Crossmark Global Holdings Inc. Reduces Stock Holdings in Chemed Co. (NYSE:CHE)

Crossmark Global Holdings Inc. lessened its stake in Chemed Co. (NYSE:CHE) by 5.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 996 shares of the company’s stock after selling 60 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Chemed were worth $599,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CHE. GAMMA Investing LLC boosted its stake in shares of Chemed by 34.4% in the second quarter. GAMMA Investing LLC now owns 86 shares of the company’s stock valued at $47,000 after purchasing an additional 22 shares during the period. American National Bank & Trust purchased a new position in Chemed in the 3rd quarter valued at about $61,000. EntryPoint Capital LLC grew its stake in shares of Chemed by 14.0% during the first quarter. EntryPoint Capital LLC now owns 147 shares of the company’s stock valued at $94,000 after acquiring an additional 18 shares in the last quarter. Mather Group LLC. increased its position in shares of Chemed by 60.5% during the second quarter. Mather Group LLC. now owns 183 shares of the company’s stock worth $99,000 after acquiring an additional 69 shares during the last quarter. Finally, Quarry LP lifted its stake in shares of Chemed by 721.7% in the second quarter. Quarry LP now owns 189 shares of the company’s stock worth $103,000 after acquiring an additional 166 shares in the last quarter. Institutional investors and hedge funds own 95.85% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Kevin J. Mcnamara sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $598.81, for a total value of $1,197,620.00. Following the sale, the chief executive officer now owns 103,735 shares of the company’s stock, valued at approximately $62,117,555.35. This trade represents a 1.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Nicholas Michael Westfall sold 1,713 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $569.35, for a total value of $975,296.55. Following the transaction, the executive vice president now owns 6,109 shares of the company’s stock, valued at $3,478,159.15. This represents a 21.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,313 shares of company stock valued at $2,527,495 over the last 90 days. 3.32% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada lowered their price objective on Chemed from $697.00 to $633.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th.

Chemed Price Performance

Shares of CHE stock opened at $558.64 on Friday. The firm has a market cap of $8.41 billion, a P/E ratio of 28.23, a P/E/G ratio of 2.40 and a beta of 0.46. The firm has a fifty day moving average of $580.37 and a two-hundred day moving average of $565.40. Chemed Co. has a 1-year low of $523.33 and a 1-year high of $654.62.

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

Chemed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date is Monday, November 18th. 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.