Carlisle Companies, Inc. (NYSE:CSL) announced a quarterly dividend on Tuesday, May 7th, RTT News reports. Stockholders of record on Wednesday, May 15th will be paid a dividend of 0.40 per share by the conglomerate on Monday, June 3rd. This represents a $1.60 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Tuesday, May 14th.
Carlisle Companies has raised its dividend by an average of 11.9% annually over the last three years and has increased its dividend every year for the last 42 years. Carlisle Companies has a payout ratio of 26.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Carlisle Companies to earn $8.66 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 18.5%.
Shares of NYSE:CSL opened at $136.35 on Monday. The stock has a market capitalization of $7.73 billion, a PE ratio of 21.92, a price-to-earnings-growth ratio of 1.16 and a beta of 1.07. Carlisle Companies has a 52-week low of $92.16 and a 52-week high of $142.00. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.15 and a current ratio of 2.96.
Carlisle Companies announced that its board has authorized a share repurchase program on Tuesday, February 5th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the conglomerate to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
In related news, insider John E. Berlin sold 15,150 shares of Carlisle Companies stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $124.24, for a total transaction of $1,882,236.00. Following the sale, the insider now directly owns 47,221 shares of the company’s stock, valued at $5,866,737.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Scott C. Selbach sold 20,850 shares of Carlisle Companies stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $119.83, for a total value of $2,498,455.50. Following the sale, the vice president now directly owns 62,916 shares in the company, valued at $7,539,224.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,865 shares of company stock worth $8,452,327. 1.70% of the stock is owned by company insiders.
CSL has been the topic of a number of recent research reports. ValuEngine raised Carlisle Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. Robert W. Baird set a $134.00 target price on Carlisle Companies and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Oppenheimer raised Carlisle Companies to a “buy” rating and set a $125.00 target price on the stock in a research report on Wednesday, January 16th. SunTrust Banks reissued a “buy” rating and set a $138.00 target price on shares of Carlisle Companies in a research report on Sunday, February 10th. Finally, BMO Capital Markets lifted their target price on Carlisle Companies from $115.00 to $125.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 19th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $139.86.
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Carlisle Companies Company Profile
Carlisle Companies Incorporated operates as a diversified manufacturing company. It operates through four segments: Carlisle Construction Materials, Carlisle Interconnect Technologies, Carlisle Fluid Technologies, and Carlisle Brake & Friction. The Carlisle Construction Materials segment offers thermoplastic polyolefin, ethylene propylene diene monomer rubber, and polyvinyl chloride roofing membranes that are used on non-residential low-sloped roofs; roofing accessories, such as flashings, fasteners, sealing tapes, coatings, and waterproofing products; rigid foam insulation panels for roofing applications; and specialty polyurethane products and solutions for various markets and applications.
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