Acadian Asset Management LLC Acquires 40,695 Shares of Chemed Co. (NYSE:CHE)

Acadian Asset Management LLC increased its position in shares of Chemed Co. (NYSE:CHE) by 29.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 179,465 shares of the company’s stock after buying an additional 40,695 shares during the period. Acadian Asset Management LLC owned 1.19% of Chemed worth $115,184,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of CHE. Handelsinvest Investeringsforvaltning acquired a new position in Chemed in the fourth quarter valued at $314,000. GPS Wealth Strategies Group LLC lifted its holdings in Chemed by 3.5% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 2,145 shares of the company’s stock valued at $1,254,000 after buying an additional 73 shares during the period. Raymond James & Associates lifted its holdings in Chemed by 5.7% in the fourth quarter. Raymond James & Associates now owns 67,918 shares of the company’s stock valued at $39,715,000 after buying an additional 3,654 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in Chemed by 55.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 2,308 shares of the company’s stock valued at $1,349,000 after buying an additional 827 shares during the period. Finally, Pacer Advisors Inc. lifted its holdings in Chemed by 46.0% in the fourth quarter. Pacer Advisors Inc. now owns 2,665 shares of the company’s stock valued at $1,558,000 after buying an additional 840 shares during the period. Institutional investors and hedge funds own 95.85% of the company’s stock.

Insider Transactions at Chemed

In other news, Director Patrick P. Grace sold 284 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $540.98, for a total transaction of $153,638.32. Following the completion of the sale, the director now directly owns 3,270 shares of the company’s stock, valued at $1,769,004.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Patrick P. Grace sold 284 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $540.98, for a total transaction of $153,638.32. Following the transaction, the director now directly owns 3,270 shares in the company, valued at $1,769,004.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Kevin J. Mcnamara sold 4,000 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $567.54, for a total transaction of $2,270,160.00. Following the transaction, the chief executive officer now owns 108,549 shares in the company, valued at $61,605,899.46. The disclosure for this sale can be found here. Insiders sold a total of 5,784 shares of company stock valued at $3,240,053 over the last three months. Corporate insiders own 3.32% of the company’s stock.

Analyst Upgrades and Downgrades

CHE has been the subject of several research analyst reports. Royal Bank of Canada decreased their price target on shares of Chemed from $712.00 to $697.00 and set an “outperform” rating for the company in a research note on Tuesday, May 21st. StockNews.com raised shares of Chemed from a “hold” rating to a “buy” rating in a research note on Saturday, May 4th.

Chemed Stock Up 0.2 %

CHE traded up $0.91 during midday trading on Friday, hitting $543.00. The company had a trading volume of 70,422 shares, compared to its average volume of 97,971. Chemed Co. has a 52 week low of $492.84 and a 52 week high of $654.62. The company has a market capitalization of $8.22 billion, a price-to-earnings ratio of 29.22, a PEG ratio of 2.24 and a beta of 0.43. The stock’s 50 day moving average price is $545.59 and its 200 day moving average price is $584.22.

Chemed (NYSE:CHE) last posted its earnings results on Wednesday, April 24th. The company reported $4.68 EPS for the quarter, missing the consensus estimate of $5.09 by ($0.41). The business had revenue of $589.23 million for the quarter, compared to the consensus estimate of $587.18 million. Chemed had a return on equity of 30.52% and a net margin of 12.36%. Research analysts predict that Chemed Co. will post 21.54 EPS for the current year.

Chemed Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Thursday, May 30th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.29%. The ex-dividend date was Thursday, May 30th. Chemed’s payout ratio is presently 8.61%.

About Chemed

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.