Shell Asset Management Co. Sells 1,490 Shares of Embecta Corp. (NASDAQ:EMBC)

Shell Asset Management Co. decreased its holdings in Embecta Corp. (NASDAQ:EMBC – Get Rating) by 22.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,271 shares of the company’s stock after selling 1,490 shares during the period. Shell Asset Management Co.’s holdings in Embecta were worth $133,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Point72 Hong Kong Ltd bought a new stake in Embecta in the third quarter valued at approximately $66,000. Teacher Retirement System of Texas bought a new stake in Embecta in the third quarter valued at approximately $5,717,000. MetLife Investment Management LLC bought a new stake in Embecta in the third quarter valued at approximately $877,000. Huntington National Bank bought a new position in shares of Embecta during the third quarter worth approximately $64,000. Finally, Yacktman Asset Management LP increased its stake in shares of Embecta by 10.9% during the fourth quarter. Yacktman Asset Management LP now owns 2,566,207 shares of the company’s stock worth $64,899,000 after purchasing an additional 252,977 shares during the period. Institutional investors own 93.45% of the company’s stock.

Insiders Place Their Bets

In related news, Director David F. Melcher acquired 3,100 shares of the stock in a transaction on Wednesday, February 15th. The shares were purchased at an average price of $32.51 per share, for a total transaction of $100,781.00. Following the purchase, the director now directly owns 21,465 shares in the company, valued at $697,827.15. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.22% of the company’s stock.

Embecta Trading Up 6.1 %

Shares of NASDAQ EMBC opened at $30.69 on Friday. Embecta Corp. has a 1-year low of $22.30 and a 1-year high of $36.64. The business’s 50 day moving average is $29.07 and its 200-day moving average is $29.31.

Embecta (NASDAQ:EMBC – Get Rating) last announced its earnings results on Tuesday, February 14th. The company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.44. The company had revenue of $275.70 million for the quarter, compared to analyst estimates of $261.77 million. Embecta had a negative return on equity of 26.60% and a net margin of 14.34%. On average, sell-side analysts forecast that Embecta Corp. will post 2.33 earnings per share for the current fiscal year.

Embecta Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 13th. Shareholders of record on Monday, February 27th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, February 24th. This represents a $0.60 dividend on an annualized basis and a yield of 1.96%.

Embecta Profile

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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 devices, as well as digital applications to assist people with managing their diabetes. The company primarily sells its products to wholesalers and distributors in the United States and internationally.