Eastern Company (The) (NASDAQ:EML - Get Free Report) Director Frederick Disanto bought 1,000 shares of the business's stock in a transaction that occurred on Friday, March 6th. The stock was bought at an average price of $18.39 per share, with a total value of $18,390.00. Following the completion of the transaction, the director directly owned 99,689 shares of the company's stock, valued at $1,833,280.71. This represents a 1.01% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Eastern Trading Up 2.8%
NASDAQ EML opened at $19.05 on Tuesday. The stock's 50-day simple moving average is $18.56 and its two-hundred day simple moving average is $20.55. Eastern Company has a twelve month low of $17.61 and a twelve month high of $28.15. 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 company has a market capitalization of $115.06 million, a price-to-earnings ratio of 16.28 and a beta of 0.97.
Eastern (NASDAQ:EML - Get Free Report) last issued 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 return on equity of 6.52% and a net margin of 2.90%.The firm had revenue of $248.78 billion for the quarter, compared to the consensus estimate of $68.68 million.
Eastern Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 13th will be given a $0.11 dividend. The ex-dividend date is Friday, February 13th. This represents a $0.44 dividend on an annualized basis and a yield of 2.3%. Eastern's payout ratio is presently 37.61%.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of EML. Los Angeles Capital Management LLC bought a new position in Eastern during the 2nd quarter worth approximately $326,000. Teton Advisors LLC purchased a new position in Eastern in the 3rd quarter worth approximately $3,293,000. Minerva Advisors LLC lifted its position in Eastern by 3.8% in the second quarter. Minerva Advisors LLC now owns 525,053 shares of the industrial products company's stock valued at $11,982,000 after purchasing an additional 19,066 shares during the last quarter. De Lisle Partners LLP boosted its stake in shares of Eastern by 14.7% during the second quarter. De Lisle Partners LLP now owns 46,922 shares of the industrial products company's stock valued at $1,072,000 after purchasing an additional 6,000 shares during the period. Finally, LSV Asset Management boosted its stake in shares of Eastern by 20.0% during the fourth quarter. LSV Asset Management now owns 28,086 shares of the industrial products company's stock valued at $553,000 after purchasing an additional 4,683 shares during the period. Hedge funds and other institutional investors own 76.99% of the company's stock.
Analyst Ratings Changes
A number of research analysts have commented on EML shares. Wall Street Zen upgraded shares of Eastern to a "hold" rating in a research report on Saturday, January 10th. Weiss Ratings restated a "hold (c)" rating on shares of Eastern in a report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Eastern currently has a consensus rating of "Hold".
Get Our Latest Report on EML
About Eastern
(
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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.
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