Smith Asset Management Group LP Acquires 800 Shares of Chemed Corp. (CHE)
Smith Asset Management Group LP raised its position in Chemed Corp. (NYSE:CHE) by 3.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,229 shares of the company’s stock after buying an additional 800 shares during the period. Smith Asset Management Group LP’s holdings in Chemed Corp. were worth $3,166,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Chemed Corp. during the fourth quarter worth about $40,455,000. Apex Capital Management raised its stake in shares of Chemed Corp. by 18.6% in the first quarter. Apex Capital Management now owns 130,220 shares of the company’s stock worth $17,638,000 after buying an additional 20,440 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of Chemed Corp. by 6.6% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 5,636 shares of the company’s stock worth $763,000 after buying an additional 350 shares in the last quarter. BlackRock Inc. raised its stake in shares of Chemed Corp. by 90.4% in the first quarter. BlackRock Inc. now owns 1,152 shares of the company’s stock worth $156,000 after buying an additional 547 shares in the last quarter. Finally, BlackRock Group LTD raised its stake in shares of Chemed Corp. by 7.2% in the first quarter. BlackRock Group LTD now owns 22,610 shares of the company’s stock worth $3,062,000 after buying an additional 1,514 shares in the last quarter. 98.62% of the stock is owned by institutional investors and hedge funds.
Shares of Chemed Corp. (NYSE:CHE) traded up 1.53% during mid-day trading on Thursday, hitting $141.93. 71,694 shares of the stock traded hands. The company has a market cap of $2.30 billion, a P/E ratio of 22.51 and a beta of 1.14. Chemed Corp. has a one year low of $124.77 and a one year high of $160.12. The stock has a 50 day moving average price of $137.20 and a 200-day moving average price of $135.41.
Chemed Corp. (NYSE:CHE) last issued its earnings results on Monday, July 25th. The company reported $1.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.08. Chemed Corp. had a return on equity of 24.12% and a net margin of 6.93%. The business earned $290 million during the quarter, compared to analysts’ expectations of $393.50 million. During the same quarter in the previous year, the business earned $1.71 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, analysts forecast that Chemed Corp. will post $7.25 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 2nd. Stockholders of record on Monday, August 15th were issued a dividend of $0.26 per share. The ex-dividend date was Thursday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.73%. This is a boost from Chemed Corp.’s previous quarterly dividend of $0.24. Chemed Corp.’s payout ratio is presently 16.51%.
A number of equities research analysts recently issued reports on CHE shares. Zacks Investment Research lowered shares of Chemed Corp. from a “buy” rating to a “hold” rating in a report on Friday, July 29th. Royal Bank Of Canada upped their target price on shares of Chemed Corp. from $136.00 to $162.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 27th. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $162.00 target price (up previously from $136.00) on shares of Chemed Corp. in a research report on Wednesday, July 27th. Finally, JMP Securities reaffirmed a “hold” rating on shares of Chemed Corp. in a research report on Sunday, September 4th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Chemed Corp. has an average rating of “Hold” and an average price target of $159.00.
In other news, insider Kevin J. Mcnamara sold 18,000 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $144.87, for a total transaction of $2,607,660.00. Following the completion of the sale, the insider now owns 163,266 shares in the company, valued at approximately $23,652,345.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Donald E. Saunders sold 500 shares of the business’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $144.32, for a total value of $72,160.00. Following the sale, the director now owns 10,786 shares of the company’s stock, valued at approximately $1,556,635.52. The disclosure for this sale can be found here. Insiders own 5.32% of the company’s stock.
About Chemed Corp.
Chemed Corporation operates and divests subsidiaries engaged in diverse business activities. The Company operates its business in two segments: the VITAS segment (VITAS) and the Roto-Rooter segment (Roto-Rooter). The Company’s VITAS segment 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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