River Road Asset Management LLC Boosts Position in Embecta Corp. (NASDAQ:EMBC)

River Road Asset Management LLC lifted its holdings in Embecta Corp. (NASDAQ:EMBC - Free Report) by 26.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,310,749 shares of the company's stock after acquiring an additional 697,274 shares during the quarter. River Road Asset Management LLC owned 5.75% of Embecta worth $62,672,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. UBS Group AG purchased a new stake in shares of Embecta in the 3rd quarter worth about $806,000. Dimensional Fund Advisors LP bought a new position in shares of Embecta in the 3rd quarter worth approximately $6,513,000. Envestnet Asset Management Inc. bought a new position in shares of Embecta in the 3rd quarter worth approximately $226,000. Nuveen Asset Management LLC bought a new position in shares of Embecta in the 3rd quarter worth approximately $5,254,000. Finally, Renaissance Technologies LLC bought a new position in shares of Embecta in the 3rd quarter worth approximately $3,095,000. 93.83% of the stock is currently owned by institutional investors.

Embecta Price Performance

Shares of NASDAQ:EMBC traded down $0.11 during trading on Wednesday, hitting $10.24. The company's stock had a trading volume of 363,299 shares, compared to its average volume of 413,012. The company has a 50-day moving average of $13.39 and a 200-day moving average of $15.60. Embecta Corp. has a 12 month low of $9.93 and a 12 month high of $32.00. The firm has a market cap of $589.62 million, a price-to-earnings ratio of 10.78 and a beta of 0.73.

Embecta (NASDAQ:EMBC - Get Free Report) last issued its quarterly earnings data on Friday, February 9th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $264.92 million. During the same quarter in the prior year, the business earned $0.93 EPS. The business's quarterly revenue was up .6% on a year-over-year basis. As a group, research analysts anticipate that Embecta Corp. will post 2.14 earnings per share for the current year.

Embecta Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Wednesday, February 28th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 5.86%. The ex-dividend date of this dividend was Tuesday, February 27th. Embecta's payout ratio is 63.16%.

Insiders Place Their Bets

In related news, Director David F. Melcher acquired 2,000 shares of the business's stock in a transaction on Monday, February 12th. The stock was acquired at an average cost of $16.25 per share, with a total value of $32,500.00. Following the acquisition, the director now directly owns 45,080 shares in the company, valued at approximately $732,550. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.28% of the stock is owned by company insiders.

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.