Key Points
- Insider purchase: Director James Mitarotonda bought 2,433 shares on Dec. 12 at $20.14 each for $49,000.62, raising his direct stake to 634,933 shares (a 0.38% increase) valued at about $12.79M.
- Earnings miss: Eastern reported EPS of $0.13 and revenue of $55.34M (reported Nov. 4), well below analysts' expectations of $0.77 EPS and $73.41M revenue.
- Dividend and stock snapshot: Eastern pays a $0.11 quarterly dividend (2.2% yield), has a market cap of $119.15M and a one‑year trading range of $18.49 to $30.72.
Eastern Company (The) (NASDAQ:EML - Get Free Report) Director James Mitarotonda purchased 2,433 shares of the business's stock in a transaction on Friday, December 12th. The shares were acquired at an average cost of $20.14 per share, with a total value of $49,000.62. Following the acquisition, the director directly owned 634,933 shares in the company, valued at approximately $12,787,550.62. The trade was a 0.38% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Eastern Trading Up 0.4%
EML stock opened at $19.63 on Wednesday. Eastern Company has a one year low of $18.49 and a one year high of $30.72. The stock has a market cap of $119.15 million, a price-to-earnings ratio of 15.83 and a beta of 1.00. The company has a fifty day moving average price of $20.34 and a two-hundred day moving average price of $22.39. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.99 and a quick ratio of 1.30.
Eastern (NASDAQ:EML - Get Free Report) last posted its earnings results on Tuesday, November 4th. The industrial products company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.77 by ($0.64). The company had revenue of $55.34 million for the quarter, compared to analyst estimates of $73.41 million. Eastern had a return on equity of 7.18% and a net margin of 2.96%.
Eastern Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 14th were given a dividend of $0.11 per share. The ex-dividend date was Friday, November 14th. This represents a $0.44 annualized dividend and a yield of 2.2%. Eastern's dividend payout ratio (DPR) is 35.48%.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Eastern in a research report on Monday. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold".
Check Out Our Latest Report on EML
Hedge Funds Weigh In On Eastern
A number of hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets raised its stake in Eastern by 82.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,273 shares of the industrial products company's stock worth $30,000 after purchasing an additional 577 shares in the last quarter. Focus Partners Wealth bought a new position in shares of Eastern during the third quarter worth approximately $40,000. Tower Research Capital LLC TRC increased its holdings in shares of Eastern by 295.9% during the second quarter. Tower Research Capital LLC TRC now owns 1,738 shares of the industrial products company's stock worth $40,000 after purchasing an additional 1,299 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Eastern in the second quarter valued at approximately $70,000. Finally, Strs Ohio bought a new stake in shares of Eastern in the first quarter valued at approximately $127,000. 76.99% of the stock is owned by institutional investors.
About Eastern
(
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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