Carlisle companies CFO sells over $9 million in company stock

Kevin P. Zdimal, the Vice President and Chief Financial Officer of Carlisle Companies Inc . (NYSE: (OTC:)), has recently sold a significant amount of company stock, according to a new SEC filing. The transactions, which took place on July 26, 2024, involved the sale of shares at prices ranging from $423.17 to $428.26, totaling approximately $9,130,892.

On the same day, Zdimal also exercised options to acquire shares of Carlisle Companies stock at prices between $110.79 and $161.41, amounting to a total of $3,013,959. These acquisitions were made through transactions that allowed the CFO to convert options into shares of common stock.

The sales were executed in multiple trades, with the prices reported reflecting the weighted average sales price. Zdimal has undertaken to provide full information regarding the number of shares sold at each separate price upon request by the SEC staff, the issuer, or a security holder of the issuer.

This series of transactions has resulted in a change in Zdimal’s holdings in Carlisle Companies, although he still retains 35,641 shares of common stock following the sales. The company, known for its manufacturing of fabricated rubber products, has its headquarters in Scottsdale, Arizona, and operates under the leadership of its executive team.

Investors often monitor the buying and selling activities of company insiders like Zdimal for insights into the company’s financial health and future prospects. The transactions disclosed in the SEC filing provide a snapshot of such activities at Carlisle Companies.

In other recent news, Carlisle Companies Incorporated posted impressive Q2 results, with year-over-year sales growth of 11%, totaling $1.5 billion. The company’s adjusted earnings per share (EPS) climbed by 33% to $6.24, while the adjusted EBITDA margin increased by 220 basis points to a record 28.8%. Based on these strong results, Carlisle has raised its full-year 2024 outlook, projecting a revenue growth of approximately 12% and an adjusted EBITDA margin increase of around 150 basis points.

Moreover, Carlisle successfully completed the $2 billion sale of CIT, transitioning to a pure-play building products company. The company also acquired MTL and plans a $45 million investment in a research and innovation center. These developments are part of the company’s Vision 2030 strategy, which aims for above-market growth, price and cost leadership, and customer service excellence.

Despite some challenges, including rising raw material costs and pricing dynamics leading to flat price-cost expectations, Carlisle’s overall outlook for 2024 remains positive. The company has launched over 25 new products in the past 18 months, contributing to energy efficiency and labor savings. Furthermore, the company is investing in automation and AI to improve operational efficiency and responsiveness, positioning Carlisle to capitalize on market opportunities and drive shareholder value.

InvestingPro Insights

Carlisle Companies Inc. (NYSE:CSL) has been demonstrating a strong financial performance, as indicated by the latest data from InvestingPro. With a market capitalization of $19.54 billion and a P/E ratio of 14.85, the company presents an interesting valuation case. Notably, the P/E ratio has adjusted to 22.85 in the last twelve months as of Q2 2024, which may suggest a shift in investor expectations about the company’s future earnings potential.

One of the standout InvestingPro Tips for Carlisle Companies is the company’s perfect Piotroski Score of 9, which indicates a very healthy financial state. Additionally, the company has been aggressively buying back shares, signaling management’s confidence in the company’s value. Investors looking for a combination of growth and income will appreciate that Carlisle has raised its dividend for 31 consecutive years and has maintained dividend payments for 54 consecutive years, with a recent dividend growth of 13.33%.

For those considering an investment in Carlisle Companies, the InvestingPro product offers additional insights. There are 17 more InvestingPro Tips available, which can be accessed at: https://www.investing.com/pro/CSL. These tips can provide further depth to your analysis and help you make an informed decision. To enhance your investing toolkit, use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.

Lastly, it’s worth noting that the company’s share price has experienced a large uptick over the last six months, with a 36.33% total return, and it’s currently trading at 96.01% of its 52-week high. This performance aligns with the company’s strong return over the last year, which stands at an impressive 55.26%.

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