Melvin C. Payne Purchases 68,651 Shares of Carriage Services, Inc. (CSV) Stock

Carriage Services, Inc. (NYSE:CSV) CEO Melvin C. Payne purchased 68,651 shares of the firm’s stock in a transaction dated Thursday, November 8th. The stock was purchased at an average cost of $16.57 per share, for a total transaction of $1,137,547.07. Following the acquisition, the chief executive officer now owns 1,286,467 shares of the company’s stock, valued at approximately $21,316,758.19. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Shares of Carriage Services stock traded up $0.09 during trading on Friday, hitting $17.10. The stock had a trading volume of 76,506 shares, compared to its average volume of 160,049. The stock has a market cap of $308.75 million, a P/E ratio of 12.30, a PEG ratio of 0.92 and a beta of 0.55. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.01 and a current ratio of 1.24. Carriage Services, Inc. has a 12 month low of $14.57 and a 12 month high of $28.96.

Carriage Services (NYSE:CSV) last released its earnings results on Wednesday, October 31st. The company reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.08). The firm had revenue of $64.24 million during the quarter, compared to the consensus estimate of $64.79 million. Carriage Services had a net margin of 13.91% and a return on equity of 10.80%. Sell-side analysts predict that Carriage Services, Inc. will post 1.17 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Tuesday, November 13th will be paid a $0.075 dividend. The ex-dividend date is Friday, November 9th. This represents a $0.30 dividend on an annualized basis and a yield of 1.75%. Carriage Services’s dividend payout ratio is presently 21.58%.

CSV has been the topic of several research analyst reports. Barrington Research reaffirmed a “buy” rating and issued a $32.00 price target on shares of Carriage Services in a report on Thursday, August 2nd. TheStreet cut shares of Carriage Services from a “b-” rating to a “c+” rating in a report on Thursday, August 30th. ValuEngine cut shares of Carriage Services from a “hold” rating to a “sell” rating in a report on Monday, August 13th. Finally, Zacks Investment Research cut shares of Carriage Services from a “hold” rating to a “strong sell” rating in a report on Monday.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CSV. Campbell & CO Investment Adviser LLC bought a new position in Carriage Services in the second quarter valued at $218,000. Engineers Gate Manager LP bought a new position in Carriage Services in the second quarter valued at $241,000. First Trust Advisors LP increased its stake in Carriage Services by 18.8% in the second quarter. First Trust Advisors LP now owns 16,802 shares of the company’s stock valued at $412,000 after acquiring an additional 2,658 shares during the last quarter. Bessemer Group Inc. increased its stake in Carriage Services by 532.4% in the second quarter. Bessemer Group Inc. now owns 21,500 shares of the company’s stock valued at $528,000 after acquiring an additional 18,100 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in Carriage Services by 95.7% in the third quarter. Rhumbline Advisers now owns 28,236 shares of the company’s stock valued at $608,000 after acquiring an additional 13,805 shares during the last quarter. 79.19% of the stock is currently owned by institutional investors and hedge funds.

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About Carriage Services

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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