Second Line Capital LLC Grows Position in Chemed Co. (NYSE:CHE)

Second Line Capital LLC raised its stake in shares of Chemed Co. (NYSE:CHE - Free Report) by 16.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 5,353 shares of the company's stock after purchasing an additional 756 shares during the quarter. Second Line Capital LLC's holdings in Chemed were worth $2,836,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Chemed during the fourth quarter worth approximately $95,872,000. Freestone Grove Partners LP acquired a new stake in Chemed in the 4th quarter valued at $61,664,000. Point72 Asset Management L.P. acquired a new stake in Chemed in the 4th quarter valued at $54,587,000. Raymond James Financial Inc. bought a new position in shares of Chemed in the 4th quarter valued at about $42,023,000. Finally, Citadel Advisors LLC lifted its stake in shares of Chemed by 197.4% during the 4th quarter. Citadel Advisors LLC now owns 77,143 shares of the company's stock worth $40,870,000 after buying an additional 51,206 shares during the last quarter. Institutional investors own 95.85% of the company's stock.

Insider Buying and Selling

In related news, CEO Kevin J. Mcnamara sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $593.67, for a total value of $1,187,340.00. Following the sale, the chief executive officer now owns 102,679 shares in the company, valued at approximately $60,957,441.93. This trade represents a 1.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Spencer S. Lee sold 1,500 shares of the 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 transaction, 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 7,500 shares of company stock valued at $4,401,120 over the last quarter. Corporate insiders own 3.29% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on CHE. Royal Bank of Canada raised their target price on shares of Chemed from $667.00 to $674.00 and gave the company an "outperform" rating in a report on Monday, April 28th. StockNews.com upgraded shares of Chemed from a "hold" rating to a "buy" rating in a report on Friday, March 7th.

Chemed Stock Performance

CHE traded up $2.47 during midday trading on Tuesday, reaching $580.49. The company had a trading volume of 130,274 shares, compared to its average volume of 101,987. The stock has a market cap of $8.49 billion, a PE ratio of 29.33, a P/E/G ratio of 2.15 and a beta of 0.59. The business has a 50-day moving average price of $585.81 and a two-hundred day moving average price of $564.80. Chemed Co. has a 12-month low of $512.12 and a 12-month high of $623.61.

Chemed (NYSE:CHE - Get Free Report) last posted 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 12.69% and a return on equity of 27.86%. The business had revenue of $646.94 million for the quarter, compared to analysts' expectations 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, research analysts anticipate that Chemed Co. will post 21.43 earnings per share for the current year.

Chemed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Thursday, May 29th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend is 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.