Chemed (NYSE:CHE) Trading 7.1% Higher – Here’s Why

Chemed Co. (NYSE:CHE) rose 7.1% on Thursday . The company traded as high as $595.92 and last traded at $584.61. Approximately 131,939 shares changed hands during mid-day trading, an increase of 42% from the average daily volume of 92,597 shares. The stock had previously closed at $545.79.

Analyst Ratings Changes

A number of equities analysts have recently commented on CHE shares. StockNews.com cut shares of Chemed from a “buy” rating to a “hold” rating in a report on Thursday. Royal Bank of Canada lowered their price objective on shares of Chemed from $697.00 to $633.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th.

Chemed Stock Up 2.4 %

The business’s fifty day moving average is $546.69 and its 200 day moving average is $563.45. The stock has a market cap of $9.04 billion, a PE ratio of 30.34, a P/E/G ratio of 2.15 and a beta of 0.48.

Chemed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, February 24th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.33%. The ex-dividend date of this dividend is Monday, February 24th. Chemed’s dividend payout ratio (DPR) is 10.11%.

Insider Activity

In other Chemed news, VP Brian C. Judkins bought 145 shares of the business’s stock in a transaction on Monday, December 30th. The stock was bought at an average price of $519.50 per share, for a total transaction of $75,327.50. Following the completion of the transaction, the vice president now owns 1,678 shares in the company, valued at approximately $871,721. The trade was a 9.46 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.32% of the company’s stock.

Institutional Investors Weigh In On Chemed

A number of large investors have recently added to or reduced their stakes in the company. UMB Bank n.a. raised its position in shares of Chemed by 300.0% in the 4th quarter. UMB Bank n.a. now owns 52 shares of the company’s stock valued at $28,000 after purchasing an additional 39 shares in the last quarter. Atala Financial Inc acquired a new stake in Chemed in the fourth quarter valued at $29,000. CBIZ Investment Advisory Services LLC boosted its stake in Chemed by 64.7% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 56 shares of the company’s stock valued at $30,000 after acquiring an additional 22 shares during the last quarter. Trust Co. of Vermont acquired a new position in Chemed during the 4th quarter worth $34,000. Finally, Tortoise Investment Management LLC grew its holdings in Chemed by 77.3% during the 4th quarter. Tortoise Investment Management LLC now owns 78 shares of the company’s stock worth $41,000 after acquiring an additional 34 shares in the last quarter. 95.85% of the stock is owned by institutional investors and hedge funds.

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.