Key Points
- Director purchase: Eastern director Frederick Disanto bought 1,000 shares on Nov. 17 at $19.39 each, boosting his stake by 1.09% to 92,926 shares valued at about $1.80 million.
- Earnings and revenue miss: The company reported $0.13 EPS vs. a $0.77 consensus and revenue of $55.34 million vs. $73.41 million, resulting in a negative net margin of -3.06% despite a positive ROE of 10.44%.
- Dividend announced: Eastern declared a quarterly dividend of $0.11 per share (annualized $0.44, ~2.3% yield) payable Dec. 15 with an ex-dividend date of Nov. 14.
Eastern Company (The) (NASDAQ:EML - Get Free Report) Director Frederick Disanto acquired 1,000 shares of the business's stock in a transaction that occurred on Monday, November 17th. The shares were purchased at an average cost of $19.39 per share, with a total value of $19,390.00. Following the transaction, the director directly owned 92,926 shares of the company's stock, valued at $1,801,835.14. This trade represents a 1.09% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Eastern Price Performance
Shares of Eastern stock traded up $0.50 during trading on Thursday, reaching $19.30. 609 shares of the company's stock were exchanged, compared to its average volume of 10,057. The company has a market cap of $117.10 million, a P/E ratio of -14.62 and a beta of 0.98. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.33 and a current ratio of 2.67. Eastern Company has a 1-year low of $18.49 and a 1-year high of $31.67. The firm's 50-day moving average price is $22.14 and its 200 day moving average price is $22.85.
Eastern (NASDAQ:EML - Get Free Report) last released its quarterly earnings data on Tuesday, November 4th. The industrial products company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.64). The firm had revenue of $55.34 million for the quarter, compared to analyst estimates of $73.41 million. Eastern had a negative net margin of 3.06% and a positive return on equity of 10.44%.
Eastern Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, November 14th. Eastern's payout ratio is 35.48%.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reiterated a "hold (c)" rating on shares of Eastern in a research report on Thursday, November 13th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of "Hold".
Get Our Latest Research Report on EML
Institutional Investors Weigh In On Eastern
A number of institutional investors have recently modified their holdings of EML. Minerva Advisors LLC lifted its holdings in Eastern by 1.0% in the first quarter. Minerva Advisors LLC now owns 505,987 shares of the industrial products company's stock valued at $12,812,000 after buying an additional 5,009 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Eastern by 43.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 20,533 shares of the industrial products company's stock worth $520,000 after acquiring an additional 6,219 shares in the last quarter. Koss Olinger Consulting LLC acquired a new position in shares of Eastern in the 1st quarter valued at about $591,000. Los Angeles Capital Management LLC bought a new stake in shares of Eastern during the 2nd quarter valued at about $326,000. Finally, Millennium Management LLC acquired a new stake in Eastern during the third quarter worth approximately $202,000. 76.99% of the stock is owned by institutional investors.
Eastern Company Profile
(
Get Free Report)
The Eastern Company designs, manufactures, and sells engineered solutions to industrial markets in the United States and internationally. The company offers turnkey returnable packaging solutions, which are used in the assembly processes of vehicles, aircraft, and durable goods, as well as in production processes of plastic packaging products, packaged consumer goods, and pharmaceuticals; designs and manufactures blow mold tools and injection blow mold tooling products, and 2-step stretch blow molds and related components for the stretch blow molding industry; and supplies blow molds and change parts to the food, beverage, healthcare, and chemical industries.
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