Amalgamated Bank cut its holdings in Chemed Co. (NYSE:CHE – Get Rating) by 2.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,317 shares of the company’s stock after selling 285 shares during the period. Amalgamated Bank owned approximately 0.08% of Chemed worth $5,733,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new position in shares of Chemed in the fourth quarter valued at about $32,000. UMB Bank N A MO increased its position in shares of Chemed by 347.1% in the first quarter. UMB Bank N A MO now owns 76 shares of the company’s stock valued at $39,000 after acquiring an additional 59 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of Chemed in the first quarter valued at about $46,000. Signaturefd LLC increased its position in shares of Chemed by 69.6% in the first quarter. Signaturefd LLC now owns 95 shares of the company’s stock valued at $48,000 after acquiring an additional 39 shares during the period. Finally, Meeder Asset Management Inc. purchased a new position in shares of Chemed in the first quarter valued at about $75,000. 90.42% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Separately, Royal Bank of Canada decreased their price objective on shares of Chemed from $592.00 to $541.00 and set an “outperform” rating on the stock in a research report on Monday, August 1st.
Chemed Price Performance
Chemed (NYSE:CHE – Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $4.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.78 by $0.06. Chemed had a net margin of 12.95% and a return on equity of 44.64%. The company had revenue of $531.29 million for the quarter, compared to analysts’ expectations of $538.07 million. During the same quarter in the previous year, the company earned $4.60 earnings per share. Chemed’s quarterly revenue was down .2% on a year-over-year basis. On average, sell-side analysts expect that Chemed Co. will post 18.72 earnings per share for the current year.
Chemed Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, September 2nd. Investors of record on Monday, August 15th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, August 12th. This represents a $1.52 annualized dividend and a dividend yield of 0.32%. This is a boost from Chemed’s previous quarterly dividend of $0.36. Chemed’s payout ratio is currently 8.45%.
Insider Activity at Chemed
In related news, CEO Kevin J. Mcnamara sold 3,000 shares of the business’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $481.93, for a total transaction of $1,445,790.00. Following the transaction, the chief executive officer now owns 125,185 shares in the company, valued at $60,330,407.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Chemed news, CEO Kevin J. Mcnamara sold 2,000 shares of the company’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $474.13, for a total value of $948,260.00. Following the sale, the chief executive officer now owns 124,235 shares in the company, valued at $58,903,540.55. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kevin J. Mcnamara sold 3,000 shares of the company’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $481.93, for a total transaction of $1,445,790.00. Following the completion of the sale, the chief executive officer now owns 125,185 shares in the company, valued at approximately $60,330,407.05. The disclosure for this sale can be found here. 4.03% of the stock is owned by corporate insiders.
Chemed Corporation provides hospice and palliative care services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers primarily in the United States. The company operates in two segments, VITAS and Roto-Rooter. It offers plumbing, drain cleaning, excavation, water restoration, and other related services to residential and commercial customers through company-owned branches, independent contractors, and franchisees.
- Get a free copy of the StockNews.com research report on Chemed (CHE)
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