Chemed Co. (NYSE:CHE – Get Free Report) declared a quarterly dividend on Friday, November 8th,Wall Street Journal reports. Investors of record on Monday, November 18th will be paid a dividend of 0.50 per share on Friday, December 6th. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. The ex-dividend date is Monday, November 18th.
Chemed has raised its dividend payment by an average of 5.7% per year over the last three years and has increased its dividend annually for the last 16 consecutive years. Chemed has a payout ratio of 8.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Chemed to earn $23.30 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 8.6%.
Chemed Trading Down 0.6 %
Shares of CHE stock opened at $558.64 on Friday. The company has a market capitalization of $8.41 billion, a PE ratio of 28.23, a price-to-earnings-growth ratio of 2.40 and a beta of 0.46. Chemed has a twelve month low of $523.33 and a twelve month high of $654.62. The firm has a fifty day simple moving average of $580.37 and a 200-day simple moving average of $565.40.
Insider Transactions at Chemed
In other news, Director George J. Walsh III sold 400 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $597.47, for a total value of $238,988.00. Following the sale, the director now directly owns 3,046 shares of the company’s stock, valued at approximately $1,819,893.62. This represents a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kevin J. Mcnamara sold 2,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 103,735 shares in the company, valued at $62,117,555.35. The trade was a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,313 shares of company stock valued at $2,527,495. 3.32% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Separately, Royal Bank of Canada dropped their target price on shares of Chemed from $697.00 to $633.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th.
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.
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