Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of construction and industrial materials maker Carlisle Cos. (NYSE: CSL) look downright flimsy today, as they're trading down as much as 11.7% on heavy volume.

So what: Carlisle's second-quarter beat analyst estimates in terms of sales but missed the Street's earnings targets by more than 4%. Facing higher prices on raw materials like rubber, resin, and oil, Carlisle tried to pass the costs on to its customers -- who sometimes responded by sending their orders elsewhere. "Increased raw material costs will continue to be a challenge through the remainder of 2011," CEO David Roberts said.

Now what: The company plans to grow by acquisition based on what Roberts calls a strong balance sheet, but I only see heavy debt and a soft cash position made worse by negative free cash flows. Exactly how Carlisle plans to fund its very reasonable dividends without taking on more debt or diluting your shares is beyond me. You might be better off investing in Carlisle rivals and five-star CAPS stocks Dover (NYSE: DOV) or RPM International (NYSE: RPM), both of whom also have Carlisle's dividend yield beat.

Interested in more info on Carlisle Cos.? Add it to your watchlist.

Fool contributor Anders Bylund holds no position in any of the companies discussed here. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool is investors writing for investors.