Connor Clark & Lunn Investment Management Ltd. Invests $3.84 Million in Chemed Co. (NYSE:CHE)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Chemed Co. (NYSE:CHE - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 6,382 shares of the company's stock, valued at approximately $3,835,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CHE. GAMMA Investing LLC increased its position in shares of Chemed by 34.4% in the 2nd quarter. GAMMA Investing LLC now owns 86 shares of the company's stock worth $47,000 after purchasing an additional 22 shares during the last quarter. American National Bank & Trust bought a new stake in Chemed in the third quarter valued at about $61,000. Mather Group LLC. raised its stake in Chemed by 60.5% during the second quarter. Mather Group LLC. now owns 183 shares of the company's stock valued at $99,000 after buying an additional 69 shares in the last quarter. Quarry LP lifted its holdings in Chemed by 721.7% during the 2nd quarter. Quarry LP now owns 189 shares of the company's stock worth $103,000 after buying an additional 166 shares during the last quarter. Finally, LRI Investments LLC acquired a new position in shares of Chemed in the 1st quarter worth approximately $171,000. Hedge funds and other institutional investors own 95.85% of the company's stock.

Insider Activity

In related news, EVP Nicholas Michael Westfall sold 1,713 shares of Chemed stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $569.35, for a total transaction of $975,296.55. Following the sale, the executive vice president now directly owns 6,109 shares in the company, valued at $3,478,159.15. The trade was a 21.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kevin J. Mcnamara sold 2,000 shares of the firm's stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $598.81, for a total transaction of $1,197,620.00. Following the transaction, the chief executive officer now directly owns 103,735 shares in the company, valued at approximately $62,117,555.35. The trade was a 1.89 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,113 shares of company stock valued at $2,411,905. Insiders own 3.32% of the company's stock.

Chemed Stock Performance

Shares of Chemed stock traded up $7.68 on Friday, reaching $570.96. 113,335 shares of the company were exchanged, compared to its average volume of 111,730. Chemed Co. has a 1-year low of $523.33 and a 1-year high of $654.62. The firm has a market cap of $8.59 billion, a price-to-earnings ratio of 28.85, a P/E/G ratio of 2.39 and a beta of 0.46. The company's 50-day moving average is $579.08 and its two-hundred day moving average is $565.00.

Chemed (NYSE:CHE - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $5.64 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $612.22 million. During the same period last year, the firm posted $5.32 EPS. The business's revenue was up 7.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Chemed Co. will post 21.43 earnings per share for the current year.

Chemed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. Chemed's dividend payout ratio (DPR) is presently 10.11%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. StockNews.com lowered Chemed from a "buy" rating to a "hold" rating in a research report on Friday. Royal Bank of Canada reduced their price target 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 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.