Central Pacific Bank Trust Division Makes New $442,000 Investment in Chemed Co. (NYSE:CHE)

Central Pacific Bank Trust Division bought a new position in shares of Chemed Co. (NYSE:CHE) in the 1st quarter, HoldingsChannel reports. The fund bought 690 shares of the company’s stock, valued at approximately $442,000.

Other hedge funds also recently bought and sold shares of the company. Rise Advisors LLC purchased a new position in shares of Chemed in the first quarter valued at approximately $26,000. GAMMA Investing LLC purchased a new position in Chemed in the fourth quarter worth approximately $37,000. Principal Securities Inc. purchased a new position in Chemed in the fourth quarter worth approximately $51,000. SRS Capital Advisors Inc. lifted its stake in Chemed by 110.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 99 shares of the company’s stock worth $58,000 after acquiring an additional 52 shares during the last quarter. Finally, Mather Group LLC. purchased a new position in Chemed in the first quarter worth approximately $67,000. Hedge funds and other institutional investors own 95.85% of the company’s stock.

Chemed Price Performance

Shares of NYSE:CHE traded up $1.01 during trading on Wednesday, hitting $528.83. 957 shares of the company were exchanged, compared to its average volume of 81,885. The stock has a market capitalization of $8.01 billion, a P/E ratio of 28.41, a PEG ratio of 2.20 and a beta of 0.43. Chemed Co. has a 12-month low of $492.84 and a 12-month high of $654.62. The firm’s 50 day moving average price is $550.41 and its 200-day moving average price is $586.81.

Chemed (NYSE:CHE) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $4.68 earnings per share for the quarter, missing the consensus estimate of $5.09 by ($0.41). The company had revenue of $589.23 million for the quarter, compared to analysts’ expectations of $587.18 million. Chemed had a return on equity of 30.52% and a net margin of 12.36%. As a group, equities research analysts anticipate that Chemed Co. will post 21.54 EPS for the current year.

Chemed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Thursday, May 30th were given a $0.40 dividend. The ex-dividend date was Thursday, May 30th. This represents a $1.60 annualized dividend and a yield of 0.30%. Chemed’s dividend payout ratio (DPR) is 8.61%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CHE shares. Royal Bank of Canada reduced their price objective on shares of Chemed from $712.00 to $697.00 and set an “outperform” rating for the company in a research report on Tuesday, May 21st. StockNews.com upgraded shares of Chemed from a “hold” rating to a “buy” rating in a research report on Saturday, May 4th.

Insider Activity at Chemed

In related news, Director Patrick P. Grace sold 284 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $540.98, for a total value of $153,638.32. Following the completion of the sale, the director now owns 3,270 shares in the company, valued at approximately $1,769,004.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Patrick P. Grace sold 284 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $540.98, for a total value of $153,638.32. Following the completion of the sale, the director now owns 3,270 shares in the company, valued at approximately $1,769,004.60. The transaction was disclosed in a legal filing with the SEC, 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 Thursday, June 6th. The shares were sold at an average price of $544.17, for a total transaction of $816,255.00. Following the completion of the sale, the chief executive officer now owns 107,049 shares of the company’s stock, valued at approximately $58,252,854.33. The disclosure for this sale can be found here. Insiders sold a total of 5,784 shares of company stock worth $3,240,053 in the last 90 days. 3.32% of the stock is owned by 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.