Kayne Anderson Rudnick Investment Management LLC Purchases 14,651 Shares of Chemed Co. (NYSE:CHE)

Kayne Anderson Rudnick Investment Management LLC increased its position in Chemed Co. (NYSE:CHE) by 2.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 580,316 shares of the company’s stock after purchasing an additional 14,651 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 3.83% of Chemed worth $314,868,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Chemed in the first quarter valued at approximately $1,064,000. ProShare Advisors LLC raised its stake in Chemed by 6,288.9% in the 1st 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 during the period. Cim LLC acquired a new stake in Chemed during the 4th quarter valued at $1,328,000. Sei Investments Co. lifted its holdings in Chemed by 4.5% during the 1st quarter. Sei Investments Co. now owns 41,336 shares of the company’s stock valued at $26,535,000 after purchasing an additional 1,780 shares during the last quarter. Finally, American National Bank & Trust Co. VA bought a new position in Chemed during the first quarter worth $3,122,000. 95.85% of the stock is currently owned by institutional investors and hedge funds.

Chemed Price Performance

Shares of CHE opened at $582.06 on Friday. The company’s 50-day moving average is $569.34 and its 200-day moving average is $578.05. The firm has a market capitalization of $8.81 billion, a PE ratio of 31.33, a PEG ratio of 2.31 and a beta of 0.44. Chemed Co. has a fifty-two week low of $497.36 and a fifty-two week high of $654.62.

Chemed (NYSE:CHE) last released its quarterly earnings results on Wednesday, July 24th. The company reported $5.47 earnings per share for the quarter, missing the consensus estimate of $5.59 by ($0.12). Chemed had a net margin of 12.88% and a return on equity of 29.21%. The company had revenue of $595.88 million during the quarter, compared to the consensus estimate of $599.20 million. During the same period in the prior year, the company earned $4.71 earnings per share. The firm’s revenue was up 7.6% compared to the same quarter last year. Analysts predict that Chemed Co. will post 21.77 earnings per share for the current fiscal year.

Chemed Increases Dividend

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

Insider Activity at Chemed

In other Chemed news, EVP Nicholas Michael Westfall sold 2,000 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $561.58, for a total transaction of $1,123,160.00. Following the transaction, the executive vice president now owns 5,990 shares in the company, valued at approximately $3,363,864.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Andrea R. Lindell sold 831 shares of Chemed stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $571.51, for a total value of $474,924.81. Following the completion of the sale, the director now directly owns 5,725 shares in the company, valued at $3,271,894.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Nicholas Michael Westfall sold 2,000 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $561.58, for a total value of $1,123,160.00. Following the sale, the executive vice president now directly owns 5,990 shares in the company, valued at approximately $3,363,864.20. The disclosure for this sale can be found here. Insiders sold 6,744 shares of company stock worth $3,828,231 in the last ninety days. 3.32% of the stock is owned by company insiders.

Chemed Company Profile

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.