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 given a dividend of 0.40 per share by the conglomerate on Monday, June 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Tuesday, May 14th.
Carlisle Companies has increased its dividend by an average of 11.9% per year over the last three years and has increased its dividend annually for the last 42 consecutive years. Carlisle Companies has a dividend payout ratio of 26.4% indicating that 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 traded down $3.65 during midday trading on Friday, reaching $133.31. The company’s stock had a trading volume of 399,038 shares, compared to its average volume of 389,735. Carlisle Companies has a 12-month low of $92.16 and a 12-month high of $142.00. The company has a market capitalization of $7.81 billion, a PE ratio of 21.43, a P/E/G ratio of 1.16 and a beta of 1.07. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.96 and a quick ratio of 2.15.
Carlisle Companies announced that its Board of Directors has approved a stock buyback plan on Tuesday, February 5th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the conglomerate to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.
Several brokerages recently commented on CSL. Zacks Investment Research raised shares of Carlisle Companies from a “hold” rating to a “buy” rating and set a $154.00 price objective on the stock in a research report on Monday, April 29th. ValuEngine upgraded shares of Carlisle Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. Oppenheimer upped their target price on shares of Carlisle Companies from $140.00 to $150.00 in a research note on Wednesday, April 24th. Robert W. Baird upped their target price on shares of Carlisle Companies from $135.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Finally, BMO Capital Markets upped their target price on shares of Carlisle Companies from $125.00 to $135.00 and gave the company a “market perform” rating in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $139.86.
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About Carlisle Companies
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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