Park Avenue Securities LLC Invests $260,000 in Chemed Co. (NYSE:CHE)

Park Avenue Securities LLC acquired a new position in shares of Chemed Co. (NYSE:CHE) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 433 shares of the company’s stock, valued at approximately $260,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Chemed in the 1st quarter worth approximately $1,064,000. ProShare Advisors LLC increased its holdings in shares of Chemed by 6,288.9% during the first quarter. ProShare Advisors LLC now owns 50,600 shares of the company’s stock valued at $32,482,000 after acquiring an additional 49,808 shares in the last quarter. Sei Investments Co. raised its position in shares of Chemed by 4.5% in the 1st quarter. Sei Investments Co. now owns 41,336 shares of the company’s stock worth $26,535,000 after purchasing an additional 1,780 shares during the last quarter. American National Bank & Trust Co. VA bought a new position in Chemed in the 1st quarter worth about $3,122,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Chemed during the 1st quarter valued at about $4,512,000. Hedge funds and other institutional investors own 95.85% of the company’s stock.

Chemed Stock Performance

Shares of Chemed stock opened at $589.88 on Monday. The company has a 50-day simple moving average of $580.69 and a two-hundred day simple moving average of $571.53. The stock has a market capitalization of $8.93 billion, a PE ratio of 31.75, a price-to-earnings-growth ratio of 2.44 and a beta of 0.44. Chemed Co. has a 52-week low of $497.36 and a 52-week high of $654.62.

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

Chemed Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 12th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, August 12th. This is a boost from Chemed’s previous quarterly dividend of $0.40. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. Chemed’s dividend payout ratio (DPR) is 10.76%.

Insider Buying and Selling

In other news, CEO Kevin J. Mcnamara sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $569.63, for a total transaction of $1,139,260.00. Following the sale, the chief executive officer now owns 105,735 shares of the company’s stock, valued at $60,229,828.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Chemed news, EVP Nicholas Michael Westfall sold 1,713 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $569.35, for a total value of $975,296.55. Following the transaction, the executive vice president now owns 6,109 shares of the company’s stock, valued at approximately $3,478,159.15. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kevin J. Mcnamara sold 2,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $569.63, for a total value of $1,139,260.00. Following the sale, the chief executive officer now owns 105,735 shares of the company’s stock, valued at approximately $60,229,828.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,144 shares of company stock worth $5,264,839. 3.32% of the stock is owned by corporate insiders.

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.