Machina Capital S.A.S. Takes $381,000 Position in Chemed Corporation (NYSE:CHE)

Key Points

• Machina Capital S.A.S. has invested approximately $381,000 in Chemed Corporation by acquiring 619 shares during the first quarter.
• Certain financial analysts have downgraded Chemed's stock ratings, with Wall Street Zen changing its stance from "buy" to "hold." Royal Bank of Canada maintains an "outperform" rating but has slightly lowered its price objective.
• Chemed Corporation recently announced a $0.50 dividend per share, which represents an annualized dividend yield of 0.43% and a payout ratio of 9.74%.

Machina Capital S.A.S. acquired a new position in Chemed Corporation (NYSE:CHE - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 619 shares of the company's stock, valued at approximately $381,000.

A number of other institutional investors have also made changes to their positions in the business. Alpine Bank Wealth Management acquired a new position in Chemed in the 1st quarter valued at approximately $29,000. HM Payson & Co. bought a new stake in shares of Chemed in the 1st quarter valued at approximately $30,000. Whipplewood Advisors LLC grew its stake in shares of Chemed by 54.5% in the 1st quarter. Whipplewood Advisors LLC now owns 51 shares of the company's stock valued at $31,000 after purchasing an additional 18 shares during the period. Brown Brothers Harriman & Co. grew its stake in shares of Chemed by 633.3% in the 4th quarter. Brown Brothers Harriman & Co. now owns 88 shares of the company's stock valued at $47,000 after purchasing an additional 76 shares during the period. Finally, Versant Capital Management Inc grew its stake in shares of Chemed by 600.0% in the 1st quarter. Versant Capital Management Inc now owns 98 shares of the company's stock valued at $60,000 after purchasing an additional 84 shares during the period. 95.85% of the stock is currently owned by institutional investors.

Chemed Trading Up 1.3%

NYSE CHE traded up $6.06 during trading hours on Friday, reaching $469.08. 142,706 shares of the company's stock were exchanged, compared to its average volume of 184,667. The stock has a market cap of $6.86 billion, a PE ratio of 22.85, a price-to-earnings-growth ratio of 2.26 and a beta of 0.50. Chemed Corporation has a one year low of $449.01 and a one year high of $623.60. The firm has a fifty day moving average of $522.47 and a 200-day moving average of $555.97.

Chemed (NYSE:CHE - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $5.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.59 by $0.04. Chemed had a return on equity of 27.58% and a net margin of 12.40%. The firm had revenue of $646.94 million for the quarter, compared to the consensus estimate of $641.78 million. During the same quarter in the prior year, the business earned $5.20 EPS. The business's revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, research analysts forecast that Chemed Corporation will post 21.43 EPS for the current year.

Chemed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Thursday, May 29th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.43%. The ex-dividend date was Thursday, May 29th. Chemed's dividend payout ratio is 9.74%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CHE shares. Royal Bank Of Canada reiterated an "outperform" rating and issued a $640.00 price objective (down from $674.00) on shares of Chemed in a research note on Monday, June 30th. Bank of America decreased their price target on Chemed from $708.00 to $650.00 and set a "buy" rating on the stock in a research report on Monday, June 30th. Wall Street Zen lowered Chemed from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Finally, Jefferies Financial Group assumed coverage on Chemed in a research report on Friday. They set a "hold" rating and a $500.00 price target on the stock.

Insider Buying and Selling at Chemed

In other Chemed news, EVP Spencer S. Lee sold 1,500 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $577.99, for a total transaction of $866,985.00. Following the transaction, the executive vice president owned 14,627 shares of the company's stock, valued at approximately $8,454,259.73. This represents a 9.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kevin J. Mcnamara sold 1,500 shares of the company's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $576.45, for a total value of $864,675.00. Following the transaction, the chief executive officer directly owned 101,197 shares in the company, valued at approximately $58,335,010.65. This represents a 1.46% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,500 shares of company stock worth $2,598,450. Company insiders own 3.29% of the company's stock.

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.