Eastern (NASDAQ:EML) Director Chan Galbato Purchases 940 Shares

Eastern Company (The) (NASDAQ:EML) Director Chan Galbato bought 940 shares of Eastern stock in a transaction dated Tuesday, June 16th. The stock was acquired at an average price of $21.40 per share, with a total value of $20,116.00. Following the completion of the transaction, the director directly owned 4,167 shares of the company’s stock, valued at approximately $89,173.80. The trade was a 29.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Eastern Price Performance

Shares of NASDAQ EML opened at $21.92 on Thursday. The company has a quick ratio of 1.64, a current ratio of 3.52 and a debt-to-equity ratio of 0.29. Eastern Company has a 52 week low of $17.61 and a 52 week high of $26.77. The firm has a 50-day simple moving average of $21.61 and a 200-day simple moving average of $20.04. The stock has a market capitalization of $132.18 million, a price-to-earnings ratio of 22.83 and a beta of 0.87.

Eastern (NASDAQ:EML) last announced its quarterly earnings data on Tuesday, May 12th. The industrial products company reported $0.11 earnings per share (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 firm had revenue of $59.68 million during the quarter, compared to analysts’ expectations of $67.74 million.

Eastern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 15th were issued a $0.11 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.0%. Eastern’s dividend payout ratio is currently 45.83%.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada lowered shares of 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, According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets boosted its stake in Eastern by 82.9% during 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 period. Gabelli Funds LLC boosted its stake in Eastern by 0.4% during the third quarter. Gabelli Funds LLC now owns 165,000 shares of the industrial products company’s stock worth $3,871,000 after buying an additional 600 shares during the period. First Trust Advisors LP boosted its stake in Eastern by 3.5% during the second quarter. First Trust Advisors LP now owns 18,455 shares of the industrial products company’s stock worth $421,000 after buying an additional 617 shares during the period. Russell Investments Group Ltd. boosted its stake in Eastern by 0.3% during the third quarter. Russell Investments Group Ltd. now owns 257,126 shares of the industrial products company’s stock worth $6,032,000 after buying an additional 775 shares during the period. Finally, Barclays PLC boosted its stake in Eastern by 10.9% during the fourth quarter. Barclays PLC now owns 9,002 shares of the industrial products company’s stock worth $177,000 after buying an additional 886 shares during the period. Hedge funds and other institutional investors own 76.99% of the company’s stock.

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.