Eastern (NASDAQ:EML) Director Acquires 1,717 Shares

Eastern Company (The) (NASDAQ:EML) Director James Mitarotonda bought 1,717 shares of the business’s stock in a transaction on Monday, March 16th. The shares were acquired at an average cost of $20.93 per share, for a total transaction of $35,936.81. Following the transaction, the director directly owned 44,511 shares in the company, valued at approximately $931,615.23. This trade represents a 4.01% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

Eastern Stock Down 0.4%

Shares of EML traded down $0.09 during mid-day trading on Tuesday, hitting $20.45. The company’s stock had a trading volume of 7,465 shares, compared to its average volume of 16,116. The company has a current ratio of 3.59, a quick ratio of 1.55 and a debt-to-equity ratio of 0.30. The company’s 50-day moving average is $18.64 and its 200-day moving average is $20.43. Eastern Company has a 52-week low of $17.61 and a 52-week high of $26.82. The firm has a market capitalization of $123.53 million, a price-to-earnings ratio of 17.47 and a beta of 0.97.

Eastern (NASDAQ:EML) last issued its quarterly earnings data on Tuesday, March 3rd. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.05). The business had revenue of $248.78 billion for the quarter, compared to analysts’ expectations of $68.68 million. Eastern had a net margin of 2.90% and a return on equity of 6.52%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wall Street Zen raised Eastern to a “hold” rating in a research report on Saturday, January 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Eastern in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold”.

Institutional Trading of Eastern

Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its position in Eastern by 82.9% in the third quarter. BNP Paribas Financial Markets now owns 1,273 shares of the industrial products company’s stock valued at $30,000 after buying an additional 577 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Eastern by 295.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,738 shares of the industrial products company’s stock worth $40,000 after buying an additional 1,299 shares during the last quarter. Focus Partners Wealth acquired a new stake in Eastern during the 3rd quarter valued at approximately $40,000. Raymond James Financial Inc. acquired a new stake in Eastern during the 2nd quarter valued at approximately $70,000. Finally, Deutsche Bank AG purchased a new stake in shares of Eastern in the 4th quarter valued at $98,000. Hedge funds and other institutional investors own 76.99% of the company’s stock.

About Eastern

Eastern (NASDAQ:EML), based in West Haven, Connecticut, is a diversified industrial manufacturer specializing in secure hardware and metal finishing services. The company operates through two primary segments: Industrial Hardware Products and Security Products, complemented by a Metal Coatings division. Its Industrial Hardware Products segment produces cold-headed fasteners, forgings, hinges and precision components for heavy commercial vehicles, hydraulic cylinders and industrial machinery.

The Security Products segment designs and manufactures a wide range of lock and latch solutions, including padlocks, door hardware, cabinet locks and rental security towers for commercial and institutional applications.