Rockland Trust Co. Acquires Shares of 1,000 Chemed Co. (NYSE:CHE)

Rockland Trust Co. acquired a new stake in Chemed Co. (NYSE:CHE) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,000 shares of the company’s stock, valued at approximately $543,000.

Other hedge funds have also recently modified their holdings of the company. TD Asset Management Inc boosted its stake in shares of Chemed by 23.9% during the 1st quarter. TD Asset Management Inc now owns 254,953 shares of the company’s stock valued at $163,662,000 after purchasing an additional 49,176 shares in the last quarter. Boston Trust Walden Corp boosted its stake in shares of Chemed by 5.2% during the 2nd quarter. Boston Trust Walden Corp now owns 221,440 shares of the company’s stock valued at $120,149,000 after purchasing an additional 11,036 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Chemed by 121.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 203,096 shares of the company’s stock valued at $118,760,000 after purchasing an additional 111,399 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Chemed by 19.7% during the 4th quarter. Victory Capital Management Inc. now owns 188,679 shares of the company’s stock valued at $110,330,000 after purchasing an additional 31,036 shares in the last quarter. Finally, Epoch Investment Partners Inc. boosted its stake in shares of Chemed by 20.1% during the 1st quarter. Epoch Investment Partners Inc. now owns 182,776 shares of the company’s stock valued at $117,329,000 after purchasing an additional 30,614 shares in the last quarter. Hedge funds and other institutional investors own 95.85% of the company’s stock.

Analysts Set New Price Targets

CHE has been the topic of a number of research reports. Royal Bank of Canada cut their target price on shares of Chemed from $712.00 to $697.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 21st. StockNews.com raised shares of Chemed from a “hold” rating to a “buy” rating in a research note on Saturday, May 4th.

Insider Transactions at Chemed

In other news, Director Patrick P. Grace sold 284 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $540.98, for a total value of $153,638.32. Following the transaction, the director now owns 3,270 shares in the company, valued at $1,769,004.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Patrick P. Grace sold 284 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $540.98, for a total value of $153,638.32. Following the transaction, the director now owns 3,270 shares in the company, valued at $1,769,004.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director George J. Walsh III sold 200 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $577.95, for a total transaction of $115,590.00. Following the completion of the transaction, the director now owns 3,446 shares in the company, valued at approximately $1,991,615.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,984 shares of company stock worth $3,347,903. Corporate insiders own 3.32% of the company’s stock.

Chemed Price Performance

NYSE:CHE traded down $3.99 during mid-day trading on Thursday, hitting $572.91. 9,019 shares of the company’s stock were exchanged, compared to its average volume of 86,870. Chemed Co. has a one year low of $492.84 and a one year high of $654.62. The business has a fifty day moving average price of $552.16 and a 200 day moving average price of $580.90. The company has a market cap of $8.67 billion, a PE ratio of 31.01, a P/E/G ratio of 2.40 and a beta of 0.43.

Chemed (NYSE:CHE) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $5.47 EPS for the quarter, missing the consensus estimate of $5.59 by ($0.12). Chemed had a return on equity of 29.21% and a net margin of 12.88%. The business had revenue of $595.88 million for the quarter, compared to the consensus estimate of $599.20 million. During the same period in the previous year, the firm earned $4.71 EPS. The company’s revenue was up 7.6% on a year-over-year basis. On average, equities analysts forecast that Chemed Co. will post 21.77 EPS for the current fiscal year.

Chemed Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Monday, August 12th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date is Monday, August 12th. This is an increase from Chemed’s previous quarterly dividend of $0.40. Chemed’s dividend payout ratio is currently 10.76%.

About Chemed

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 VITAS and Roto-Rooter segments. 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.