WCM Investment Management LLC Invests $346,000 in Chemed Corporation (NYSE:CHE)

WCM Investment Management LLC acquired a new stake in Chemed Corporation (NYSE:CHE - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The firm acquired 571 shares of the company's stock, valued at approximately $346,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in Chemed in the 4th quarter worth approximately $42,023,000. Bessemer Group Inc. boosted its holdings in Chemed by 14.2% in the 1st quarter. Bessemer Group Inc. now owns 950 shares of the company's stock valued at $585,000 after purchasing an additional 118 shares during the period. Park Place Capital Corp raised its position in shares of Chemed by 71.2% during the 1st quarter. Park Place Capital Corp now owns 3,572 shares of the company's stock valued at $2,198,000 after buying an additional 1,486 shares in the last quarter. Mather Group LLC. raised its position in shares of Chemed by 53.3% during the 1st quarter. Mather Group LLC. now owns 161 shares of the company's stock valued at $99,000 after buying an additional 56 shares in the last quarter. Finally, Synergy Asset Management LLC raised its position in shares of Chemed by 108.4% during the 1st quarter. Synergy Asset Management LLC now owns 3,049 shares of the company's stock valued at $1,876,000 after buying an additional 1,586 shares in the last quarter. Hedge funds and other institutional investors own 95.85% of the company's stock.

Insider Buying and Selling at Chemed

In other Chemed news, EVP Spencer S. Lee sold 1,500 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $577.99, for a total transaction of $866,985.00. Following the transaction, the executive vice president directly owned 14,627 shares in the company, valued at $8,454,259.73. This represents a 9.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kevin J. Mcnamara sold 1,500 shares of the firm's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $576.45, for a total transaction of $864,675.00. Following the completion of the sale, the chief executive officer owned 101,197 shares in the company, valued at $58,335,010.65. This represents a 1.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,500 shares of company stock worth $2,598,450. Insiders own 3.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Bank of America decreased their target price on shares of Chemed from $708.00 to $650.00 and set a "buy" rating on the stock in a research report on Monday, June 30th. Royal Bank Of Canada restated an "outperform" rating and issued a $640.00 price objective (down previously from $674.00) on shares of Chemed in a research report on Monday, June 30th. Finally, Wall Street Zen cut shares of Chemed from a "buy" rating to a "hold" rating in a research report on Saturday.

Chemed Price Performance

NYSE:CHE traded down $11.98 during mid-day trading on Monday, hitting $461.20. 199,159 shares of the company's stock were exchanged, compared to its average volume of 111,216. Chemed Corporation has a one year low of $458.08 and a one year high of $623.61. The business has a fifty day moving average price of $553.46 and a 200 day moving average price of $562.74. The company has a market cap of $6.75 billion, a PE ratio of 22.46, a P/E/G ratio of 2.28 and a beta of 0.50.

Chemed (NYSE:CHE - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $5.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.59 by $0.04. Chemed had a net margin of 12.40% and a return on equity of 27.58%. The business had revenue of $646.94 million during the quarter, compared to analysts' expectations of $641.78 million. During the same period in the previous year, the company earned $5.20 earnings per share. The business's revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities analysts forecast that Chemed Corporation will post 21.43 EPS for the current fiscal year.

Chemed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Thursday, May 29th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Thursday, May 29th. Chemed's dividend payout ratio is currently 9.74%.

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.