Dimensional Fund Advisors LP Buys 73,165 Shares of Embecta Corp. (NASDAQ:EMBC)

Dimensional Fund Advisors LP boosted its holdings in shares of Embecta Corp. (NASDAQ:EMBC - Free Report) by 14.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 566,993 shares of the company's stock after buying an additional 73,165 shares during the period. Dimensional Fund Advisors LP owned approximately 0.98% of Embecta worth $11,708,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EMBC. William Blair Investment Management LLC purchased a new position in shares of Embecta in the 4th quarter worth about $15,270,000. Raymond James Financial Inc. purchased a new stake in shares of Embecta during the fourth quarter worth $6,598,000. American Century Companies Inc. boosted its position in Embecta by 8.0% in the 4th quarter. American Century Companies Inc. now owns 3,261,934 shares of the company's stock valued at $67,359,000 after buying an additional 242,668 shares during the period. Brandywine Global Investment Management LLC purchased a new stake in shares of Embecta in the 4th quarter valued at about $4,043,000. Finally, JPMorgan Chase & Co. raised its position in Embecta by 121.1% in the fourth quarter. JPMorgan Chase & Co. now owns 321,126 shares of the company's stock worth $6,631,000 after acquiring an additional 175,857 shares in the last quarter. Institutional investors own 93.83% of the company's stock.

Embecta Stock Up 0.7%

EMBC stock traded up $0.09 during mid-day trading on Tuesday, reaching $12.50. 532,003 shares of the company traded hands, compared to its average volume of 449,714. Embecta Corp. has a fifty-two week low of $10.83 and a fifty-two week high of $21.48. The firm's 50 day moving average price is $12.44 and its 200 day moving average price is $15.75. The stock has a market cap of $726.68 million, a price-to-earnings ratio of 12.50, a P/E/G ratio of 0.78 and a beta of 1.24.

Embecta (NASDAQ:EMBC - Get Free Report) last issued its quarterly earnings results on Friday, May 9th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.04. The business had revenue of $259.00 million for the quarter, compared to analysts' expectations of $261.77 million. Embecta had a net margin of 5.25% and a negative return on equity of 19.22%. The company's revenue was down 9.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.67 EPS. On average, analysts anticipate that Embecta Corp. will post 2.85 EPS for the current fiscal year.

Embecta Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.80%. The ex-dividend date is Wednesday, May 28th. Embecta's payout ratio is 66.67%.

Insider Activity

In related news, Director Milton Mayo Morris sold 3,100 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $16.38, for a total value of $50,778.00. Following the sale, the director now owns 36,133 shares of the company's stock, valued at $591,858.54. The trade was a 7.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.42% of the company's stock.

Wall Street Analyst Weigh In

Separately, Mizuho assumed coverage on shares of Embecta in a report on Thursday, April 10th. They issued a "neutral" rating and a $15.00 price objective on the stock.

Embecta Company Profile

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.