Chemed Co. (NYSE:CHE) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P lessened its holdings in Chemed Co. (NYSE:CHE) by 8.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,993 shares of the company’s stock after selling 3,067 shares during the period. Martingale Asset Management L P owned approximately 0.21% of Chemed worth $19,227,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of CHE. SG Americas Securities LLC grew its stake in shares of Chemed by 422.9% in the second quarter. SG Americas Securities LLC now owns 7,551 shares of the company’s stock valued at $4,097,000 after buying an additional 6,107 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in Chemed by 292.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 1,241 shares of the company’s stock valued at $673,000 after acquiring an additional 925 shares in the last quarter. Hsbc Holdings PLC grew its position in Chemed by 110.0% in the 2nd quarter. Hsbc Holdings PLC now owns 10,638 shares of the company’s stock valued at $5,801,000 after acquiring an additional 5,572 shares in the last quarter. Evergreen Capital Management LLC purchased a new stake in Chemed during the second quarter worth about $7,812,000. Finally, Quest Partners LLC lifted its position in shares of Chemed by 634.3% during the second quarter. Quest Partners LLC now owns 1,990 shares of the company’s stock worth $1,080,000 after purchasing an additional 1,719 shares in the last quarter. 95.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Chemed

In other Chemed news, CEO Kevin J. Mcnamara sold 2,000 shares of the company’s 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 transaction, the chief executive officer now directly owns 103,735 shares in the company, 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 filing with the SEC, which can be accessed through this link. Also, EVP Nicholas Michael Westfall sold 1,713 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $569.35, for a total transaction of $975,296.55. Following the transaction, the executive vice president now owns 6,109 shares in the company, valued at $3,478,159.15. The trade was a 21.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,113 shares of company stock worth $3,557,445 over the last ninety days. 3.32% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on CHE. Royal Bank of Canada decreased their price target on shares of Chemed from $697.00 to $633.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. StockNews.com lowered Chemed from a “buy” rating to a “hold” rating in a report on Friday, November 22nd.

Chemed Price Performance

Shares of CHE opened at $571.31 on Friday. Chemed Co. has a 1-year low of $523.33 and a 1-year high of $654.62. The stock has a market cap of $8.60 billion, a PE ratio of 28.87, a price-to-earnings-growth ratio of 2.42 and a beta of 0.46. The firm has a fifty day moving average price of $578.45 and a 200 day moving average price of $565.06.

Chemed (NYSE:CHE) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $5.64 EPS for the quarter, missing analysts’ consensus estimates 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 company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.32 earnings per share. As a group, equities analysts expect that Chemed Co. will post 21.43 EPS for the current fiscal year.

Chemed Announces Dividend

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

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.