Ajo LP Raises Stake in Chemed Corp. (CHE)
Ajo LP boosted its position in Chemed Corp. (NYSE:CHE) by 456.7% during the second quarter, Holdings Channel reports. The firm owned 8,891 shares of the company’s stock after buying an additional 7,294 shares during the period. Ajo LP owned approximately 0.05% of Chemed Corp. worth $1,212,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in CHE. Norges Bank purchased a new position in Chemed Corp. during the fourth quarter worth about $40,455,000. Apex Capital Management increased its position in Chemed Corp. by 18.6% in the first quarter. Apex Capital Management now owns 130,220 shares of the company’s stock worth $17,638,000 after buying an additional 20,440 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position in Chemed Corp. by 6.6% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 5,636 shares of the company’s stock worth $763,000 after buying an additional 350 shares in the last quarter. BlackRock Inc. increased its position in Chemed Corp. by 90.4% in the first quarter. BlackRock Inc. now owns 1,152 shares of the company’s stock worth $156,000 after buying an additional 547 shares in the last quarter. Finally, BlackRock Group LTD increased its position in Chemed Corp. by 7.2% in the first quarter. BlackRock Group LTD now owns 22,610 shares of the company’s stock worth $3,062,000 after buying an additional 1,514 shares in the last quarter. Hedge funds and other institutional investors own 98.62% of the company’s stock.
Shares of Chemed Corp. (NYSE:CHE) traded up 0.21% during midday trading on Wednesday, reaching $138.54. 36,782 shares of the company traded hands. The firm has a market capitalization of $2.24 billion, a PE ratio of 21.97 and a beta of 1.14. The company has a 50-day moving average of $137.44 and a 200 day moving average of $135.33. Chemed Corp. has a 12-month low of $124.77 and a 12-month high of $160.12.
Chemed Corp. (NYSE:CHE) last announced its quarterly earnings results on Monday, July 25th. The company reported $1.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.08. The business earned $290 million during the quarter, compared to analysts’ expectations of $393.50 million. Chemed Corp. had a net margin of 6.93% and a return on equity of 24.12%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.71 EPS. On average, equities analysts forecast that Chemed Corp. will post $7.25 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 2nd. Shareholders of record on Monday, August 15th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.75%. This is a boost from Chemed Corp.’s previous quarterly dividend of $0.24. Chemed Corp.’s dividend payout ratio is presently 16.51%.
A number of equities analysts have recently commented on CHE shares. Zacks Investment Research upgraded shares of Chemed Corp. from a “hold” rating to a “buy” rating and set a $167.00 price objective for the company in a research note on Thursday, July 28th. JMP Securities restated a “hold” rating on shares of Chemed Corp. in a research note on Sunday, September 4th. RBC Capital Markets restated a “sector perform” rating and set a $162.00 price objective (up from $136.00) on shares of Chemed Corp. in a research note on Wednesday, July 27th. Finally, Royal Bank Of Canada increased their price objective on shares of Chemed Corp. from $136.00 to $162.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 27th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $159.00.
In other news, Director Donald E. Saunders sold 500 shares of the firm’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $144.32, for a total value of $72,160.00. Following the completion of the sale, the director now directly owns 10,786 shares of the company’s stock, valued at approximately $1,556,635.52. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Arthur V. Tucker, Jr. sold 3,089 shares of the firm’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $143.88, for a total transaction of $444,445.32. Following the completion of the sale, the vice president now directly owns 3,234 shares of the company’s stock, valued at $465,307.92. The disclosure for this sale can be found here. Company insiders own 5.32% of the company’s stock.
Chemed Corp. Company Profile
Chemed Corporation operates and divests subsidiaries engaged in diverse business activities. The Company operates its business in two segments: the VITAS segment (VITAS) and the Roto-Rooter segment (Roto-Rooter). The Company’s VITAS segment provides hospice and palliative care services to its patients through a network of physicians, registered nurses, home health aides, social workers, clergy and volunteers.
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