Bright Rock Capital Management LLC Makes New $1.06 Million Investment in Chemed Co. (NYSE:CHE)

Bright Rock Capital Management LLC purchased a new position in shares of Chemed Co. (NYSE:CHE - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,000 shares of the company's stock, valued at approximately $1,060,000.

Several other large investors have also recently added to or reduced their stakes in the company. Signal Advisors Wealth LLC boosted its position in shares of Chemed by 60.7% during the 4th quarter. Signal Advisors Wealth LLC now owns 4,995 shares of the company's stock worth $2,647,000 after purchasing an additional 1,886 shares in the last quarter. Sugarloaf Wealth Management LLC lifted its stake in shares of Chemed by 21.9% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 7,150 shares of the company's stock valued at $3,788,000 after purchasing an additional 1,285 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in Chemed by 18.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 3,188 shares of the company's stock worth $1,689,000 after buying an additional 496 shares in the last quarter. Nordea Investment Management AB grew its position in Chemed by 4.9% during the fourth quarter. Nordea Investment Management AB now owns 13,639 shares of the company's stock worth $7,242,000 after buying an additional 635 shares during the period. Finally, Central Pacific Bank Trust Division increased its holdings in Chemed by 11.4% in the fourth 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. 95.85% of the stock is owned by hedge funds and other institutional investors.

Chemed Price Performance

Chemed stock traded up $11.97 during mid-day trading on Wednesday, hitting $546.07. 101,111 shares of the company were exchanged, compared to its average volume of 83,909. Chemed Co. has a 12-month low of $512.12 and a 12-month high of $654.62. The business's 50 day simple moving average is $545.46 and its two-hundred day simple moving average is $562.56. The company has a market capitalization of $8.22 billion, a P/E ratio of 27.59, a PEG ratio of 2.32 and a beta of 0.47.

Chemed (NYSE:CHE - Get Free Report) last released 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). 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 analysts' expectations of $612.22 million. During the same quarter last year, the company posted $5.32 earnings per share. Chemed's revenue for the quarter was up 7.4% on a year-over-year basis. Equities research analysts predict that Chemed Co. will post 21.43 earnings per share for the current year.

Chemed Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $2.00 annualized dividend and a dividend yield of 0.37%. Chemed's payout ratio is currently 10.11%.

Insider Activity at Chemed

In other news, VP Brian C. Judkins acquired 145 shares of the company's stock in a transaction dated Monday, December 30th. The stock was acquired at an average cost of $519.50 per share, for a total transaction of $75,327.50. Following the acquisition, the vice president now directly owns 1,678 shares in the company, valued at approximately $871,721. This represents a 9.46 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Spencer S. Lee sold 732 shares of Chemed stock in a transaction 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 completion of the transaction, the executive vice president now owns 18,287 shares in the company, valued at $10,526,362.94. The trade was a 3.85 % decrease in their position. The disclosure for this sale can be found here. 3.32% of the stock is owned by insiders.

Analyst Ratings Changes

CHE has been the topic of a number of research reports. Royal Bank of Canada lowered their price target on Chemed from $697.00 to $633.00 and set an "outperform" rating on the stock in a report on Tuesday, November 5th. StockNews.com raised Chemed from a "hold" rating to a "buy" rating in a research note on Saturday, November 30th.

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.