Hillsdale Investment Management Inc. Purchases Shares of 56,086 Carriage Services, Inc. (NYSE:CSV)

Hillsdale Investment Management Inc. purchased a new stake in shares of Carriage Services, Inc. (NYSE:CSV) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 56,086 shares of the company’s stock, valued at approximately $1,517,000. Hillsdale Investment Management Inc. owned 0.37% of Carriage Services 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 the company. Vanguard Group Inc. grew its position in Carriage Services by 2.0% during the third quarter. Vanguard Group Inc. now owns 854,339 shares of the company’s stock valued at $24,135,000 after buying an additional 16,448 shares during the period. Values First Advisors Inc. lifted its stake in Carriage Services by 7.4% in the fourth quarter. Values First Advisors Inc. now owns 17,096 shares of the company’s stock worth $428,000 after purchasing an additional 1,185 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Carriage Services in the 4th quarter worth about $272,000. Linden Thomas Advisory Services LLC lifted its holdings in shares of Carriage Services by 21.5% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 9,479 shares of the company’s stock worth $237,000 after buying an additional 1,675 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Carriage Services by 23.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 210,891 shares of the company’s stock valued at $5,274,000 after buying an additional 39,525 shares during the period. 66.46% of the stock is owned by hedge funds and other institutional investors.

Carriage Services Trading Up 1.2 %

NYSE:CSV traded up $0.37 on Monday, hitting $30.39. 137,250 shares of the stock were exchanged, compared to its average volume of 109,867. The stock has a fifty day moving average of $27.41 and a 200-day moving average of $25.92. The company has a current ratio of 0.72, a quick ratio of 0.57 and a debt-to-equity ratio of 2.24. Carriage Services, Inc. has a fifty-two week low of $18.06 and a fifty-two week high of $34.11. The stock has a market cap of $460.71 million, a PE ratio of 14.97, a PEG ratio of 0.89 and a beta of 0.92.

Carriage Services (NYSE:CSV) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.16. Carriage Services had a net margin of 8.08% and a return on equity of 22.04%. The business had revenue of $103.49 million during the quarter, compared to the consensus estimate of $98.17 million. During the same quarter in the prior year, the firm earned $0.56 EPS. As a group, equities analysts expect that Carriage Services, Inc. will post 2.26 earnings per share for the current fiscal year.

Carriage Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 5th will be given a dividend of $0.1125 per share. This represents a $0.45 annualized dividend and a yield of 1.48%. The ex-dividend date is Monday, August 5th. Carriage Services’s payout ratio is presently 22.17%.

Analysts Set New Price Targets

CSV has been the subject of several recent research reports. 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. StockNews.com cut shares of Carriage Services from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, Roth Mkm reiterated a “buy” rating and set a $32.00 price target on shares of Carriage Services in a report on Wednesday, June 5th.

Insiders Place Their Bets

In other news, Director Charles Fargason acquired 2,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were bought at an average price of $28.40 per share, with a total value of $56,800.00. Following the acquisition, the director now owns 18,005 shares of the company’s stock, valued at $511,342. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Shawn R. Phillips sold 10,593 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $25.57, for a total value of $270,863.01. Following the completion of the sale, the vice president now owns 113,348 shares in the company, valued at $2,898,308.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles Fargason purchased 2,000 shares of Carriage Services stock in a transaction dated Monday, June 10th. The shares were purchased at an average cost of $28.40 per share, for a total transaction of $56,800.00. Following the completion of the transaction, the director now owns 18,005 shares of the company’s stock, valued at $511,342. The disclosure for this purchase can be found here. Insiders sold 15,318 shares of company stock valued at $406,452 over the last quarter. Insiders own 12.10% of the company’s stock.

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.