Investors Buy Shares of Service Co. International (SCI) on Weakness on Insider Selling
Traders bought shares of Service Co. International (NYSE:SCI) on weakness during trading hours on Thursday after an insider sold shares in the company. $30.09 million flowed into the stock on the tick-up and $5.98 million flowed out of the stock on the tick-down, for a money net flow of $24.11 million into the stock. Of all stocks tracked, Service Co. International had the 10th highest net in-flow for the day. Service Co. International traded down ($0.13) for the day and closed at $41.50Specifically, CEO Thomas L. Ryan sold 142,000 shares of the company’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $38.87, for a total transaction of $5,519,540.00. Following the transaction, the chief executive officer now owns 1,086,178 shares in the company, valued at $42,219,738.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director W Blair Waltrip sold 1,400 shares of the company’s stock in a transaction dated Thursday, June 14th. The shares were sold at an average price of $35.50, for a total transaction of $49,700.00. Following the transaction, the director now owns 666,244 shares in the company, valued at approximately $23,651,662. The disclosure for this sale can be found here. Insiders have sold 782,619 shares of company stock worth $31,077,515 in the last quarter. Company insiders own 6.60% of the company’s stock.
Several equities analysts have recently weighed in on SCI shares. Zacks Investment Research lowered shares of Service Co. International from a “buy” rating to a “hold” rating in a report on Wednesday, April 25th. ValuEngine lowered shares of Service Co. International from a “buy” rating to a “hold” rating in a report on Friday, April 27th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $44.20.
The company has a current ratio of 0.56, a quick ratio of 0.51 and a debt-to-equity ratio of 2.37. The firm has a market capitalization of $7.27 billion, a price-to-earnings ratio of 26.95, a PEG ratio of 1.75 and a beta of 0.97.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Thursday, September 13th. This is a positive change from Service Co. International’s previous quarterly dividend of $0.17. Service Co. International’s dividend payout ratio is currently 43.87%.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Service Co. International by 15.9% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,715 shares of the company’s stock worth $442,000 after acquiring an additional 1,609 shares during the last quarter. Sciencast Management LP acquired a new stake in shares of Service Co. International in the 1st quarter worth about $1,274,000. Allianz Asset Management GmbH raised its holdings in shares of Service Co. International by 30.5% in the 1st quarter. Allianz Asset Management GmbH now owns 1,291,491 shares of the company’s stock worth $48,742,000 after acquiring an additional 301,932 shares during the last quarter. Cerebellum GP LLC acquired a new stake in shares of Service Co. International in the 2nd quarter worth about $176,000. Finally, Sit Investment Associates Inc. raised its holdings in shares of Service Co. International by 1.5% in the 2nd quarter. Sit Investment Associates Inc. now owns 120,550 shares of the company’s stock worth $4,314,000 after acquiring an additional 1,800 shares during the last quarter. Institutional investors own 87.65% of the company’s stock.
Service Co. International Company Profile (NYSE:SCI)
Service Corporation International provides deathcare products and services in the United States and Canada. The company operates through Funeral and Cemetery segments. Its funeral service and cemetery operations comprise funeral service locations, cemeteries, funeral service/cemetery combination locations, crematoria, and other businesses.
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