Copeland Capital Management LLC lifted its holdings in Chemed Co. (NYSE:CHE – Get Rating) by 1.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 137,309 shares of the company's stock after purchasing an additional 1,513 shares during the quarter. Chemed accounts for approximately 2.0% of Copeland Capital Management LLC's holdings, making the stock its 2nd largest position. Copeland Capital Management LLC owned approximately 0.92% of Chemed worth $64,452,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of CHE. Point72 Hong Kong Ltd acquired a new stake in shares of Chemed in the fourth quarter valued at $32,000. UMB Bank N A MO increased its position in Chemed by 347.1% in the 1st quarter. UMB Bank N A MO now owns 76 shares of the company's stock worth $39,000 after purchasing an additional 59 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Chemed during the 1st quarter valued at about $46,000. Signaturefd LLC increased its holdings in shares of Chemed by 69.6% during the 1st quarter. Signaturefd LLC now owns 95 shares of the company's stock valued at $48,000 after acquiring an additional 39 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in Chemed in the 1st quarter valued at approximately $75,000. Institutional investors own 90.42% of the company's stock.
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Insiders Place Their Bets
In other news, CEO Kevin J. Mcnamara sold 2,000 shares of the firm's stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $474.13, for a total value of $948,260.00. Following the completion of the sale, the chief executive officer now directly owns 124,235 shares in the company, valued at approximately $58,903,540.55. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Kevin J. Mcnamara sold 2,000 shares of the firm's stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $474.13, for a total value of $948,260.00. Following the transaction, the chief executive officer now owns 124,235 shares of the company's stock, valued at approximately $58,903,540.55. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Kevin J. Mcnamara sold 3,000 shares of Chemed stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $481.93, for a total transaction of $1,445,790.00. Following the transaction, the chief executive officer now directly owns 125,185 shares in the company, valued at approximately $60,330,407.05. The disclosure for this sale can be found here. Company insiders own 4.03% of the company's stock.
Chemed Stock Down 1.1 %
Shares of Chemed stock traded down $4.80 during trading on Friday, reaching $451.95. The stock had a trading volume of 104,545 shares, compared to its average volume of 71,849. Chemed Co. has a 52 week low of $403.00 and a 52 week high of $539.87. The company has a market capitalization of $6.73 billion, a price-to-earnings ratio of 25.14, a P/E/G ratio of 3.43 and a beta of 0.51. The company has a current ratio of 0.71, a quick ratio of 0.68 and a debt-to-equity ratio of 0.16. The stock has a fifty day moving average price of $481.91 and a two-hundred day moving average price of $485.57.
Chemed (NYSE:CHE – Get Rating) last posted its earnings results on Wednesday, July 27th. The company reported $4.84 EPS for the quarter, beating the consensus estimate of $4.78 by $0.06. Chemed had a return on equity of 44.64% and a net margin of 12.95%. The company had revenue of $531.29 million for the quarter, compared to the consensus estimate of $538.07 million. During the same quarter in the prior year, the business earned $4.60 earnings per share. The firm's revenue for the quarter was down .2% on a year-over-year basis. Sell-side analysts predict that Chemed Co. will post 18.72 EPS for the current fiscal year.
Chemed Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, September 2nd. Shareholders of record on Monday, August 15th were issued a dividend of $0.38 per share. This is an increase from Chemed's previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend was Friday, August 12th. Chemed's dividend payout ratio (DPR) is presently 8.45%.
Wall Street Analysts Forecast Growth
Separately, Royal Bank of Canada cut their target price on Chemed from $592.00 to $541.00 and set an "outperform" rating for the company in a research report on Monday, August 1st.
Chemed Profile
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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 two segments, VITAS and Roto-Rooter. 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.
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