LSV Asset Management Purchases 57,500 Shares of Carriage Services, Inc. (NYSE:CSV)

Key Points

• LSV Asset Management increased its stake in Carriage Services, Inc. by 9.7%, acquiring an additional 57,500 shares, bringing its total ownership to 648,417 shares valued at approximately $25.1 million.
• Several hedge funds, including MetLife Investment Management LLC and Barclays PLC, have also raised their stakes in Carriage Services, with institutional investors now owning 66.46% of the company.
• Carriage Services recently declared a quarterly dividend of $0.1125, reflecting a 1.0% yield with a payout ratio of 15.05%.

LSV Asset Management lifted its position in shares of Carriage Services, Inc. (NYSE:CSV - Free Report) by 9.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 648,417 shares of the company's stock after purchasing an additional 57,500 shares during the quarter. LSV Asset Management owned 4.14% of Carriage Services worth $25,126,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Carriage Services by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 734,828 shares of the company's stock worth $29,283,000 after purchasing an additional 9,080 shares during the period. Geode Capital Management LLC lifted its position in Carriage Services by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 315,936 shares of the company's stock valued at $12,593,000 after buying an additional 1,072 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Carriage Services by 16.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 237,228 shares of the company's stock valued at $9,454,000 after buying an additional 34,342 shares during the period. De Lisle Partners LLP lifted its position in shares of Carriage Services by 48.4% during the first quarter. De Lisle Partners LLP now owns 184,101 shares of the company's stock worth $7,148,000 after purchasing an additional 60,030 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Carriage Services by 12.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 168,079 shares of the company's stock valued at $6,513,000 after purchasing an additional 18,130 shares during the last quarter. 66.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CSV shares. Wall Street Zen downgraded Carriage Services from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Barrington Research reissued an "outperform" rating and set a $50.00 price target on shares of Carriage Services in a report on Wednesday, July 30th. Finally, Roth Mkm reaffirmed a "buy" rating and issued a $51.00 price target (up from $48.00) on shares of Carriage Services in a report on Friday, May 2nd.

Insider Activity at Carriage Services

In other Carriage Services news, President Steven D. Metzger sold 3,000 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $40.60, for a total transaction of $121,800.00. Following the sale, the president directly owned 75,897 shares in the company, valued at $3,081,418.20. This represents a 3.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is owned by insiders.

Carriage Services Stock Performance

CSV traded up $0.11 during midday trading on Tuesday, hitting $45.59. 73,467 shares of the company traded hands, compared to its average volume of 69,639. The company has a quick ratio of 0.80, a current ratio of 0.95 and a debt-to-equity ratio of 2.35. The firm has a market capitalization of $715.31 million, a PE ratio of 15.25, a price-to-earnings-growth ratio of 0.96 and a beta of 0.83. The company's 50-day moving average is $45.23 and its 200 day moving average is $41.75. Carriage Services, Inc. has a 52 week low of $28.78 and a 52 week high of $47.48.

Carriage Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 4th will be paid a $0.1125 dividend. The ex-dividend date is Monday, August 4th. This represents a $0.45 dividend on an annualized basis and a dividend yield of 1.0%. Carriage Services's dividend payout ratio is presently 15.05%.

Carriage Services 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.