River Road Asset Management LLC Increases Stake in Embecta Corp. (NASDAQ:EMBC)

River Road Asset Management LLC raised its holdings in shares of Embecta Corp. (NASDAQ:EMBC) by 26.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,310,749 shares of the company’s stock after buying an additional 697,274 shares during the period. River Road Asset Management LLC owned about 5.75% of Embecta worth $62,672,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EMBC. Public Employees Retirement System of Ohio increased its stake in shares of Embecta by 62.4% in the second quarter. Public Employees Retirement System of Ohio now owns 1,374 shares of the company’s stock worth $30,000 after purchasing an additional 528 shares in the last quarter. Signaturefd LLC increased its stake in shares of Embecta by 1,254.4% in the third quarter. Signaturefd LLC now owns 2,316 shares of the company’s stock worth $35,000 after purchasing an additional 2,145 shares in the last quarter. National Bank of Canada FI increased its stake in shares of Embecta by 187.9% in the third quarter. National Bank of Canada FI now owns 2,775 shares of the company’s stock worth $44,000 after purchasing an additional 1,811 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of Embecta in the third quarter worth $44,000. Finally, Allworth Financial LP increased its stake in shares of Embecta by 200.1% in the third quarter. Allworth Financial LP now owns 3,280 shares of the company’s stock worth $49,000 after purchasing an additional 2,187 shares in the last quarter. 93.83% of the stock is owned by hedge funds and other institutional investors.

Embecta Trading Down 1.1 %

Shares of NASDAQ:EMBC traded down $0.11 during midday trading on Wednesday, reaching $10.24. 363,299 shares of the company were exchanged, compared to its average volume of 411,188. The business’s fifty day moving average is $13.67 and its two-hundred day moving average is $15.67. Embecta Corp. has a one year low of $9.93 and a one year high of $32.00. The stock has a market cap of $589.62 million, a PE ratio of 10.66 and a beta of 0.73.

Embecta (NASDAQ:EMBC) last issued its earnings results on Friday, February 9th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.15. Embecta had a net margin of 4.93% and a negative return on equity of 18.66%. The firm had revenue of $277.30 million during the quarter, compared to analyst estimates of $264.92 million. During the same quarter in the prior year, the business earned $0.93 earnings per share. Embecta’s revenue for the quarter was up .6% on a year-over-year basis. As a group, sell-side analysts expect that Embecta Corp. will post 2.14 EPS for the current year.

Embecta Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Wednesday, February 28th were given a dividend of $0.15 per share. The ex-dividend date was Tuesday, February 27th. This represents a $0.60 annualized dividend and a yield of 5.86%. Embecta’s dividend payout ratio (DPR) is currently 63.16%.

Insider Buying and Selling at Embecta

In other news, Director David F. Melcher bought 2,000 shares of the stock in a transaction dated Monday, February 12th. The stock was purchased at an average price of $16.25 per share, for a total transaction of $32,500.00. Following the acquisition, the director now owns 45,080 shares of the company’s stock, valued at $732,550. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.28% of the stock is owned by company insiders.

About Embecta

Embecta Corp., a medical device company, focuses on the provision of various solutions to enhance the health and wellbeing of people living with diabetes. Its products include pen needles, syringes, and safety injection devices, as well as digital applications to assist people with managing patient's diabetes.