demand / volume
“Re-roofing demand remained healthy with stable contractor backlogs offsetting weaker new construction and temporary fluctuations in order patterns driven by the changes in our distribution channel.”
CSL 10-Q
Confirmed
Rental & Building Services
22 names are moving together; 59% are participating in the current session.
7 observed Confirmed episodes
Co-movement
Observed member paths adjusted against SPY. Shading marks the latest observation window.
Members
| TICKER | Company | Sector | Today | Observed activity |
|---|---|---|---|---|
| CRH | CRH PLC | Basic Materials | -1.9% | 1/13 observed active sessions |
| VMC | Vulcan Materials Company (Holdi | Basic Materials | -0.8% | 1/13 observed active sessions |
| ESAB | ESAB Corporation | Industrials | -2.7% | 2/13 observed active sessions |
| WMS | Advanced Drainage Systems, Inc. | Industrials | -2.2% | 1/13 observed active sessions |
| CSL | Carlisle Companies Incorporated | Industrials | +0.8% | Most structurally connected |
| PPG | PPG Industries, Inc. | Basic Materials | -2.5% | Group member |
| FUL | H. B. Fuller Company | Basic Materials | +0.1% | Group member |
| AWI | Armstrong World Industries Inc | Industrials | +0.0% | 3/13 observed active sessions |
| LPX | Louisiana-Pacific Corporation | Industrials | -1.3% | Group member |
| ELAN | Elanco Animal Health Incorporat | Healthcare | +1.3% | Group member |
| EXP | Eagle Materials Inc | Basic Materials | -2.1% | 2/13 observed active sessions |
| JHX | James Hardie Industries plc. | Basic Materials | -2.1% | Group member |
| RPM | RPM International Inc. | Basic Materials | -2.4% | Group member |
| KNF | Knife Riv Holding Co. | Basic Materials | -3.1% | 1/13 observed active sessions |
| MHK | Mohawk Industries, Inc. | Consumer Cyclical | -2.1% | Group member |
| IP | International Paper Company | Consumer Cyclical | -2.4% | Group member |
| AMRZ | Amrize Ltd | Basic Materials | -3.4% | 2/13 observed active sessions |
| TREX | Trex Company, Inc. | Industrials | -2.7% | Group member |
| MLM | Martin Marietta Materials, Inc. | Basic Materials | -1.3% | 3/13 observed active sessions |
| SGI | Somnigroup International Inc. | Consumer Cyclical | -2.4% | Group member |
| RL | Ralph Lauren Corporation | Consumer Cyclical | -5.3% | Group member |
| SW | Smurfit WestRock plc | Consumer Cyclical | -2.4% | 1/13 observed active sessions |
Why we believe this
Cohort
22 namesParticipation
59% this sessionObserved history
37 daily buildsFiling coverage
22/22 membersinput costs affecting expense
“Raw material costs are a significant component of the Company’s cost structure and are subject to volatility, including cost increases, significant disruptions to the Company's supply chains or significant shortages of materials.”
CSL 10-K
credit / rates affecting interest expense
“14 Table of Content s Interest Expense (in millions, except percentages) 2025 2024 Change % Interest expense $ 78.5 $ 73.3 $ 5.2 7.1 % Interest expense increased during 2025, primarily due to higher long-term debt balances associated with the 5.25% notes due September 15, 2035 (the "2035 Notes") and the 5.55% notes due September 15, 2040 (the "2040 Notes"), which were issued on August 20, 2025, partially offset by the redemption of $400.0 million of 3.50% notes in December 2024.”
CSL 10-K
This identity theme becomes less useful if activity narrows to one or two names instead of remaining broad across the cohort.
Connected, outside the group
PKG
PPGsupplier · Moving with the group now · 115 min observed
Filing receipt · PKG / PPG
“Packaging Coatings Specifically formulated coatings Metal cans, closures, and plastic and aluminum tubes for food, beverage and personal care, and promotional and specia…”
PPG · supplier
ROAD
VMCsupplier · Not moving with the group now
Filing receipt · ROAD / VMC
“In October 2025, we acquired eight HMA plants and related crews and equipment in the Houston, Texas metro area from affiliates of Vulcan Materials Company, and acquired…”
VMC · supplier
BXC
LPXsupplier · Not moving with the group now
Filing receipt · BXC / LPX
“With the strength of a locally focused sales force, we distribute a comprehensive range of products from suppliers that include some of the leading manufacturers in the…”
LPX · supplier
QXO
CSLsupplier · Not moving with the group now
Filing receipt · QXO / CSL
“Our largest suppliers include predominantly domestic companies such as Owens Corning, GAF, Carlisle Construction Materials, CertainTeed Roofing and Siding, IKO Manufactu…”
CSL · supplier
LII
AWIsupplier · Not moving with the group now
Filing receipt · LII / AWI
“The Allied Air Enterprise business and brands (“Armstrong Air,” “AirEase,” “Concord,” “Ducane,” “Allied,” and “MagicPak”) include a full line of heating, ventilation and…”
AWI · supplier
History
2026-07-07 → 2026-07-104 observed active sessions · 0% of active names held across the episode
2026-07-011 observed active session · 100% of active names held across the episode
2026-06-181 observed active session · 100% of active names held across the episode
2026-06-051 observed active session · 100% of active names held across the episode
2026-05-14 → 2026-05-204 observed active sessions · 0% of active names held across the episode
2026-05-071 observed active session · 100% of active names held across the episode
2026-04-301 observed active session · 100% of active names held across the episode