Shares of StoneMor Partners L.P. (NYSE:STON) have been assigned an average rating of “Hold” from the six ratings firms that are covering the firm. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $12.00.
A number of research analysts have weighed in on STON shares. Raymond James Financial, Inc. lowered StoneMor Partners L.P. from an “outperform” rating to a “market perform” rating in a report on Friday, October 28th. Zacks Investment Research upgraded StoneMor Partners L.P. from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 25th. Janney Montgomery Scott lowered StoneMor Partners L.P. from a “buy” rating to a “neutral” rating in a report on Friday, October 28th. Wunderlich decreased their price objective on StoneMor Partners L.P. from $15.00 to $11.00 and set a “hold” rating on the stock in a report on Wednesday, November 9th. Finally, Citigroup Inc. lowered StoneMor Partners L.P. to a “market perform” rating in a report on Friday, October 28th.
StoneMor Partners L.P. (NYSE:STON) opened at 10.52 on Tuesday. The company has a 50 day moving average of $10.39 and a 200-day moving average of $17.14. StoneMor Partners L.P. has a 12-month low of $7.74 and a 12-month high of $27.82. The stock’s market cap is $373.46 million.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 14th. Shareholders of record on Tuesday, February 7th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 12.55%. The ex-dividend date is Friday, February 3rd. StoneMor Partners L.P.’s dividend payout ratio (DPR) is presently -128.16%.
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In other StoneMor Partners L.P. news, CEO Lawrence Miller sold 3,260 shares of the firm’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $8.95, for a total value of $29,177.00. Following the completion of the sale, the chief executive officer now directly owns 134,295 shares of the company’s stock, valued at approximately $1,201,940.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired a total of 3,598 shares of company stock valued at $35,529 over the last ninety days. Corporate insiders own 9.80% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Stifel Financial Corp bought a new stake in shares of StoneMor Partners L.P. during the second quarter worth about $831,000. Global X Management Co. LLC increased its stake in shares of StoneMor Partners L.P. by 12.0% in the third quarter. Global X Management Co. LLC now owns 240,179 shares of the company’s stock worth $6,014,000 after buying an additional 25,826 shares during the period. JPMorgan Chase & Co. increased its stake in shares of StoneMor Partners L.P. by 20.4% in the second quarter. JPMorgan Chase & Co. now owns 119,182 shares of the company’s stock worth $2,985,000 after buying an additional 20,230 shares during the period. Bellwether Investment Group LLC bought a new stake in shares of StoneMor Partners L.P. during the second quarter worth about $416,000. Finally, Royal Bank of Canada increased its stake in shares of StoneMor Partners L.P. by 55.2% in the second quarter. Royal Bank of Canada now owns 38,213 shares of the company’s stock worth $957,000 after buying an additional 13,587 shares during the period. 10.29% of the stock is owned by institutional investors and hedge funds.
About StoneMor Partners L.P.
StoneMor Partners L.P. owns and operates cemeteries and funeral homes. The Company operates through two segments: Cemetery Operations and Funeral Homes. Its Cemetery Operations segment sells interment rights, caskets, burial vaults, cremation niches, markers and other cemetery related merchandise. Its Funeral Homes segment offers a range of services, including family consultation, final expense insurance products, the removal and preparation of remains, provision of caskets and related funeral merchandise, the use of funeral home facilities for visitation, worship and performance of funeral services, and transportation services.
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