Amalgamated Bank Trims Stock Holdings in Embecta Corp. (NASDAQ:EMBC)

Amalgamated Bank decreased its stake in Embecta Corp. (NASDAQ:EMBC) by 5.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,566 shares of the company’s stock after selling 1,070 shares during the quarter. Amalgamated Bank’s holdings in Embecta were worth $220,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. increased its position in Embecta by 2.7% in the first quarter. Vanguard Group Inc. now owns 7,213,992 shares of the company’s stock worth $95,730,000 after buying an additional 187,916 shares in the last quarter. American Century Companies Inc. increased its position in Embecta by 0.6% in the second quarter. American Century Companies Inc. now owns 3,163,073 shares of the company’s stock worth $39,538,000 after buying an additional 18,933 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Embecta by 1.6% during the second quarter. Bank of New York Mellon Corp now owns 793,585 shares of the company’s stock worth $9,920,000 after purchasing an additional 12,424 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of Embecta by 95.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 643,230 shares of the company’s stock worth $8,536,000 after purchasing an additional 313,951 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Embecta during the fourth quarter worth about $7,653,000. Hedge funds and other institutional investors own 93.83% of the company’s stock.

Embecta Trading Down 0.4 %

Shares of Embecta stock opened at $14.10 on Tuesday. The stock has a 50 day moving average of $15.16 and a 200 day moving average of $13.32. Embecta Corp. has a 12 month low of $9.93 and a 12 month high of $19.79. The firm has a market cap of $813.15 million, a PE ratio of 11.65 and a beta of 1.00.

Embecta (NASDAQ:EMBC) last announced its quarterly earnings results on Friday, August 9th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.28. The company had revenue of $272.50 million during the quarter, compared to analyst estimates 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 was down 4.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.69 earnings per share. As a group, equities research analysts forecast that Embecta Corp. will post 2.43 earnings per share for the current fiscal year.

Embecta Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.26%. The ex-dividend date of this dividend was Tuesday, August 27th. Embecta’s payout ratio is 49.59%.

Wall Street Analysts Forecast Growth

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

Embecta 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.