8 Knots Management LLC Invests $7 Million in Service Corporation International $SCI

8 Knots Management LLC purchased a new stake in shares of Service Corporation International (NYSE:SCI) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 84,062 shares of the company’s stock, valued at approximately $6,996,000. Service Corporation International comprises approximately 0.8% of 8 Knots Management LLC’s holdings, making the stock its 17th biggest position. 8 Knots Management LLC owned approximately 0.06% of Service Corporation International as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in SCI. Horizon Investments LLC acquired a new position in Service Corporation International during the third quarter worth $1,969,000. Marshall Wace LLP raised its holdings in Service Corporation International by 31.8% during the third quarter. Marshall Wace LLP now owns 549,162 shares of the company’s stock valued at $45,701,000 after buying an additional 132,591 shares in the last quarter. Neo Ivy Capital Management lifted its position in shares of Service Corporation International by 2,203.4% in the third quarter. Neo Ivy Capital Management now owns 9,536 shares of the company’s stock worth $794,000 after buying an additional 9,122 shares during the last quarter. Strive Asset Management LLC acquired a new stake in shares of Service Corporation International in the third quarter worth about $832,000. Finally, Advisors Preferred LLC bought a new stake in shares of Service Corporation International during the 3rd quarter worth about $236,000. Institutional investors own 85.53% of the company’s stock.

Service Corporation International Price Performance

Shares of NYSE:SCI opened at $79.60 on Friday. The company has a market cap of $11.08 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 1.76 and a beta of 1.00. The business has a 50 day moving average price of $81.24 and a 200 day moving average price of $80.38. The company has a quick ratio of 0.50, a current ratio of 0.55 and a debt-to-equity ratio of 3.10. Service Corporation International has a twelve month low of $71.75 and a twelve month high of $86.67.

Service Corporation International (NYSE:SCI) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $1.14 EPS for the quarter, hitting the consensus estimate of $1.14. Service Corporation International had a return on equity of 34.21% and a net margin of 12.59%.The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the business posted $1.06 EPS. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. Research analysts predict that Service Corporation International will post 3.84 earnings per share for the current year.

Service Corporation International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.7%. This is an increase from Service Corporation International’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, March 13th. Service Corporation International’s payout ratio is presently 35.79%.

Insider Buying and Selling at Service Corporation International

In other Service Corporation International news, CAO Tammy R. Moore sold 5,000 shares of the firm’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $80.48, for a total value of $402,400.00. Following the sale, the chief accounting officer directly owned 21,654 shares in the company, valued at $1,742,713.92. This trade represents a 18.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Tony Coelho sold 7,700 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $79.87, for a total transaction of $614,999.00. Following the completion of the sale, the director owned 28,388 shares in the company, valued at $2,267,349.56. This represents a 21.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 4.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SCI shares. JPMorgan Chase & Co. began coverage on Service Corporation International in a report on Tuesday, January 20th. They set an “overweight” rating and a $110.00 price objective on the stock. Weiss Ratings upgraded Service Corporation International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 2nd. Finally, Wall Street Zen cut Service Corporation International from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $96.50.

About Service Corporation International

Service Corporation International (NYSE: SCI) is a leading provider of funeral, cremation and cemetery services in North America. Through its network of funeral homes, cemeteries, memorial parks and crematoria, the company offers a broad array of end-of-life services, including traditional funeral ceremonies, memorialization, burial and cremation. In addition to core services, SCI provides grief counseling, pre-need planning and merchandise such as caskets, vaults, urns and memorialization products.

Headquartered in Houston, Texas, Service Corporation International operates more than 1,900 funeral homes, over 450 cemeteries and 40 combination facilities across the United States and Canada.