Key Points
- Director Peggy Scott acquired 1,140 shares of Eastern on December 16 at an average price of $19.55, increasing her stake to 24,022 shares (a 4.98% ownership rise); the transaction was disclosed in an SEC filing.
- Eastern missed Q earnings and revenue, reporting $0.13 EPS vs. $0.77 expected and $55.34M revenue vs. $73.41M expected; the stock trades around $19.81 with a market cap of ~$120.2M and pays a $0.11 quarterly dividend (≈2.2% yield).
Eastern Company (The) (NASDAQ:EML - Get Free Report) Director Peggy Scott acquired 1,140 shares of Eastern stock in a transaction dated Tuesday, December 16th. The shares were acquired at an average price of $19.55 per share, with a total value of $22,287.00. Following the completion of the acquisition, the director directly owned 24,022 shares of the company's stock, valued at approximately $469,630.10. The trade was a 4.98% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Eastern Stock Up 0.8%
EML traded up $0.16 during midday trading on Thursday, reaching $19.81. 327 shares of the company were exchanged, compared to its average volume of 10,143. The company's fifty day moving average price is $20.29 and its 200 day moving average price is $22.37. Eastern Company has a one year low of $18.49 and a one year high of $30.03. The company has a market cap of $120.22 million, a price-to-earnings ratio of 15.97 and a beta of 1.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.30 and a current ratio of 2.99.
Eastern (NASDAQ:EML - Get Free Report) last released its quarterly earnings results on Tuesday, November 4th. The industrial products company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.77 by ($0.64). The company had revenue of $55.34 million during the quarter, compared to analysts' expectations of $73.41 million. Eastern had a net margin of 2.96% and a return on equity of 7.18%.
Eastern Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 14th were issued 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 payout ratio is 35.48%.
Hedge Funds Weigh In On Eastern
Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets increased its holdings in Eastern by 82.9% during the third quarter. BNP Paribas Financial Markets now owns 1,273 shares of the industrial products company's stock worth $30,000 after buying an additional 577 shares during the last quarter. Gabelli Funds LLC grew its position in shares of Eastern by 0.4% during the 3rd quarter. Gabelli Funds LLC now owns 165,000 shares of the industrial products company's stock valued at $3,871,000 after acquiring an additional 600 shares during the period. First Trust Advisors LP grew its position in shares of Eastern by 3.5% during the 2nd quarter. First Trust Advisors LP now owns 18,455 shares of the industrial products company's stock valued at $421,000 after acquiring an additional 617 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Eastern by 0.3% during the 3rd 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 last quarter. Finally, Bridgeway Capital Management LLC raised its holdings in shares of Eastern by 1.6% in the 3rd quarter. Bridgeway Capital Management LLC now owns 67,001 shares of the industrial products company's stock worth $1,572,000 after purchasing an additional 1,025 shares during the period. Institutional investors own 76.99% of the company's stock.
Analyst Ratings Changes
Separately, Weiss Ratings reiterated a "hold (c)" rating on shares of Eastern in a research note on Monday. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of "Hold".
Check Out Our Latest Research Report on EML
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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