Rising Interest Rate Impacted Carlisle Companies Incorporated (CSL) in Q1
Madison Investments, an investment advisor, released its “Madison Mid Cap Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund was up 5.3% compared to a 4.1% return for the Russell Midcap Index benchmark. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Madison Mid Cap Fund highlighted stocks like Carlisle Companies Incorporated (NYSE:CSL) in its Q1 2023 investor letter. Headquartered in Scottsdale, Arizona, Carlisle Companies Incorporated (NYSE:CSL) manufactures engineered products. On April 17, 2023, Carlisle Companies Incorporated (NYSE:CSL) stock closed at $216.87 per share. One-month return of Carlisle Companies Incorporated (NYSE:CSL) was -2.86%, and its shares lost 14.26% of their value over the last 52 weeks. Carlisle Companies Incorporated (NYSE:CSL) has a market capitalization of $11.078 billion.
Madison Mid Cap Fund made the following comment about Carlisle Companies Incorporated (NYSE:CSL) in its Q1 2023 investor letter:
The bottom five contributors for the quarter were Ross Stores, W.R. Berkley, Gartner, Glacier Bancorp, and Carlisle Companies Incorporated (NYSE:CSL). We added to Glacier and Carlisle in the quarter. Both are being caught up in temporary situations that we believe will resolve over time: Glacier in the mini-panic among banks, and Carlisle in the commercial real estate downturn triggered by rising rates."
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Carlisle Companies Incorporated (NYSE:CSL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 41 hedge fund portfolios held Carlisle Companies Incorporated (NYSE:CSL) at the end of the fourth quarter which was 41 in the previous quarter.
We discussed Carlisle Companies Incorporated (NYSE:CSL) in another article and shared the list of diversified dividend stocks to buy. 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.
