Connor Clark & Lunn Investment Management Ltd. Buys New Position in Chemed Co. (NYSE:CHE)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Chemed Co. (NYSE:CHE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 6,382 shares of the company’s stock, valued at approximately $3,835,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CHE. GAMMA Investing LLC lifted its position in Chemed by 34.4% in the second quarter. GAMMA Investing LLC now owns 86 shares of the company’s stock worth $47,000 after purchasing an additional 22 shares during the period. American National Bank & Trust acquired a new position in shares of Chemed during the 3rd quarter valued at $61,000. Mather Group LLC. raised its stake in shares of Chemed by 60.5% in the 2nd quarter. Mather Group LLC. now owns 183 shares of the company’s stock worth $99,000 after buying an additional 69 shares in the last quarter. Quarry LP lifted its holdings 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 buying an additional 166 shares during the period. Finally, LRI Investments LLC acquired a new position in Chemed during the first quarter worth about $171,000. 95.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CHE shares. Royal Bank of Canada reduced their price objective 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 shares of Chemed from a “buy” rating to a “hold” rating in a research report on Friday.

Insider Buying and Selling

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

Chemed Trading Up 1.4 %

Shares of CHE opened at $570.96 on Friday. Chemed Co. has a 1-year low of $523.33 and a 1-year high of $654.62. The business’s 50-day moving average price is $579.08 and its 200 day moving average price is $565.16. The stock has a market capitalization of $8.59 billion, a P/E ratio of 28.85, a P/E/G ratio of 2.39 and a beta of 0.46.

Chemed (NYSE:CHE) last issued 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). Chemed had a net margin of 12.69% and a return on equity of 27.86%. The firm had revenue of $606.18 million during the quarter, compared to analysts’ expectations of $612.22 million. During the same quarter last year, the company posted $5.32 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year. On average, research analysts predict that Chemed Co. will post 21.43 earnings per share for the current year.

Chemed Announces Dividend

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

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.