Key Points
- Director James Mitarotonda bought 2,342 shares on March 9 at $18.74 each (total ~$43,889), raising his stake to 642,342 shares—about a 0.37% ownership increase valued at roughly $12.04M.
- Eastern missed quarterly EPS (reported $0.31 vs. $0.36 expected) and shows modest profitability (ROE 6.52%, net margin 2.9%); the stock trades near $19 with a market cap of about $115.7M and a P/E of ~16.4.
- Eastern declared a quarterly dividend of $0.11 (annualized $0.44, yield ~2.3%) payable March 13, with the record/ex-dividend date reported as February 13 and a dividend payout ratio of 37.61%.
Eastern Company (The) (NASDAQ:EML - Get Free Report) Director James Mitarotonda acquired 2,342 shares of the company's stock in a transaction that occurred on Monday, March 9th. The shares were acquired at an average price of $18.74 per share, for a total transaction of $43,889.08. Following the purchase, the director owned 642,342 shares of the company's stock, valued at $12,037,489.08. This trade represents a 0.37% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Eastern Stock Performance
Shares of EML stock opened at $19.15 on Wednesday. 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 business has a 50 day moving average of $18.56 and a two-hundred day moving average of $20.52. Eastern Company has a 52 week low of $17.61 and a 52 week high of $28.04. The company has a market cap of $115.67 million, a P/E ratio of 16.37 and a beta of 0.97.
Eastern (NASDAQ:EML - Get Free Report) last announced its quarterly earnings results on Tuesday, March 3rd. The industrial products company reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.05). The company had revenue of $248.78 billion for the quarter, compared to analyst estimates of $68.68 million. Eastern had a return on equity of 6.52% and a net margin of 2.90%.
Eastern Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 13th will be given a $0.11 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $0.44 annualized dividend and a yield of 2.3%. Eastern's dividend payout ratio (DPR) is currently 37.61%.
Analyst Ratings Changes
Several brokerages have recently issued reports on EML. Weiss Ratings reissued a "hold (c)" rating on shares of Eastern in a report on Monday, December 29th. Wall Street Zen raised shares of Eastern to a "hold" rating in a report on Saturday, January 10th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of "Hold".
Check Out Our Latest Report on Eastern
Hedge Funds Weigh In On Eastern
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its position 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 valued at $30,000 after acquiring an additional 577 shares during the period. Focus Partners Wealth acquired a new position in Eastern during the 3rd quarter worth $40,000. Tower Research Capital LLC TRC boosted its position in Eastern by 295.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,738 shares of the industrial products company's stock worth $40,000 after acquiring an additional 1,299 shares during the period. Raymond James Financial Inc. bought a new position in shares of Eastern in the second quarter worth $70,000. Finally, Deutsche Bank AG acquired a new position in shares of Eastern during the fourth quarter valued at $98,000. 76.99% of the stock is owned by institutional investors.
Eastern Company Profile
(
Get Free Report)
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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