Chemed Co. (NYSE:CHE) Stock Position Lowered by Martingale Asset Management L P

Martingale Asset Management L P reduced its position in shares of Chemed Co. (NYSE:CHE - Free Report) by 12.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,132 shares of the company's stock after selling 3,861 shares during the period. Martingale Asset Management L P owned about 0.19% of Chemed worth $14,904,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Chemed

In other news, CEO Kevin J. Mcnamara sold 2,000 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $593.67, for a total value of $1,187,340.00. Following the completion of the sale, the chief executive officer now directly owns 102,679 shares of the company's stock, valued at approximately $60,957,441.93. This represents a 1.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 3.32% of the stock is owned by company insiders.

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Analyst Ratings Changes

A number of analysts have recently weighed in on CHE shares. Royal Bank of Canada increased their price target on Chemed from $633.00 to $667.00 and gave the stock an "outperform" rating in a research report on Friday, March 14th. StockNews.com upgraded Chemed from a "hold" rating to a "buy" rating in a research note on Friday, March 7th.

Chemed Stock Performance

Shares of NYSE:CHE traded up $1.69 during trading hours on Monday, hitting $595.08. The stock had a trading volume of 17,766 shares, compared to its average volume of 96,989. The stock's fifty day simple moving average is $583.16 and its 200 day simple moving average is $567.72. The firm has a market capitalization of $8.70 billion, a price-to-earnings ratio of 30.07, a PEG ratio of 2.15 and a beta of 0.49. Chemed Co. has a 1-year low of $512.12 and a 1-year high of $625.09.

Chemed Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, February 24th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend was Monday, February 24th. Chemed's dividend payout ratio is currently 10.05%.

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.