Carlisle Companies Incorporated Declares Quarterly Dividend of $1.00 (NYSE:CSL)

Carlisle Companies Incorporated (NYSE:CSL) announced a quarterly dividend on Tuesday, January 28th,RTT News reports. Shareholders of record on Tuesday, February 18th will be given a dividend of 1.00 per share by the conglomerate on Monday, March 3rd. This represents a $4.00 dividend on an annualized basis and a yield of 1.01%.

Carlisle Companies has increased its dividend payment by an average of 20.2% annually over the last three years and has raised its dividend every year for the last 35 years. Carlisle Companies has a dividend payout ratio of 15.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Carlisle Companies to earn $22.59 per share next year, which means the company should continue to be able to cover its $4.00 annual dividend with an expected future payout ratio of 17.7%.

Carlisle Companies Price Performance

Shares of NYSE:CSL traded down $2.05 during trading hours on Tuesday, hitting $395.43. 267,860 shares of the company’s stock traded hands, compared to its average volume of 315,237. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.29 and a current ratio of 2.72. The company’s fifty day simple moving average is $405.87 and its two-hundred day simple moving average is $420.20. Carlisle Companies has a 52 week low of $308.44 and a 52 week high of $481.26. The company has a market cap of $17.92 billion, a price-to-earnings ratio of 13.99, a price-to-earnings-growth ratio of 1.19 and a beta of 0.96.

Insider Buying and Selling

In other news, VP David W. Smith sold 275 shares of the stock in a transaction that occurred 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 directly owns 2,834 shares of the company’s stock, valued at $1,256,623.94. This represents a 8.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

CSL has been the subject of several research reports. Truist Financial assumed coverage on Carlisle Companies in a research note on Thursday, November 14th. They set a “hold” rating and a $460.00 price objective for the company. The Goldman Sachs Group decreased their price target on Carlisle Companies from $520.00 to $465.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Robert W. Baird cut their price objective on Carlisle Companies from $506.00 to $500.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Oppenheimer reaffirmed an “outperform” rating and set a $495.00 price objective (down from $505.00) on shares of Carlisle Companies in a research note on Friday, December 20th. Finally, Loop Capital dropped their target price on shares of Carlisle Companies from $475.00 to $460.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $476.00.

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.