eMagin Corporation $EMA Shares Newly Acquired by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. bought a new stake in eMagin Corporation (NYSE:EMA) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 4,654,934 shares of the company’s stock, valued at approximately $223,735,000.

Other hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company grew its position in eMagin by 6.1% during the second quarter. The Manufacturers Life Insurance Company now owns 1,232,687 shares of the company’s stock worth $65,258,000 after buying an additional 71,020 shares in the last quarter. Cardinal Capital Management Inc. acquired a new position in eMagin in the 3rd quarter valued at approximately $10,613,000. Rathbones Group PLC raised its holdings in eMagin by 0.3% in the 1st quarter. Rathbones Group PLC now owns 58,900 shares of the company’s stock valued at $3,043,000 after acquiring an additional 200 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of eMagin in the 2nd quarter worth approximately $2,926,000. Finally, Greenland Capital Management LP bought a new stake in shares of eMagin in the 2nd quarter worth approximately $2,562,000.

eMagin Price Performance

Shares of NYSE:EMA traded up $0.66 during midday trading on Friday, reaching $47.73. 907,398 shares of the company’s stock were exchanged, compared to its average volume of 445,130. The company’s 50 day simple moving average is $49.11 and its two-hundred day simple moving average is $51.46. eMagin Corporation has a 12 month low of $45.27 and a 12 month high of $55.49.

eMagin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be given a C$0.74 dividend. This represents a $2.96 annualized dividend and a yield of 6.2%. This is a boost from eMagin’s previous quarterly dividend of C$0.73. The ex-dividend date of this dividend is Friday, October 30th.

Analyst Upgrades and Downgrades

EMA has been the topic of several recent research reports. Wall Street Zen raised eMagin from a “strong sell” rating to a “sell” rating in a report on Saturday, October 10th. Weiss Ratings lowered eMagin from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Finally, Barclays reduced their target price on eMagin from $55.00 to $53.00 and set an “equal weight” rating for the company in a research report on Monday, August 10th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $53.00.

eMagin Company Profile

eMagin Corporation was a U.S.-based developer and manufacturer of high-resolution organic light-emitting diode (OLED) microdisplays. Its products were designed for applications requiring compact, lightweight displays with high image quality, including defense, aerospace, medical, industrial, and consumer systems.

The company’s product portfolio included active-matrix OLED microdisplays, display modules, and related display solutions. These technologies were used in applications such as night-vision and thermal-imaging equipment, helmet-mounted and head-up displays, avionics, training systems, and emerging augmented- and virtual-reality devices.

Founded in 1996 and headquartered in Hopewell Junction, New York, eMagin served customers in the United States and international markets, with a significant focus on government and defense programs.