Commerce Bank Grows Stock Position in Chemed Co. (NYSE:CHE)

Commerce Bank increased its position in shares of Chemed Co. (NYSE:CHE) by 0.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,207 shares of the company’s stock after purchasing an additional 40 shares during the quarter. Commerce Bank’s holdings in Chemed were worth $3,730,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in CHE. GAMMA Investing LLC raised its position in shares of Chemed by 34.4% in the second quarter. GAMMA Investing LLC now owns 86 shares of the company’s stock valued at $47,000 after buying an additional 22 shares during the last quarter. American National Bank & Trust acquired a new stake in Chemed in the 3rd quarter valued at about $61,000. EntryPoint Capital LLC lifted its stake in Chemed by 14.0% in the 1st quarter. EntryPoint Capital LLC now owns 147 shares of the company’s stock worth $94,000 after purchasing an additional 18 shares in the last quarter. Mather Group LLC. boosted its holdings in shares of Chemed by 60.5% during the 2nd quarter. Mather Group LLC. now owns 183 shares of the company’s stock worth $99,000 after purchasing an additional 69 shares during the last quarter. Finally, Quarry LP grew its position in shares of Chemed by 721.7% in the second quarter. Quarry LP now owns 189 shares of the company’s stock valued at $103,000 after purchasing an additional 166 shares in the last quarter. 95.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CHE has been the topic of a number of recent research reports. StockNews.com lowered Chemed from a “buy” rating to a “hold” rating in a research note on Friday. Royal Bank of Canada dropped their price objective on shares of Chemed from $697.00 to $633.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th.

Chemed Stock Performance

CHE stock opened at $570.63 on Friday. The firm has a market cap of $8.59 billion, a PE ratio of 28.83, a PEG ratio of 2.24 and a beta of 0.46. Chemed Co. has a one year low of $523.33 and a one year high of $654.62. The firm’s 50 day moving average price is $579.16 and its 200-day moving average price is $565.16.

Chemed (NYSE:CHE) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $5.64 EPS for the quarter, missing the consensus estimate of $5.76 by ($0.12). The business had revenue of $606.18 million during the quarter, compared to analyst estimates of $612.22 million. Chemed had a net margin of 12.69% and a return on equity of 27.86%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period last year, the company earned $5.32 EPS. Equities research analysts predict that Chemed Co. will post 22.26 EPS for the current fiscal year.

Chemed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend is Monday, November 18th. Chemed’s dividend payout ratio is presently 10.11%.

Insider Activity

In other news, CEO Kevin J. Mcnamara sold 2,000 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $598.81, for a total transaction of $1,197,620.00. Following the sale, the chief executive officer now owns 103,735 shares of the company’s stock, valued at approximately $62,117,555.35. This represents a 1.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nicholas Michael Westfall sold 1,713 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $569.35, for a total transaction of $975,296.55. Following the completion of the transaction, the executive vice president now directly owns 6,109 shares of the company’s stock, valued at approximately $3,478,159.15. The trade was a 21.90 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,113 shares of company stock valued at $2,411,905. Company insiders own 3.32% of the company’s stock.

Chemed 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.