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 increased its position in shares of Carriage Services, Inc. (NYSE:CSV - Free Report) by 9.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 648,417 shares of the company's stock after acquiring an additional 57,500 shares during the period. LSV Asset Management owned about 4.14% of Carriage Services worth $25,126,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CSV. New York State Teachers Retirement System acquired a new position in shares of Carriage Services in the 1st quarter valued at about $48,000. MQS Management LLC purchased a new stake in shares of Carriage Services in the first quarter worth approximately $621,000. Two Sigma Advisers LP grew its holdings in shares of Carriage Services by 15.0% in the fourth quarter. Two Sigma Advisers LP now owns 115,100 shares of the company's stock valued at $4,587,000 after acquiring an additional 15,000 shares in the last quarter. Franklin Resources Inc. bought a new position in shares of Carriage Services in the fourth quarter valued at approximately $342,000. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Carriage Services by 16.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 237,228 shares of the company's stock valued at $9,454,000 after acquiring an additional 34,342 shares in the last quarter. 66.46% of the stock is owned by institutional investors and hedge funds.

Carriage Services Price Performance

NYSE CSV traded up $1.63 during trading on Thursday, reaching $47.84. The company's stock had a trading volume of 172,615 shares, compared to its average volume of 112,891. The firm has a fifty day moving average of $45.33 and a 200 day moving average of $41.81. Carriage Services, Inc. has a one year low of $29.21 and a one year high of $48.41. The company has a debt-to-equity ratio of 2.35, a current ratio of 0.95 and a quick ratio of 0.80. The stock has a market capitalization of $750.75 million, a PE ratio of 16.08, a P/E/G ratio of 0.96 and a beta of 0.83.

Carriage Services (NYSE:CSV - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.72 by $0.02. The firm had revenue of $102.15 million for the quarter, compared to the consensus estimate of $101.36 million. Carriage Services had a return on equity of 21.96% and a net margin of 11.50%. Analysts expect that Carriage Services, Inc. will post 2.5 EPS for the current fiscal year.

Carriage Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 4th will be given a $0.1125 dividend. This represents a $0.45 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, August 4th. Carriage Services's payout ratio is currently 15.05%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wall Street Zen lowered Carriage Services from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Barrington Research reaffirmed an "outperform" rating and issued 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.

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.