Insider Buying: Eastern (NASDAQ:EML) Director Buys 2,000 Shares of Stock

Eastern Company (The) (NASDAQ:EML) Director James Mitarotonda purchased 2,000 shares of the business’s stock in a transaction on Wednesday, March 18th. The stock was acquired at an average cost of $20.11 per share, with a total value of $40,220.00. Following the completion of the acquisition, the director directly owned 644,342 shares in the company, valued at $12,957,717.62. The trade was a 0.31% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Eastern Price Performance

NASDAQ:EML traded down $0.05 during trading hours on Friday, reaching $20.30. 7,807 shares of the company’s stock were exchanged, compared to its average volume of 16,126. The company has a market capitalization of $122.63 million, a P/E ratio of 17.35 and a beta of 0.97. Eastern Company has a 12 month low of $17.61 and a 12 month 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. The business’s 50-day simple moving average is $18.75 and its two-hundred day simple moving average is $20.40.

Eastern (NASDAQ:EML) last posted its quarterly earnings results 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). Eastern had a net margin of 2.90% and a return on equity of 6.52%.

Hedge Funds Weigh In On Eastern

Several hedge funds have recently bought and sold shares of the business. Barington Companies Management LLC raised its stake in shares of Eastern by 0.8% in the 4th quarter. Barington Companies Management LLC now owns 634,933 shares of the industrial products company’s stock valued at $12,502,000 after acquiring an additional 4,833 shares in the last quarter. Minerva Advisors LLC boosted its holdings in Eastern by 1.0% during the third quarter. Minerva Advisors LLC now owns 530,053 shares of the industrial products company’s stock valued at $12,435,000 after acquiring an additional 5,000 shares during the period. Gamco Investors INC. ET AL grew its position in shares of Eastern by 0.7% in the fourth quarter. Gamco Investors INC. ET AL now owns 515,545 shares of the industrial products company’s stock valued at $10,151,000 after purchasing an additional 3,827 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Eastern by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 388,292 shares of the industrial products company’s stock valued at $7,645,000 after purchasing an additional 1,571 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of Eastern by 0.3% in the third quarter. Russell Investments Group Ltd. now owns 257,126 shares of the industrial products company’s stock worth $6,032,000 after purchasing an additional 775 shares during the period. 76.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.