Cadence Capital Management LLC increased its position in Carriage Services, Inc. (NYSE:CSV) by 5.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,527 shares of the company’s stock after buying an additional 2,356 shares during the period. Cadence Capital Management LLC owned 0.25% of Carriage Services worth $1,147,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of the company. Legal & General Group Plc increased its position in Carriage Services by 0.8% in the first quarter. Legal & General Group Plc now owns 4,044 shares of the company’s stock worth $110,000 after buying an additional 31 shares in the last quarter. Baker Ellis Asset Management LLC increased its position in shares of Carriage Services by 2.5% in the second quarter. Baker Ellis Asset Management LLC now owns 6,150 shares of the company’s stock worth $166,000 after buying an additional 150 shares in the last quarter. Trexquant Investment LP acquired a new position in shares of Carriage Services during the second quarter worth approximately $202,000. Karp Capital Management Corp acquired a new position in shares of Carriage Services during the first quarter worth approximately $245,000. Finally, American International Group Inc. increased its position in shares of Carriage Services by 7.1% in the first quarter. American International Group Inc. now owns 9,107 shares of the company’s stock worth $247,000 after buying an additional 606 shares in the last quarter. 86.93% of the stock is currently owned by institutional investors.
Shares of Carriage Services, Inc. (CSV) opened at 24.39 on Friday. Carriage Services, Inc. has a 12-month low of $22.53 and a 12-month high of $29.11. The company’s 50-day moving average is $25.22 and its 200-day moving average is $26.37. The firm has a market capitalization of $407.80 million, a price-to-earnings ratio of 20.65 and a beta of 0.92.
Carriage Services (NYSE:CSV) last released its earnings results on Wednesday, July 26th. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.40 by $0.10. Carriage Services had a net margin of 8.35% and a return on equity of 15.25%. The firm had revenue of $63.87 million during the quarter, compared to the consensus estimate of $64.35 million. During the same period in the prior year, the business posted $0.37 earnings per share. Carriage Services’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, equities analysts forecast that Carriage Services, Inc. will post $1.62 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 14th will be paid a $0.05 dividend. The ex-dividend date is Thursday, August 10th. This represents a $0.20 annualized dividend and a dividend yield of 0.82%. Carriage Services’s dividend payout ratio is presently 16.95%.
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A number of equities analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Carriage Services from a “hold” rating to a “strong sell” rating in a research note on Monday, July 31st. BidaskClub downgraded shares of Carriage Services from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $82.00 target price on shares of Carriage Services in a research note on Monday, June 12th.
In other Carriage Services news, CEO Melvin C. Payne sold 100,000 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $23.85, for a total transaction of $2,385,000.00. Following the completion of the sale, the chief executive officer now owns 1,131,753 shares of the company’s stock, valued at approximately $26,992,309.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 13.40% of the stock is currently owned by company insiders.
About Carriage Services
Carriage Services, Inc is a provider of death care services and merchandise in the United States. The Company operates in two business segments: Funeral Home Operations and Cemetery Operations. The Funeral Homes segment provides funeral services (traditional burial and cremation) and sells related merchandise, such as caskets and urns.
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