Penn Mutual Asset Management Buys New Stake in Carriage Services, Inc. (NYSE:CSV)

Penn Mutual Asset Management acquired a new position in shares of Carriage Services, Inc. (NYSE:CSV - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 13,200 shares of the company's stock, valued at approximately $433,000. Penn Mutual Asset Management owned 0.09% of Carriage Services as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its stake in Carriage Services by 7.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,475 shares of the company's stock worth $284,000 after purchasing an additional 746 shares in the last quarter. Linden Thomas Advisory Services LLC grew its holdings in Carriage Services by 10.1% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 18,861 shares of the company's stock worth $506,000 after acquiring an additional 1,727 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Carriage Services by 201.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 229,718 shares of the company's stock valued at $6,166,000 after purchasing an additional 153,538 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Carriage Services by 10.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 141,262 shares of the company's stock valued at $3,791,000 after purchasing an additional 13,598 shares during the last quarter. Finally, nVerses Capital LLC boosted its stake in shares of Carriage Services by 550.0% in the 2nd quarter. nVerses Capital LLC now owns 1,300 shares of the company's stock valued at $35,000 after purchasing an additional 1,100 shares during the last quarter. Institutional investors own 66.46% of the company's stock.

Carriage Services Stock Performance

Shares of Carriage Services stock traded up $0.13 during trading hours on Wednesday, reaching $40.55. The company had a trading volume of 45,968 shares, compared to its average volume of 104,503. Carriage Services, Inc. has a one year low of $22.84 and a one year high of $40.91. The business has a fifty day simple moving average of $35.39 and a 200 day simple moving average of $31.67. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.72 and a quick ratio of 0.59. The firm has a market cap of $617.29 million, a PE ratio of 18.09, a price-to-earnings-growth ratio of 1.08 and a beta of 0.93.

Carriage Services (NYSE:CSV - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.19. The firm had revenue of $100.69 million during the quarter, compared to analyst estimates of $93.49 million. Carriage Services had a return on equity of 23.52% and a net margin of 8.57%. During the same quarter in the previous year, the company posted $0.33 earnings per share. On average, analysts anticipate that Carriage Services, Inc. will post 2.5 earnings per share for the current fiscal year.

Carriage Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 4th were given a $0.1125 dividend. The ex-dividend date was Monday, November 4th. This represents a $0.45 dividend on an annualized basis and a dividend yield of 1.11%. Carriage Services's dividend payout ratio is currently 20.18%.

Insider Activity at Carriage Services

In other news, VP Paul Donald Elliott sold 5,000 shares of the company's stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $37.78, for a total value of $188,900.00. Following the completion of the sale, the vice president now directly owns 34,166 shares in the company, valued at $1,290,791.48. This represents a 12.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 12.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, Barrington Research upped their price objective on shares of Carriage Services from $39.00 to $45.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st.

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.