Commerce Bank Lowers Holdings in Chemed Co. (NYSE:CHE)

Commerce Bank reduced its position in shares of Chemed Co. (NYSE:CHE - Free Report) by 75.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,505 shares of the company's stock after selling 4,702 shares during the period. Commerce Bank's holdings in Chemed were worth $797,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CHE. UMB Bank n.a. increased its stake in Chemed by 300.0% in the 4th quarter. UMB Bank n.a. now owns 52 shares of the company's stock worth $28,000 after acquiring an additional 39 shares during the last quarter. Atala Financial Inc purchased a new position in shares of Chemed during the fourth quarter worth about $29,000. CBIZ Investment Advisory Services LLC increased its position in shares of Chemed by 64.7% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 56 shares of the company's stock worth $30,000 after purchasing an additional 22 shares during the last quarter. Trust Co. of Vermont purchased a new stake in Chemed in the fourth quarter valued at approximately $34,000. Finally, Tortoise Investment Management LLC lifted its position in Chemed by 77.3% during the fourth quarter. Tortoise Investment Management LLC now owns 78 shares of the company's stock valued at $41,000 after purchasing an additional 34 shares during the last quarter. Institutional investors own 95.85% of the company's stock.

Wall Street Analysts Forecast Growth

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

Chemed Stock Performance

CHE stock opened at $580.09 on Wednesday. The company has a market capitalization of $8.48 billion, a PE ratio of 29.31, a price-to-earnings-growth ratio of 2.15 and a beta of 0.49. Chemed Co. has a one year low of $512.12 and a one year high of $623.61. The company's 50 day moving average price is $586.98 and its two-hundred day moving average price is $567.41.

Chemed Dividend Announcement

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

Insider Activity

In other Chemed news, CEO Kevin J. Mcnamara sold 1,000 shares of Chemed stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $615.33, for a total value of $615,330.00. Following the transaction, the chief executive officer now directly owns 101,679 shares of the company's stock, valued at $62,566,139.07. The trade was a 0.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.32% of the company's stock.

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.

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