River Road Asset Management LLC Trims Stock Holdings in Embecta Corp. (NASDAQ:EMBC)

River Road Asset Management LLC reduced its holdings in shares of Embecta Corp. (NASDAQ:EMBC - Free Report) by 3.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 3,477,272 shares of the company's stock after selling 106,418 shares during the period. River Road Asset Management LLC owned about 6.03% of Embecta worth $49,030,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. LSV Asset Management raised its stake in shares of Embecta by 205.6% during the first quarter. LSV Asset Management now owns 110,700 shares of the company's stock valued at $1,469,000 after acquiring an additional 74,480 shares in the last quarter. Sei Investments Co. increased its stake in shares of Embecta by 15.9% during the first quarter. Sei Investments Co. now owns 362,111 shares of the company's stock valued at $4,805,000 after buying an additional 49,551 shares during the period. Inspire Advisors LLC raised its holdings in shares of Embecta by 12.1% in the first quarter. Inspire Advisors LLC now owns 12,341 shares of the company's stock valued at $164,000 after acquiring an additional 1,334 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Embecta by 3.2% in the first quarter. Russell Investments Group Ltd. now owns 59,215 shares of the company's stock worth $786,000 after acquiring an additional 1,827 shares during the period. Finally, Isthmus Partners LLC grew its holdings in Embecta by 49.0% during the 1st quarter. Isthmus Partners LLC now owns 133,266 shares of the company's stock worth $1,768,000 after acquiring an additional 43,844 shares in the last quarter. Hedge funds and other institutional investors own 93.83% of the company's stock.

Embecta Stock Performance

Embecta stock traded up $0.43 during mid-day trading on Tuesday, reaching $14.97. 195,623 shares of the company were exchanged, compared to its average volume of 403,554. The firm has a market cap of $863.77 million, a P/E ratio of 12.12 and a beta of 0.97. The business has a fifty day moving average of $14.63 and a 200 day moving average of $13.60. Embecta Corp. has a 12-month low of $9.93 and a 12-month high of $19.79.

Embecta (NASDAQ:EMBC - Get Free Report) last issued its quarterly earnings data on Friday, August 9th. The company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.28. The company had revenue of $272.50 million for the quarter, compared to the consensus estimate of $267.44 million. Embecta had a negative return on equity of 19.09% and a net margin of 6.23%. The firm's revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.69 earnings per share. Sell-side analysts predict that Embecta Corp. will post 2.43 EPS for the current year.

Embecta Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th were paid a $0.15 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $0.60 annualized dividend and a yield of 4.01%. Embecta's dividend payout ratio (DPR) is 50.00%.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley lowered their price target on shares of Embecta from $13.00 to $12.00 and set an "underweight" rating for the company in a research report on Monday, July 15th.

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.