Atlantic Union Bankshares Corp Purchases New Shares in Chemed Co. (NYSE:CHE)

Atlantic Union Bankshares Corp acquired a new position in Chemed Co. (NYSE:CHE) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,234 shares of the company’s stock, valued at approximately $1,755,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rise Advisors LLC bought a new position in shares of Chemed in the 1st quarter valued at about $26,000. GAMMA Investing LLC purchased a new position in shares of Chemed in the 4th quarter worth approximately $37,000. Principal Securities Inc. bought a new position in shares of Chemed during the 4th quarter valued at approximately $51,000. SRS Capital Advisors Inc. increased its position in shares of Chemed by 110.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 99 shares of the company’s stock valued at $58,000 after purchasing an additional 52 shares during the last quarter. Finally, Mather Group LLC. purchased a new stake in Chemed during the 1st quarter valued at $67,000. 95.85% of the stock is owned by hedge funds and other institutional investors.

Chemed Stock Up 0.1 %

CHE opened at $572.37 on Friday. The business has a fifty day moving average of $553.49 and a 200 day moving average of $580.63. Chemed Co. has a 52-week low of $492.84 and a 52-week high of $654.62. The stock has a market cap of $8.67 billion, a P/E ratio of 30.81, a PEG ratio of 2.40 and a beta of 0.43.

Chemed (NYSE:CHE) last issued its earnings results on Wednesday, July 24th. The company reported $5.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.59 by ($0.12). The company had revenue of $595.88 million for the quarter, compared to analysts’ expectations of $599.20 million. Chemed had a net margin of 12.88% and a return on equity of 29.21%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.71 earnings per share. Equities analysts anticipate 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. Shareholders of record on Monday, August 12th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. This is a boost from Chemed’s previous quarterly dividend of $0.40. The ex-dividend date is Monday, August 12th. Chemed’s dividend payout ratio is currently 10.76%.

Insider Activity

In related news, CEO Kevin J. Mcnamara sold 1,500 shares of Chemed stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $544.17, for a total transaction of $816,255.00. Following the transaction, the chief executive officer now directly owns 107,049 shares of the company’s stock, valued at $58,252,854.33. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Patrick P. Grace sold 284 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $540.98, for a total transaction of $153,638.32. Following the completion of the sale, the director now directly owns 3,270 shares in the company, valued at approximately $1,769,004.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kevin J. Mcnamara sold 1,500 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $544.17, for a total transaction of $816,255.00. Following the sale, the chief executive officer now directly owns 107,049 shares of the company’s stock, valued at $58,252,854.33. 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. Company insiders own 3.32% of the company’s stock.

Analyst Ratings Changes

CHE has been the subject of several recent analyst reports. Royal Bank of Canada dropped their price objective on shares of Chemed from $712.00 to $697.00 and set an “outperform” rating for the company in a research note on Tuesday, May 21st. StockNews.com upgraded shares of Chemed from a “hold” rating to a “buy” rating in a report on Saturday, May 4th.

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.