Eastern Company (The) (EML) to Issue Quarterly Dividend of $0.11 on September 15th

Eastern Company (The) (NASDAQ:EML) announced a quarterly dividend on Monday, July 20th. Shareholders of record on Friday, August 14th will be paid a dividend of 0.11 per share by the industrial products company on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, August 14th.

Eastern has a dividend payout ratio of 17.2% indicating that its dividend is sufficiently covered by earnings.

Eastern Price Performance

Shares of EML stock opened at $24.72 on Wednesday. Eastern has a twelve month low of $17.61 and a twelve month high of $29.91. The company has a current ratio of 3.52, a quick ratio of 1.64 and a debt-to-equity ratio of 0.29. The stock has a fifty day simple moving average of $23.40 and a two-hundred day simple moving average of $21.08. The stock has a market capitalization of $149.06 million, a price-to-earnings ratio of 25.75 and a beta of 0.82.

Eastern (NASDAQ:EML) last announced its quarterly earnings results on Tuesday, May 12th. The industrial products company reported $0.11 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $67.74 million.

Analysts Set New Price Targets

EML has been the topic of a number of research reports. Royal Bank Of Canada downgraded shares of Eastern from a “moderate buy” rating to a “hold” rating in a research report on Monday, April 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Eastern in a research report on Wednesday, June 24th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Eastern 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.