Chemed Co. (NYSE:CHE) Stake Lessened by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its holdings in Chemed Co. (NYSE:CHE) by 5.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,404 shares of the company’s stock after selling 900 shares during the period. New York State Teachers Retirement System owned about 0.11% of Chemed worth $8,900,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CHE. &PARTNERS acquired a new stake in Chemed during the 2nd quarter worth about $1,010,000. Rockland Trust Co. acquired a new stake in shares of Chemed during the second quarter worth approximately $543,000. Lecap Asset Management Ltd. purchased a new position in Chemed during the second quarter valued at approximately $873,000. Fifth Third Wealth Advisors LLC acquired a new position in Chemed in the 2nd quarter valued at approximately $262,000. Finally, Fifth Third Bancorp lifted its position in Chemed by 190.9% in the 2nd quarter. Fifth Third Bancorp now owns 5,336 shares of the company’s stock worth $2,895,000 after buying an additional 3,502 shares in the last quarter. Hedge funds and other institutional investors own 95.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. StockNews.com upgraded shares of Chemed from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. Royal Bank of Canada lowered their target price on Chemed from $712.00 to $697.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 21st.

Chemed Stock Up 0.1 %

CHE stock opened at $572.37 on Friday. The firm has a 50 day moving average of $553.49 and a two-hundred day moving average of $580.63. Chemed Co. has a 12 month low of $492.84 and a 12 month high of $654.62. The company has a market capitalization of $8.67 billion, a price-to-earnings ratio of 30.81, a P/E/G ratio of 2.40 and a beta of 0.43.

Chemed (NYSE:CHE) last released its quarterly earnings data on Wednesday, July 24th. The company reported $5.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.59 by ($0.12). Chemed had a net margin of 12.88% and a return on equity of 29.21%. The business had revenue of $595.88 million during the quarter, compared to analyst estimates of $599.20 million. During the same period in the previous year, the firm posted $4.71 EPS. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, research analysts expect that Chemed Co. will post 21.77 EPS for the current fiscal year.

Chemed Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Monday, August 12th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. This is an increase from Chemed’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Monday, August 12th. Chemed’s dividend payout ratio (DPR) is presently 10.76%.

Insider Buying and Selling

In other Chemed news, Director George J. Walsh III sold 200 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $577.95, for a total transaction of $115,590.00. Following the transaction, the director now owns 3,446 shares in the company, valued at $1,991,615.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Kevin J. Mcnamara sold 1,500 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $544.17, for a total transaction of $816,255.00. Following the completion of the transaction, the chief executive officer now owns 107,049 shares of the company’s stock, valued at approximately $58,252,854.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George J. Walsh III sold 200 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $577.95, for a total value of $115,590.00. Following the completion of the sale, the director now directly owns 3,446 shares in the company, valued at approximately $1,991,615.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,984 shares of company stock worth $3,347,903. 3.32% of the stock is currently owned by insiders.

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.