Chemed Co. (NYSE:CHE) Position Reduced by Rhumbline Advisers

Rhumbline Advisers decreased its position in Chemed Co. (NYSE:CHE - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,878 shares of the company's stock after selling 1,406 shares during the quarter. Rhumbline Advisers owned 0.39% of Chemed worth $34,998,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CHE. Jericho Financial LLP bought a new position in shares of Chemed in the 4th quarter worth about $3,142,000. William Allan Corp raised its stake in Chemed by 13.5% during the fourth quarter. William Allan Corp now owns 8,340 shares of the company's stock worth $4,418,000 after acquiring an additional 989 shares during the period. Lecap Asset Management Ltd. bought a new position in Chemed in the fourth quarter worth about $1,130,000. Elevate Capital Advisors LLC acquired a new position in Chemed in the fourth quarter valued at approximately $1,106,000. Finally, Portfolio Design Labs LLC acquired a new position in Chemed in the fourth quarter valued at approximately $324,000. 95.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Chemed news, CEO Kevin J. Mcnamara sold 1,000 shares of the company's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $615.33, for a total value of $615,330.00. Following the completion of the sale, the chief executive officer now directly owns 101,679 shares of the company's stock, valued at approximately $62,566,139.07. This represents a 0.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Spencer S. Lee sold 1,500 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $577.86, for a total transaction of $866,790.00. Following the completion of the sale, the executive vice president now owns 16,127 shares in the company, valued at $9,319,148.22. The trade was a 8.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,500 shares of company stock valued at $3,213,780 over the last quarter. Corporate insiders own 3.29% of the company's stock.

Wall Street Analyst Weigh In

CHE has been the topic of a number of research reports. Royal Bank of Canada increased their price target on Chemed from $667.00 to $674.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Wall Street Zen raised Chemed from a "hold" rating to a "buy" rating in a research report on Friday, March 7th.

Chemed Stock Up 0.2%

NYSE CHE traded up $1.06 on Friday, hitting $561.84. The stock had a trading volume of 79,703 shares, compared to its average volume of 103,377. The company's 50-day moving average is $576.96 and its two-hundred day moving average is $565.98. Chemed Co. has a one year low of $512.12 and a one year high of $623.61. The stock has a market cap of $8.22 billion, a price-to-earnings ratio of 28.39, a P/E/G ratio of 2.15 and a beta of 0.54.

Chemed (NYSE:CHE - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $5.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.59 by $0.04. Chemed had a return on equity of 27.86% and a net margin of 12.69%. The business had revenue of $646.94 million during the quarter, compared to analyst estimates of $641.78 million. During the same period in the prior year, the company posted $5.20 EPS. The business's revenue for the quarter was up 9.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Chemed Co. will post 21.43 earnings per share for the current year.

Chemed Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Thursday, May 29th will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, May 29th. This represents a $2.00 annualized dividend and a yield of 0.36%. Chemed's payout ratio is 9.74%.

Chemed 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.