Bank of New York Mellon Corp Raises Stock Position in Carriage Services, Inc. (NYSE:CSV)

Bank of New York Mellon Corp raised its holdings in Carriage Services, Inc. (NYSE:CSV) by 10.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 141,262 shares of the company’s stock after purchasing an additional 13,598 shares during the quarter. Bank of New York Mellon Corp owned 0.93% of Carriage Services worth $3,791,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CSV. Charles Schwab Investment Management Inc. grew its stake in shares of Carriage Services by 23.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 210,891 shares of the company’s stock worth $5,274,000 after purchasing an additional 39,525 shares during the period. Jump Financial LLC acquired a new stake in Carriage Services during the fourth quarter valued at $347,000. Parallel Advisors LLC acquired a new position in shares of Carriage Services in the fourth quarter worth about $38,000. Mill Road Capital Management LLC boosted its stake in shares of Carriage Services by 5.2% during the 4th quarter. Mill Road Capital Management LLC now owns 179,466 shares of the company’s stock worth $4,488,000 after acquiring an additional 8,800 shares in the last quarter. Finally, Harbert Fund Advisors Inc. grew its position in shares of Carriage Services by 31.5% during the 4th quarter. Harbert Fund Advisors Inc. now owns 208,497 shares of the company’s stock valued at $5,215,000 after acquiring an additional 50,000 shares during the period. 66.46% of the stock is owned by institutional investors and hedge funds.

Carriage Services Stock Up 2.0 %

CSV stock opened at $33.02 on Friday. Carriage Services, Inc. has a 52 week low of $18.06 and a 52 week high of $35.00. The company has a quick ratio of 0.69, a current ratio of 0.85 and a debt-to-equity ratio of 2.14. The firm has a 50-day simple moving average of $30.83 and a 200-day simple moving average of $27.82. The stock has a market capitalization of $502.23 million, a P/E ratio of 16.27, a P/E/G ratio of 0.91 and a beta of 0.94.

Carriage Services (NYSE:CSV) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.53 by $0.10. The company had revenue of $102.32 million during the quarter, compared to analyst estimates of $94.40 million. Carriage Services had a return on equity of 21.99% and a net margin of 7.47%. Equities analysts forecast that Carriage Services, Inc. will post 2.34 earnings per share for the current fiscal year.

Carriage Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 5th were issued a $0.1125 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $0.45 dividend on an annualized basis and a yield of 1.36%. Carriage Services’s payout ratio is currently 22.17%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Barrington Research reiterated an “outperform” rating and set a $38.00 price target on shares of Carriage Services in a research report on Tuesday, May 28th. Roth Mkm reiterated a “buy” rating and set a $40.00 target price (up previously from $32.00) on shares of Carriage Services in a research report on Friday, August 2nd.

Insiders Place Their Bets

In related news, SVP Shane Pudenz sold 1,443 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $27.30, for a total transaction of $39,393.90. Following the completion of the sale, the senior vice president now owns 13,460 shares of the company’s stock, valued at approximately $367,458. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Carlos R. Quezada purchased 2,000 shares of Carriage Services stock in a transaction dated Tuesday, August 6th. The shares were acquired at an average price of $29.44 per share, for a total transaction of $58,880.00. Following the acquisition, the chief executive officer now directly owns 60,061 shares in the company, valued at $1,768,195.84. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, SVP Shane Pudenz sold 1,443 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $27.30, for a total transaction of $39,393.90. Following the completion of the sale, the senior vice president now directly owns 13,460 shares of the company’s stock, valued at approximately $367,458. The disclosure for this sale can be found here. Insiders have sold a total of 13,544 shares of company stock valued at $401,074 in the last 90 days. 12.10% of the stock is owned by insiders.

Carriage Services Company Profile

Carriage Services, Inc provides funeral and cemetery services, and merchandise in the United States. It operates in two segments, Funeral Home Operations and Cemetery Operations. The Funeral Home Operations segment provides consultation services; funeral home facilities for visitation and memorial services; transportation services; removal and preparation of remains; sale of caskets and urns; cremation services; and related funeral merchandise.