Embecta (NASDAQ:EMBC) Sets New 1-Year High Following Dividend Announcement

Embecta Corp. (NASDAQ:EMBC) reached a new 52-week high during mid-day trading on Tuesday following a dividend announcement from the company. The stock traded as high as $20.80 and last traded at $20.62, with a volume of 390469 shares. The stock had previously closed at $14.41.

The newly announced dividend which will be paid on Wednesday, December 18th. Investors of record on Friday, December 6th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.91%. Embecta’s payout ratio is 50.00%.

Embecta Stock Up 43.1 %

The stock has a market capitalization of $1.19 billion, a PE ratio of 12.01 and a beta of 0.97. The firm has a 50 day moving average price of $14.33 and a 200 day moving average price of $14.04.

Institutional Trading of Embecta

Institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC boosted its holdings in shares of Embecta by 11.3% in the third quarter. CWM LLC now owns 10,102 shares of the company’s stock worth $142,000 after acquiring an additional 1,023 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Embecta by 4.8% during the second quarter. The Manufacturers Life Insurance Company now owns 22,212 shares of the company’s stock valued at $278,000 after buying an additional 1,025 shares during the period. SummerHaven Investment Management LLC raised its position in Embecta by 3.4% during the second quarter. SummerHaven Investment Management LLC now owns 36,198 shares of the company’s stock valued at $452,000 after purchasing an additional 1,179 shares in the last quarter. Bayesian Capital Management LP raised its position in Embecta by 13.3% during the first quarter. Bayesian Capital Management LP now owns 12,751 shares of the company’s stock valued at $169,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Ceera Investments LLC raised its position in Embecta by 0.9% during the second quarter. Ceera Investments LLC now owns 178,353 shares of the company’s stock valued at $2,229,000 after purchasing an additional 1,514 shares in the last quarter. 93.83% of the stock is owned by hedge funds and other institutional investors.

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.