Yacktman Asset Management LP Acquires 20,296 Shares of Embecta Corp. (NASDAQ:EMBC)

Yacktman Asset Management LP raised its stake in shares of Embecta Corp. (NASDAQ:EMBC) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,671,237 shares of the company’s stock after buying an additional 20,296 shares during the period. Yacktman Asset Management LP’s holdings in Embecta were worth $50,567,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in EMBC. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Embecta by 2.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,564 shares of the company’s stock valued at $460,000 after acquiring an additional 834 shares in the last quarter. Cavalier Investments LLC grew its holdings in Embecta by 3.8% during the third quarter. Cavalier Investments LLC now owns 23,012 shares of the company’s stock valued at $346,000 after purchasing an additional 839 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Embecta by 66.2% in the third quarter. Public Employees Retirement System of Ohio now owns 2,284 shares of the company’s stock valued at $34,000 after purchasing an additional 910 shares during the period. Dark Forest Capital Management LP lifted its stake in shares of Embecta by 2.0% in the third quarter. Dark Forest Capital Management LP now owns 48,430 shares of the company’s stock worth $729,000 after buying an additional 943 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in shares of Embecta by 0.9% during the 3rd quarter. Swiss National Bank now owns 125,920 shares of the company’s stock worth $1,895,000 after buying an additional 1,100 shares during the period. Institutional investors and hedge funds own 93.83% of the company’s stock.

Embecta Stock Down 0.4 %

EMBC stock traded down $0.04 during mid-day trading on Friday, reaching $10.36. 136,032 shares of the stock traded hands, compared to its average volume of 408,821. The firm has a market capitalization of $596.53 million, a PE ratio of 10.95 and a beta of 0.73. The business has a 50-day moving average of $12.81 and a two-hundred day moving average of $15.45. Embecta Corp. has a 52 week low of $9.93 and a 52 week high of $32.00.

Embecta (NASDAQ:EMBC) last announced its earnings results on Friday, February 9th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.15. The firm had revenue of $277.30 million during the quarter, compared to the consensus estimate of $264.92 million. Embecta had a negative return on equity of 18.66% and a net margin of 4.93%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.93 EPS. On average, equities research analysts anticipate that Embecta Corp. will post 2.14 EPS for the current fiscal year.

Embecta Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Wednesday, February 28th were given a $0.15 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $0.60 dividend on an annualized basis and a yield of 5.79%. Embecta’s payout ratio is 63.16%.

Insider Activity

In other Embecta news, Director David F. Melcher acquired 2,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were acquired at an average cost of $16.25 per share, for a total transaction of $32,500.00. Following the completion of the acquisition, the director now directly owns 45,080 shares of the company’s stock, valued at approximately $732,550. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.28% of the stock is currently owned by 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.