Eastern (NASDAQ:EML) Director Purchases $21,250.00 in Stock

Eastern Company (The) (NASDAQ:EML) Director Frederick Disanto bought 1,000 shares of Eastern stock in a transaction on Thursday, June 11th. The stock was acquired at an average price of $21.25 per share, for a total transaction of $21,250.00. Following the transaction, the director directly owned 102,356 shares of the company’s stock, valued at approximately $2,175,065. This trade represents a 0.99% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Eastern Price Performance

NASDAQ:EML opened at $21.75 on Monday. 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 1.64, a current ratio of 3.52 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $131.15 million, a P/E ratio of 22.66 and a beta of 0.87. The stock’s fifty day moving average is $21.55 and its two-hundred day moving average is $20.00.

Eastern (NASDAQ:EML) last posted its earnings results on Tuesday, May 12th. The industrial products company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.39). Eastern had a net margin of 2.41% and a return on equity of 5.46%. The business had revenue of $59.68 million during the quarter, compared to analysts’ expectations of $67.74 million.

Eastern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 15th will be given a $0.11 dividend. The ex-dividend date is Friday, May 15th. This represents a $0.44 dividend on an annualized basis and a yield of 2.0%. Eastern’s payout ratio is currently 45.83%.

Institutional Investors Weigh In On Eastern

Several institutional investors and hedge funds have recently modified their holdings of the company. Teton Advisors LLC purchased a new stake in Eastern during the 3rd quarter worth about $3,293,000. Minerva Advisors LLC increased its holdings in Eastern by 1.0% during the 3rd quarter. Minerva Advisors LLC now owns 530,053 shares of the industrial products company’s stock worth $12,435,000 after purchasing an additional 5,000 shares during the period. LSV Asset Management increased its holdings in Eastern by 71.5% during the 3rd quarter. LSV Asset Management now owns 23,403 shares of the industrial products company’s stock worth $549,000 after purchasing an additional 9,753 shares during the period. Tower Research Capital LLC TRC increased its holdings 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 purchasing an additional 1,299 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in Eastern by 82.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,273 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 577 shares during the period. Hedge funds and other institutional investors own 76.99% of the company’s stock.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada downgraded Eastern from a “moderate buy” rating to a “hold” rating in a report on Monday, April 13th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold”.

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.