Eastern (NASDAQ:EML) Director Purchases $20,699.77 in Stock

Eastern Company (The) (NASDAQ:EML) Director Charles Henry bought 989 shares of Eastern stock in a transaction dated Monday, March 16th. The shares were acquired at an average cost of $20.93 per share, for a total transaction of $20,699.77. Following the completion of the purchase, the director directly owned 79,194 shares of the company’s stock, valued at approximately $1,657,530.42. This trade represents a 1.26% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Eastern Stock Performance

Shares of EML stock opened at $20.35 on Friday. The firm has a market capitalization of $122.95 million, a price-to-earnings ratio of 17.39 and a beta of 0.97. The stock has a fifty day moving average of $18.75 and a 200 day moving average of $20.40. Eastern Company has a 52 week low of $17.61 and a 52 week high of $26.77. The company has a quick ratio of 1.55, a current ratio of 3.59 and a debt-to-equity ratio of 0.30.

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 analysts’ consensus estimates of $0.36 by ($0.05). Eastern had a net margin of 2.90% and a return on equity of 6.52%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Wall Street Zen upgraded Eastern to a “hold” rating in a report on Saturday, January 10th. Weiss Ratings restated a “hold (c)” rating on shares of Eastern in a research report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold”.

Institutional Trading of Eastern

A number of institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets raised its holdings 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 worth $30,000 after buying an additional 577 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Eastern by 295.9% during the second quarter. Tower Research Capital LLC TRC now owns 1,738 shares of the industrial products company’s stock valued at $40,000 after buying an additional 1,299 shares during the last quarter. Focus Partners Wealth bought a new stake in shares of Eastern during the third quarter valued at approximately $40,000. Raymond James Financial Inc. bought a new stake in shares of Eastern during the second quarter valued at approximately $70,000. Finally, Deutsche Bank AG purchased a new position in Eastern in the 4th quarter worth approximately $98,000. 76.99% of the stock is currently owned by institutional investors.

Eastern Company Profile

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.