Seven Eight Capital LP Makes New Investment in Carlisle Companies Incorporated (NYSE:CSL)

Seven Eight Capital LP bought a new stake in Carlisle Companies Incorporated (NYSE:CSL) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,939 shares of the conglomerate’s stock, valued at approximately $1,191,000.

Several other hedge funds have also modified their holdings of CSL. Norges Bank acquired a new stake in Carlisle Companies in the fourth quarter valued at approximately $159,187,000. TD Asset Management Inc increased its stake in Carlisle Companies by 2,073.5% during the 2nd quarter. TD Asset Management Inc now owns 281,643 shares of the conglomerate’s stock worth $114,125,000 after buying an additional 268,685 shares during the period. Public Employees Retirement Association of Colorado lifted its holdings in Carlisle Companies by 666.0% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 227,949 shares of the conglomerate’s stock worth $71,218,000 after buying an additional 198,191 shares in the last quarter. Wellington Management Group LLP boosted its position in Carlisle Companies by 1,074.0% in the 4th quarter. Wellington Management Group LLP now owns 152,001 shares of the conglomerate’s stock valued at $47,490,000 after buying an additional 139,054 shares during the last quarter. Finally, Swedbank AB acquired a new stake in shares of Carlisle Companies during the first quarter valued at about $31,218,000. 89.52% of the stock is currently owned by hedge funds and other institutional investors.

Carlisle Companies Price Performance

Shares of CSL opened at $438.58 on Friday. Carlisle Companies Incorporated has a 52 week low of $235.79 and a 52 week high of $443.87. The company has a current ratio of 2.89, a quick ratio of 2.50 and a debt-to-equity ratio of 0.63. The firm has a market cap of $20.88 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 1.30 and a beta of 0.90. The stock has a 50 day moving average of $410.20 and a 200-day moving average of $401.78.

Carlisle Companies (NYSE:CSL) last released its earnings results on Wednesday, July 24th. The conglomerate reported $6.24 earnings per share for the quarter, beating the consensus estimate of $5.84 by $0.40. Carlisle Companies had a net margin of 27.88% and a return on equity of 31.65%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the previous year, the firm earned $5.18 earnings per share. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, analysts forecast that Carlisle Companies Incorporated will post 20.58 EPS for the current year.

Carlisle Companies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were paid a $1.00 dividend. This is an increase from Carlisle Companies’s previous quarterly dividend of $0.85. This represents a $4.00 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend was Tuesday, August 20th. Carlisle Companies’s payout ratio is presently 23.19%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Robert W. Baird increased their price target on Carlisle Companies from $465.00 to $500.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Oppenheimer reiterated an “outperform” rating and set a $480.00 target price (up from $475.00) on shares of Carlisle Companies in a research note on Wednesday, September 4th. Finally, StockNews.com lowered shares of Carlisle Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $433.00.

Insider Activity

In related news, VP David W. Smith sold 600 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $425.56, for a total transaction of $255,336.00. Following the completion of the transaction, the vice president now owns 2,834 shares in the company, valued at approximately $1,206,037.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP David W. Smith sold 600 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $425.56, for a total value of $255,336.00. Following the sale, the vice president now owns 2,834 shares of the company’s stock, valued at approximately $1,206,037.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin P. Zdimal sold 21,470 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $425.29, for a total transaction of $9,130,976.30. Following the transaction, the chief financial officer now directly owns 35,641 shares of the company’s stock, valued at $15,157,760.89. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

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.