Chemed (NYSE:CHE) Shares Down 8.7% – Here’s What Happened

Chemed Co. (NYSE:CHE)’s stock price fell 8.7% on Wednesday . The stock traded as low as $554.08 and last traded at $557.00. 14,125 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 83,128 shares. The stock had previously closed at $609.80.

Chemed Stock Down 11.2 %

The stock has a market cap of $8.20 billion, a price-to-earnings ratio of 29.15, a PEG ratio of 2.44 and a beta of 0.44. The company’s fifty day moving average is $587.52 and its two-hundred day moving average is $569.28.

Chemed Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 12th were paid a $0.50 dividend. This is a positive change from Chemed’s previous quarterly dividend of $0.40. This represents a $2.00 annualized dividend and a yield of 0.37%. The ex-dividend date was Monday, August 12th. Chemed’s dividend payout ratio is currently 10.76%.

Insider Buying and Selling at Chemed

In other Chemed news, CEO Kevin J. Mcnamara sold 2,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $569.63, for a total value of $1,139,260.00. Following the transaction, the chief executive officer now directly owns 105,735 shares in the company, valued at $60,229,828.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Kevin J. Mcnamara sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $569.63, for a total transaction of $1,139,260.00. Following the transaction, the chief executive officer now directly owns 105,735 shares in the company, valued at approximately $60,229,828.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Nicholas Michael Westfall sold 1,713 shares of the firm’s stock in a transaction that occurred on 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 approximately $3,478,159.15. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,144 shares of company stock worth $4,141,679 over the last three months. Insiders own 3.32% of the company’s stock.

Hedge Funds Weigh In On Chemed

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC grew its position in Chemed by 2.6% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 580,316 shares of the company’s stock valued at $314,868,000 after buying an additional 14,651 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in Chemed by 2.7% in the second quarter. William Blair Investment Management LLC now owns 475,372 shares of the company’s stock valued at $257,927,000 after acquiring an additional 12,705 shares during the period. Impax Asset Management Group plc lifted its holdings in Chemed by 4.7% in the third quarter. Impax Asset Management Group plc now owns 332,757 shares of the company’s stock valued at $199,977,000 after acquiring an additional 14,814 shares during the period. TD Asset Management Inc lifted its holdings in Chemed by 10.9% in the second quarter. TD Asset Management Inc now owns 282,753 shares of the company’s stock valued at $153,416,000 after acquiring an additional 27,800 shares during the period. Finally, Epoch Investment Partners Inc. lifted its holdings in Chemed by 22.1% in the second quarter. Epoch Investment Partners Inc. now owns 223,134 shares of the company’s stock valued at $121,068,000 after acquiring an additional 40,358 shares during the period. 95.85% of the stock is currently owned by hedge funds and other institutional investors.

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.