, Gilliland Jeter Wealth Management LLC bought a new stake in Carlisle Companies during the second quarter worth $39,000. Institutional investors own 89.52% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on CSL shares. Robert W. Baird lowered their target price on Carlisle Companies from $506.00 to $500.00 and set an "outperform" rating for the company in a research note on Friday, October 25th. StockNews.com cut shares of Carlisle Companies from a "buy" rating to a "hold" rating in a research report on Tuesday, August 27th. Oppenheimer raised their target price on Carlisle Companies from $480.00 to $505.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 22nd. Finally, Truist Financial initiated coverage on Carlisle Companies in a research report on Thursday, November 14th. They issued a "hold" rating and a $460.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $472.00.

Insider Activity

In related news, VP David W. Smith sold 275 shares of Carlisle Companies stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $443.41, for a total value of $121,937.75. Following the completion of the sale, the vice president now owns 2,834 shares of the company's stock, valued at approximately $1,256,623.94. This trade represents a 8.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.50% of the company's stock.

Carlisle Companies Trading Down 0.6 %

Shares of NYSE:CSL traded down $2.80 during midday trading on Monday, reaching $453.90. The company's stock had a trading volume of 90,209 shares, compared to its average volume of 324,551. The firm has a 50 day moving average price of $449.55 and a two-hundred day moving average price of $425.56. Carlisle Companies Incorporated has a fifty-two week low of $283.87 and a fifty-two week high of $481.26. The firm has a market capitalization of $20.57 billion, a price-to-earnings ratio of 16.11, a PEG ratio of 1.50 and a beta of 0.91. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.29 and a current ratio of 2.72.

Carlisle Companies (NYSE:CSL - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The conglomerate reported $5.78 EPS for the quarter, missing the consensus estimate of $5.82 by ($0.04). Carlisle Companies had a return on equity of 33.29% and a net margin of 27.05%. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the business earned $4.68 EPS. The business's quarterly revenue was up 5.9% compared to the same quarter last year. As a group, analysts forecast that Carlisle Companies Incorporated will post 20.25 earnings per share for the current year.

Carlisle Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 15th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Friday, November 15th. Carlisle Companies's dividend payout ratio (DPR) is currently 14.15%.

Carlisle Companies 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.