Traders Buy Shares of Service Co. International (SCI) on Weakness on Insider Selling

Investors 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 equities 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 Service Co. International stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $38.87, for a total value of $5,519,540.00. Following the transaction, the chief executive officer now directly owns 1,086,178 shares in the company, valued at approximately $42,219,738.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director W Blair Waltrip sold 1,400 shares of Service Co. International stock in a transaction on Thursday, June 14th. The stock was sold at an average price of $35.50, for a total value of $49,700.00. Following the completion of the transaction, the director now owns 666,244 shares in the company, valued at $23,651,662. The disclosure for this sale can be found here. Insiders sold a total of 782,619 shares of company stock worth $31,077,515 over the last 90 days. Insiders own 6.60% of the company’s stock.

A number of brokerages recently issued reports on SCI. Zacks Investment Research upgraded Service Co. International from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a report on Thursday, August 2nd. ValuEngine cut Service Co. International from a “buy” rating to a “hold” rating in a report on Friday, April 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Service Co. International currently has an average rating of “Buy” and an average price target of $44.20.

The company has a quick ratio of 0.51, a current ratio of 0.56 and a debt-to-equity ratio of 2.37. The firm has a market cap of $7.27 billion, a price-to-earnings ratio of 26.82, a price-to-earnings-growth ratio of 1.75 and a beta of 0.97.

Service Co. International (NYSE:SCI) last issued its quarterly earnings results on Monday, July 30th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Service Co. International had a return on equity of 23.37% and a net margin of 15.59%. The business had revenue of $796.09 million for the quarter, compared to the consensus estimate of $792.56 million. During the same quarter in the previous year, the company posted $0.35 earnings per share. Service Co. International’s revenue for the quarter was up 3.0% compared to the same quarter last year. sell-side analysts expect that Service Co. International will post 1.85 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be issued a dividend of $0.18 per share. This is an increase from Service Co. International’s previous quarterly dividend of $0.17. The ex-dividend date is Thursday, September 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.73%. Service Co. International’s payout ratio is currently 43.87%.

Several hedge funds have recently modified their holdings of SCI. Rhumbline Advisers grew its holdings in shares of Service Co. International by 1.2% during the first quarter. Rhumbline Advisers now owns 420,141 shares of the company’s stock valued at $15,856,000 after buying an additional 4,833 shares in the last quarter. Dupont Capital Management Corp purchased a new position in shares of Service Co. International during the first quarter valued at $4,099,000. CenterStar Asset Management LLC purchased a new position in shares of Service Co. International during the first quarter valued at $110,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Service Co. International during the first quarter valued at $3,467,000. Finally, Commerce Bank grew its holdings in shares of Service Co. International by 20.4% during the first quarter. Commerce Bank now owns 40,831 shares of the company’s stock valued at $1,541,000 after buying an additional 6,920 shares in the last quarter. Institutional investors and hedge funds own 87.65% of the company’s stock.

About Service Co. International (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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