Eastern (NASDAQ:EML) Director Chan Galbato Acquires 962 Shares of Stock

Eastern Company (The) (NASDAQ:EML) Director Chan Galbato bought 962 shares of the business’s stock in a transaction on Monday, March 16th. The shares were acquired at an average price of $20.93 per share, for a total transaction of $20,134.66. Following the completion of the transaction, the director owned 3,227 shares in the company, valued at approximately $67,541.11. This trade represents a 42.47% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Eastern Trading Down 0.4%

Shares of NASDAQ 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. Eastern Company has a one year low of $17.61 and a one year high of $26.82. The company’s fifty day simple moving average is $18.64 and its 200-day simple moving average is $20.43. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.59 and a quick ratio of 1.55. The stock has a market cap of $123.53 million, a price-to-earnings ratio of 17.47 and a beta of 0.97.

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

Hedge Funds Weigh In On Eastern

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EML. Los Angeles Capital Management LLC bought a new position in Eastern in the second quarter valued at approximately $326,000. Teton Advisors LLC bought a new stake in shares of Eastern during the 3rd quarter worth approximately $3,293,000. Minerva Advisors LLC raised its stake in shares of Eastern by 3.8% during the 2nd quarter. Minerva Advisors LLC now owns 525,053 shares of the industrial products company’s stock worth $11,982,000 after purchasing an additional 19,066 shares in the last quarter. De Lisle Partners LLP boosted its holdings in shares of Eastern by 14.7% in the 2nd quarter. De Lisle Partners LLP now owns 46,922 shares of the industrial products company’s stock valued at $1,072,000 after buying an additional 6,000 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Eastern in the 2nd quarter valued at approximately $70,000. 76.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EML has been the subject of a number of recent analyst reports. 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 equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus 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.