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

Embecta Corp. (NASDAQ:EMBC) shares hit a new 52-week high 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 trading hands. 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 paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.21%. Embecta’s dividend payout ratio (DPR) is 50.00%.

Embecta Trading Up 29.8 %

The stock has a 50 day simple moving average of $14.33 and a 200-day simple moving average of $14.04. The firm has a market cap of $1.08 billion, a PE ratio of 12.01 and a beta of 0.97.

Institutional Trading of Embecta

Several institutional investors have recently made changes to their positions in EMBC. Quarry LP bought a new position in Embecta in the 3rd quarter worth approximately $30,000. Copeland Capital Management LLC bought a new position in shares of Embecta during the third quarter worth $43,000. Iat Reinsurance Co. LTD. purchased a new position in Embecta during the second quarter valued at $50,000. CWM LLC increased its holdings in Embecta by 773.8% in the 2nd quarter. CWM LLC now owns 9,079 shares of the company’s stock valued at $113,000 after acquiring an additional 8,040 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in Embecta in the 2nd quarter worth $140,000. Hedge funds and other institutional investors own 93.83% of the company’s stock.

About Embecta

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.