Redmond Asset Management LLC acquired a new stake in shares of Carriage Services, Inc. (NYSE:CSV) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 25,811 shares of the company’s stock, valued at approximately $634,000. Redmond Asset Management LLC owned 0.16% of Carriage Services at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. MetLife Investment Advisors LLC purchased a new stake in shares of Carriage Services during the 4th quarter worth approximately $193,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Carriage Services during the 2nd quarter worth approximately $218,000. GW&K Investment Management LLC purchased a new stake in shares of Carriage Services during the 1st quarter worth approximately $231,000. Engineers Gate Manager LP purchased a new stake in shares of Carriage Services during the 2nd quarter worth approximately $241,000. Finally, Bailard Inc. purchased a new stake in shares of Carriage Services during the 1st quarter worth approximately $313,000. Institutional investors own 82.97% of the company’s stock.
Several analysts have recently issued reports on CSV shares. ValuEngine cut Carriage Services from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Zacks Investment Research cut Carriage Services from a “hold” rating to a “sell” rating in a report on Friday, April 27th. Finally, Barrington Research reaffirmed a “buy” rating on shares of Carriage Services in a report on Friday, June 8th.
NYSE CSV opened at $23.55 on Tuesday. The company has a market cap of $448.18 million, a PE ratio of 16.94, a P/E/G ratio of 1.16 and a beta of 0.55. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.36 and a current ratio of 2.62. Carriage Services, Inc. has a fifty-two week low of $22.16 and a fifty-two week high of $28.96.
Carriage Services (NYSE:CSV) last released its earnings results on Wednesday, August 1st. The company reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.15). The company had revenue of $63.00 million for the quarter, compared to the consensus estimate of $69.16 million. Carriage Services had a net margin of 14.40% and a return on equity of 12.49%. equities analysts expect that Carriage Services, Inc. will post 1.34 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 4th. Stockholders of record on Tuesday, August 14th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Monday, August 13th. Carriage Services’s dividend payout ratio is currently 21.58%.
In other news, COO Mark R. Bruce sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, June 11th. The stock was sold at an average price of $25.15, for a total transaction of $88,025.00. Following the transaction, the chief operating officer now owns 15,551 shares of the company’s stock, valued at approximately $391,107.65. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Donald Douglas Patteson, Jr. bought 4,000 shares of the business’s stock in a transaction dated Monday, August 20th. The shares were bought at an average cost of $23.25 per share, for a total transaction of $93,000.00. Following the transaction, the director now owns 51,431 shares in the company, valued at approximately $1,195,770.75. The disclosure for this purchase can be found here. Insiders own 13.60% of the company’s stock.
Carriage Services Company Profile
Carriage Services, Inc provides funeral and cemetery services, and merchandise in the United States. It operates through two segments, Funeral Home Operations and Cemetery Operations. The Funeral Home Operations segment offers burial, cremation, and consultation services; removes and prepares remains; sells caskets, urns, and related funeral merchandise; and enables the use of funeral home facilities for visitation, remembrance, and transportation services.
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