Is Carlisle Companies Incorporated (CSL) Trading at a Discount?

Investment management company Ave Maria recently released its “Rising Dividend Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. The total return of the fund in the first quarter was 0.49% compared to a 5.17% return for the S&P 500 Value Index. Fund’s strongest contributors were from the Information Technology, Real Estate, and Industrials sectors while Energy, Financials, and Consumer Discretionary sectors detracted. You can check the top 5 holdings of the fund to know its best picks in 2023.

Ave Maria Rising Dividend Fund highlighted stocks like Carlisle Companies Incorporated (NYSE:CSL) in the first quarter 2023 investor letter. Headquartered in Scottsdale, Arizona, Carlisle Companies Incorporated (NYSE:CSL) manufactures engineered products. On June 7, 2023, Carlisle Companies Incorporated (NYSE:CSL) stock closed at $231.60 per share. One-month return of Carlisle Companies Incorporated (NYSE:CSL) was 11.54%, and its shares lost 12.14% of their value over the last 52 weeks. Carlisle Companies Incorporated (NYSE:CSL) has a market capitalization of $11.804 billion.

Ave Maria Rising Dividend Fund made the following comment about Carlisle Companies Incorporated (NYSE:CSL) in its Q1 2023 investor letter:

“A total of five positions were eliminated from the Fund during the quarter due to valuation, a small spin-off from a parent company, and a pending acquisition target. The Fund added one new position, Carlisle Companies Incorporated (NYSE:CSL) (building materials), during the quarter. The company possesses a strong balance sheet, operates with competitive advantages, and consistently produces above-average cash flow and dividend growth. The position was initiated when the stock dipped below our estimation of what the company is worth.”

Carlisle Companies Incorporated (NYSE:CSL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 36 hedge fund portfolios held Carlisle Companies Incorporated (NYSE:CSL) at the end of first quarter 2023 which was 41 in the previous quarter.

We discussed Carlisle Companies Incorporated (NYSE:CSL) in another article and shared the list of under-the-radar dividend champions to consider. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.