Ellington Management Group LLC acquired a new position in shares of Chemed Co. (NYSE:CHE) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 900 shares of the company’s stock, valued at approximately $219,000.
Several other large investors have also added to or reduced their stakes in the company. Hengehold Capital Management LLC purchased a new stake in shares of Chemed in the 4th quarter valued at about $203,000. Tocqueville Asset Management L.P. purchased a new stake in shares of Chemed in the 4th quarter valued at about $205,000. D.A. Davidson & CO. purchased a new stake in shares of Chemed in the 4th quarter valued at about $209,000. LS Investment Advisors LLC lifted its holdings in shares of Chemed by 60.7% in the 4th quarter. LS Investment Advisors LLC now owns 937 shares of the company’s stock valued at $228,000 after purchasing an additional 354 shares during the last quarter. Finally, Burney Co. purchased a new stake in shares of Chemed in the 4th quarter valued at about $233,000. 94.59% of the stock is owned by institutional investors and hedge funds.
CHE has been the subject of several research reports. ValuEngine downgraded Chemed from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Oppenheimer upped their price objective on Chemed from $270.00 to $275.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $258.00 price objective on shares of Chemed in a research note on Friday, February 16th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Chemed currently has an average rating of “Hold” and an average target price of $261.33.
In other news, VP Naomi C. Dallob sold 1,050 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $257.00, for a total transaction of $269,850.00. Following the completion of the transaction, the vice president now directly owns 6,649 shares of the company’s stock, valued at approximately $1,708,793. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Kevin J. Mcnamara sold 6,000 shares of the stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $258.00, for a total value of $1,548,000.00. Following the transaction, the insider now directly owns 140,049 shares of the company’s stock, valued at $36,132,642. The disclosure for this sale can be found here. 4.90% of the stock is owned by corporate insiders.
Shares of Chemed Co. (NYSE:CHE) opened at $280.34 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.88 and a current ratio of 0.91. The company has a market capitalization of $4,548.91, a P/E ratio of 48.25 and a beta of 1.10. Chemed Co. has a one year low of $178.44 and a one year high of $285.79.
Chemed (NYSE:CHE) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $2.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.27 by $0.05. The firm had revenue of $428.35 million during the quarter, compared to the consensus estimate of $423.83 million. Chemed had a return on equity of 30.04% and a net margin of 5.89%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.10 EPS.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 19th. Shareholders of record on Monday, February 26th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Friday, February 23rd. Chemed’s dividend payout ratio is presently 19.28%.
Chemed declared that its Board of Directors has initiated a share repurchase program on Tuesday, March 6th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.
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Chemed Company Profile
Chemed Corporation purchases, operates and divests subsidiaries engaged in various business activities. The Company operates through two segments: the VITAS segment (VITAS) and the Roto-Rooter segment (Roto-Rooter). The Company’s VITAS provides hospice and palliative care services to its patients through a network of physicians, registered nurses, home health aides, social workers, clergy and volunteers.
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