Clark Estates Inc. NY Trims Holdings in Embecta Corp. (NASDAQ:EMBC)

Clark Estates Inc. NY cut its holdings in shares of Embecta Corp. (NASDAQ:EMBC) by 7.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 163,000 shares of the company’s stock after selling 13,100 shares during the quarter. Clark Estates Inc. NY’s holdings in Embecta were worth $2,298,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Copeland Capital Management LLC acquired a new position in Embecta during the third quarter worth approximately $43,000. Iat Reinsurance Co. LTD. purchased a new stake in Embecta during the second quarter valued at about $50,000. CWM LLC increased its stake in Embecta by 773.8% during the second quarter. CWM LLC now owns 9,079 shares of the company’s stock worth $113,000 after acquiring an additional 8,040 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Embecta during the second quarter worth about $140,000. Finally, Cardinal Capital Management raised its holdings in shares of Embecta by 16.8% in the 2nd quarter. Cardinal Capital Management now owns 11,753 shares of the company’s stock worth $147,000 after purchasing an additional 1,691 shares during the period. 93.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, BTIG Research upgraded Embecta from a “neutral” rating to a “buy” rating and set a $26.00 target price for the company in a report on Wednesday.

Embecta Price Performance

Shares of EMBC opened at $18.70 on Wednesday. Embecta Corp. has a 12 month low of $9.93 and a 12 month high of $20.80. The stock’s 50-day moving average is $14.38 and its two-hundred day moving average is $14.07. The stock has a market cap of $1.08 billion, a PE ratio of 15.58 and a beta of 0.97.

Embecta Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, December 6th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.21%. Embecta’s dividend payout ratio (DPR) is presently 50.00%.

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.