Allspring Global Investments Holdings LLC Increases Holdings in Chemed Co. (NYSE:CHE)

Allspring Global Investments Holdings LLC boosted its holdings in shares of Chemed Co. (NYSE:CHE) by 143.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,267 shares of the company’s stock after purchasing an additional 24,912 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Chemed were worth $25,401,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Raymond James & Associates increased its holdings in Chemed by 4.1% during the 3rd quarter. Raymond James & Associates now owns 75,303 shares of the company’s stock valued at $45,255,000 after purchasing an additional 2,993 shares during the period. Blue Trust Inc. increased its holdings in Chemed by 11.9% during the 3rd quarter. Blue Trust Inc. now owns 1,875 shares of the company’s stock valued at $1,127,000 after purchasing an additional 200 shares during the period. Net Worth Advisory Group purchased a new position in Chemed during the 3rd quarter valued at about $274,000. Mitchell & Pahl Private Wealth LLC increased its holdings in Chemed by 4.6% during the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 1,084 shares of the company’s stock valued at $651,000 after purchasing an additional 48 shares during the period. Finally, nVerses Capital LLC grew its holdings in shares of Chemed by 16.7% during the 3rd quarter. nVerses Capital LLC now owns 700 shares of the company’s stock worth $421,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 95.85% of the company’s stock.

Chemed Stock Performance

CHE stock opened at $593.15 on Thursday. Chemed Co. has a fifty-two week low of $502.64 and a fifty-two week high of $654.62. The business’s 50 day moving average price is $585.24 and its two-hundred day moving average price is $570.10. The company has a market capitalization of $8.98 billion, a price-to-earnings ratio of 31.92, a price-to-earnings-growth ratio of 2.44 and a beta of 0.44.

Chemed (NYSE:CHE) last posted its earnings results 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 for the quarter, compared to analysts’ expectations of $599.20 million. During the same quarter last year, the company posted $4.71 EPS. The firm’s revenue was up 7.6% on a year-over-year basis. Sell-side analysts forecast that Chemed Co. will post 21.77 earnings per share for the current year.

Chemed Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 12th were issued a dividend of $0.50 per share. This is an increase from Chemed’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. Chemed’s dividend payout ratio is 10.76%.

Insiders Place Their Bets

In other Chemed news, CEO Kevin J. Mcnamara sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $598.81, for a total transaction of $1,197,620.00. Following the transaction, the chief executive officer now owns 103,735 shares in the company, valued at approximately $62,117,555.35. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Kevin J. Mcnamara sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $598.81, for a total value of $1,197,620.00. Following the sale, the chief executive officer now owns 103,735 shares in the company, valued at $62,117,555.35. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Nicholas Michael Westfall sold 1,713 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $569.35, for a total value of $975,296.55. Following the completion of the sale, the executive vice president now owns 6,109 shares in the company, valued at $3,478,159.15. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,144 shares of company stock worth $5,264,839. Company insiders own 3.32% 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.