Kayne Anderson Rudnick Investment Management LLC Decreases Stake in Chemed Co. (NYSE:CHE)

Kayne Anderson Rudnick Investment Management LLC decreased its position in shares of Chemed Co. (NYSE:CHE - Free Report) by 1.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 582,134 shares of the company's stock after selling 10,820 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 3.87% of Chemed worth $308,415,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CHE. MML Investors Services LLC grew its holdings in Chemed by 3.9% during the 3rd quarter. MML Investors Services LLC now owns 1,457 shares of the company's stock worth $876,000 after acquiring an additional 55 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Chemed by 21.3% in the 3rd quarter. Franklin Resources Inc. now owns 8,800 shares of the company's stock worth $5,282,000 after purchasing an additional 1,544 shares during the period. Central Pacific Bank Trust Division boosted its stake in shares of Chemed by 11.4% during the fourth quarter. Central Pacific Bank Trust Division now owns 880 shares of the company's stock valued at $466,000 after purchasing an additional 90 shares in the last quarter. Nordea Investment Management AB increased its holdings in Chemed by 4.9% during the fourth quarter. Nordea Investment Management AB now owns 13,639 shares of the company's stock valued at $7,242,000 after buying an additional 635 shares during the period. Finally, Harbor Capital Advisors Inc. raised its stake in Chemed by 18.4% in the fourth quarter. Harbor Capital Advisors Inc. now owns 3,188 shares of the company's stock worth $1,689,000 after buying an additional 496 shares in the last quarter. Hedge funds and other institutional investors own 95.85% of the company's stock.

Insider Activity

In other Chemed news, CEO Kevin J. Mcnamara sold 1,000 shares of the stock in a transaction dated Monday, March 31st. The stock was 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 in the company, valued at approximately $62,566,139.07. This trade represents a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.32% of the company's stock.

Chemed Stock Up 1.7 %

Shares of Chemed stock traded up $9.08 on Friday, reaching $555.86. The stock had a trading volume of 60,210 shares, compared to its average volume of 99,174. Chemed Co. has a 1 year low of $512.12 and a 1 year high of $623.61. The company has a 50 day moving average price of $587.53 and a 200 day moving average price of $567.32. The stock has a market capitalization of $8.12 billion, a P/E ratio of 28.19, a P/E/G ratio of 2.15 and a beta of 0.49.

Chemed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 24th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, February 24th. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. Chemed's dividend payout ratio is presently 10.05%.

Analyst Ratings Changes

CHE has been the topic of a number of analyst reports. StockNews.com upgraded Chemed from a "hold" rating to a "buy" rating in a report on Friday, March 7th. Royal Bank of Canada lifted their target price on Chemed from $633.00 to $667.00 and gave the company an "outperform" rating in a research note on Friday, March 14th.

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.