State of Michigan Retirement System Boosts Stake in Chemed Co. (NYSE:CHE)

State of Michigan Retirement System raised its holdings in shares of Chemed Co. (NYSE:CHE) by 2.8% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 3,709 shares of the company’s stock after acquiring an additional 100 shares during the period. State of Michigan Retirement System’s holdings in Chemed were worth $2,381,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Chicago Capital LLC bought a new stake in Chemed during the fourth quarter worth about $1,170,000. Raymond James & Associates lifted its stake in Chemed by 5.7% during the fourth quarter. Raymond James & Associates now owns 67,918 shares of the company’s stock worth $39,715,000 after purchasing an additional 3,654 shares during the last quarter. Cim LLC bought a new stake in Chemed during the fourth quarter worth about $1,328,000. Campbell & CO Investment Adviser LLC lifted its stake in Chemed by 715.0% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 5,428 shares of the company’s stock worth $3,174,000 after purchasing an additional 4,762 shares during the last quarter. Finally, Trust Point Inc. bought a new stake in Chemed during the fourth quarter worth about $2,325,000. 95.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Chemed news, Director Patrick P. Grace sold 284 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $540.98, for a total transaction of $153,638.32. Following the completion of the transaction, the director now owns 3,270 shares of the company’s stock, valued at approximately $1,769,004.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Chemed news, CEO Kevin J. Mcnamara sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $567.54, for a total transaction of $2,270,160.00. Following the completion of the transaction, the chief executive officer now owns 108,549 shares of the company’s stock, valued at approximately $61,605,899.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patrick P. Grace sold 284 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $540.98, for a total value of $153,638.32. Following the transaction, the director now directly owns 3,270 shares of the company’s stock, valued at approximately $1,769,004.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,784 shares of company stock valued at $3,240,053. Insiders own 3.32% of the company’s stock.

Chemed Trading Down 0.4 %

NYSE CHE opened at $539.44 on Thursday. Chemed Co. has a 1-year low of $492.84 and a 1-year high of $654.62. The stock has a 50-day moving average of $552.98 and a 200-day moving average of $588.21. The firm has a market cap of $8.17 billion, a PE ratio of 29.03, a price-to-earnings-growth ratio of 2.23 and a beta of 0.43.

Chemed (NYSE:CHE) last released its earnings results on Wednesday, April 24th. The company reported $4.68 earnings per share for the quarter, missing analysts’ consensus estimates of $5.09 by ($0.41). Chemed had a net margin of 12.36% and a return on equity of 30.52%. The company had revenue of $589.23 million during the quarter, compared to the consensus estimate of $587.18 million. As a group, equities research analysts forecast that Chemed Co. will post 21.54 earnings per share for the current fiscal year.

Chemed Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Thursday, May 30th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend was Thursday, May 30th. Chemed’s dividend payout ratio (DPR) is presently 8.61%.

Analyst Ratings Changes

CHE has been the subject of several research analyst reports. Royal Bank of Canada dropped their price target on Chemed from $712.00 to $697.00 and set an “outperform” rating for the company in a research note on Tuesday, May 21st. StockNews.com raised Chemed from a “hold” rating to a “buy” rating in a research note on Saturday, May 4th.

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.