Iowa State Bank Cuts Stake in Chemed Co. (NYSE:CHE)

Iowa State Bank trimmed its position in shares of Chemed Co. (NYSE:CHE) by 6.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 700 shares of the company’s stock after selling 50 shares during the period. Iowa State Bank’s holdings in Chemed were worth $371,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its position in shares of Chemed by 4.9% in the fourth quarter. Nordea Investment Management AB now owns 13,639 shares of the company’s stock valued at $7,242,000 after purchasing an additional 635 shares in the last quarter. Central Pacific Bank Trust Division raised its holdings in shares of Chemed by 11.4% during the 4th quarter. Central Pacific Bank Trust Division now owns 880 shares of the company’s stock valued at $466,000 after buying an additional 90 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Chemed by 21.3% during the third quarter. Franklin Resources Inc. now owns 8,800 shares of the company’s stock worth $5,282,000 after acquiring an additional 1,544 shares in the last quarter. Second Line Capital LLC increased its holdings in shares of Chemed by 17.1% in the third quarter. Second Line Capital LLC now owns 4,597 shares of the company’s stock worth $2,763,000 after buying an additional 672 shares during the period. Finally, Geode Capital Management LLC lifted its position in Chemed by 4.9% in the third quarter. Geode Capital Management LLC now owns 335,443 shares of the company’s stock valued at $201,820,000 after purchasing an additional 15,791 shares during the last quarter. Hedge funds and other institutional investors own 95.85% of the company’s stock.

Insider Activity at Chemed

In other news, CEO Kevin J. Mcnamara sold 2,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $572.77, for a total value of $1,145,540.00. Following the completion of the sale, the chief executive officer now owns 101,735 shares in the company, valued at approximately $58,270,755.95. This trade represents a 1.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Spencer S. Lee sold 732 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $575.62, for a total value of $421,353.84. Following the transaction, the executive vice president now directly owns 18,287 shares in the company, valued at approximately $10,526,362.94. This represents a 3.85 % decrease in their position. The disclosure for this sale can be found here. 3.32% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CHE shares. Royal Bank of Canada dropped their price objective on Chemed from $697.00 to $633.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. StockNews.com upgraded Chemed from a “hold” rating to a “buy” rating in a research note on Saturday, November 30th.

Chemed Price Performance

Shares of Chemed stock traded down $3.63 during trading on Monday, hitting $531.37. 22,720 shares of the company’s stock traded hands, compared to its average volume of 59,459. The business has a 50-day simple moving average of $549.03 and a 200-day simple moving average of $562.89. Chemed Co. has a 1 year low of $512.12 and a 1 year high of $654.62. The stock has a market capitalization of $8.00 billion, a P/E ratio of 26.85, a PEG ratio of 2.32 and a beta of 0.46.

Chemed (NYSE:CHE) last released its quarterly earnings results on Tuesday, October 29th. The company reported $5.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $612.22 million. During the same quarter in the prior year, the firm earned $5.32 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, equities analysts predict that Chemed Co. will post 21.43 earnings per share for the current fiscal year.

Chemed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were issued a $0.50 dividend. The ex-dividend date was Monday, November 18th. This represents a $2.00 dividend on an annualized basis and a yield of 0.38%. Chemed’s dividend payout ratio is presently 10.11%.

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.