Smith Group Asset Management LLC Makes New Investment in Chemed Corporation (NYSE:CHE)

Smith Group Asset Management LLC purchased a new stake in Chemed Corporation (NYSE:CHE - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,100 shares of the company's stock, valued at approximately $677,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CHE. Alpine Bank Wealth Management acquired a new position in Chemed in the 1st quarter worth $29,000. Whipplewood Advisors LLC lifted its holdings in shares of Chemed by 54.5% in the first quarter. Whipplewood Advisors LLC now owns 51 shares of the company's stock valued at $31,000 after purchasing an additional 18 shares in the last quarter. Atala Financial Inc bought a new stake in shares of Chemed in the fourth quarter valued at about $29,000. CBIZ Investment Advisory Services LLC boosted its position in shares of Chemed by 64.7% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 56 shares of the company's stock worth $30,000 after buying an additional 22 shares during the period. Finally, Tortoise Investment Management LLC grew its holdings in shares of Chemed by 77.3% during the fourth quarter. Tortoise Investment Management LLC now owns 78 shares of the company's stock worth $41,000 after buying an additional 34 shares in the last quarter. Institutional investors and hedge funds own 95.85% of the company's stock.

Chemed Stock Performance

CHE traded down $11.03 during trading on Wednesday, reaching $472.89. 81,186 shares of the stock were exchanged, compared to its average volume of 110,079. The stock's 50 day moving average price is $561.01 and its two-hundred day moving average price is $564.04. Chemed Corporation has a twelve month low of $472.42 and a twelve month high of $623.61. The stock has a market cap of $6.92 billion, a P/E ratio of 23.03, a price-to-earnings-growth ratio of 2.02 and a beta of 0.50.

Chemed (NYSE:CHE - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $5.63 earnings per share 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 company had revenue of $646.94 million for the quarter, compared to analyst estimates of $641.78 million. During the same period in the previous year, the business earned $5.20 EPS. Chemed's revenue for the quarter was up 9.8% compared to the same quarter last year. Equities research analysts predict that Chemed Corporation will post 21.43 earnings per share for the current fiscal year.

Chemed Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Thursday, May 29th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $2.00 annualized dividend and a dividend yield of 0.42%. Chemed's dividend payout ratio is currently 9.74%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Wall Street Zen raised Chemed from a "hold" rating to a "buy" rating in a research report on Friday, March 7th. Royal Bank Of Canada decreased their target price on shares of Chemed from $674.00 to $640.00 and set an "outperform" rating for the company in a research report on Monday. Finally, Bank of America cut their price target on shares of Chemed from $708.00 to $650.00 and set a "buy" rating on the stock in a research report on Monday.

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.