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

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Chemed Co. (NYSE:CHE) in the third quarter, Holdings Channel.com reports. The firm acquired 6,382 shares of the company’s stock, valued at approximately $3,835,000.

A number of other large investors have also made changes to their positions in CHE. GAMMA Investing LLC lifted its position in shares of Chemed by 34.4% in the 2nd quarter. GAMMA Investing LLC now owns 86 shares of the company’s stock worth $47,000 after acquiring an additional 22 shares during the period. American National Bank & Trust acquired a new position in shares of Chemed in the third quarter valued at $61,000. Mather Group LLC. lifted its position in Chemed by 60.5% in the second quarter. Mather Group LLC. now owns 183 shares of the company’s stock worth $99,000 after purchasing an additional 69 shares during the period. Quarry LP boosted its stake in Chemed by 721.7% during the second quarter. Quarry LP now owns 189 shares of the company’s stock worth $103,000 after buying an additional 166 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in Chemed in the 1st quarter valued at $171,000. Institutional investors and hedge funds own 95.85% of the company’s stock.

Chemed Stock Up 1.4 %

Shares of Chemed stock opened at $570.96 on Friday. Chemed Co. has a 12-month low of $523.33 and a 12-month high of $654.62. The stock has a market capitalization of $8.59 billion, a P/E ratio of 28.85, a price-to-earnings-growth ratio of 2.39 and a beta of 0.46. The company has a 50-day simple moving average of $579.08 and a 200 day simple moving average of $565.16.

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

Chemed Dividend Announcement

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

Analyst Upgrades and Downgrades

CHE has been the subject of several recent research reports. StockNews.com lowered shares of Chemed from a “buy” rating to a “hold” rating in a research report on Friday. Royal Bank of Canada cut their target price on Chemed from $697.00 to $633.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th.

Insider Activity at Chemed

In other news, CEO Kevin J. Mcnamara sold 2,000 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $598.81, for a total transaction of $1,197,620.00. Following the sale, the chief executive officer now directly owns 103,735 shares of the company’s stock, valued at $62,117,555.35. This represents a 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Nicholas Michael Westfall sold 1,713 shares of the business’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 completion of the transaction, the executive vice president now owns 6,109 shares of the company’s stock, valued at $3,478,159.15. This trade represents a 21.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,113 shares of company stock valued at $2,411,905 over the last ninety days. 3.32% of the stock is owned by insiders.

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.