Key Points
- Director Chan Galbato purchased 962 shares at an average price of $20.93 (≈$20,135), increasing his direct stake 42.47% to 3,227 shares valued at roughly $67,541.
- Several other directors (Mardy, Peggy Scott, John Everets, James Mitarotonda, Charles Henry) also bought shares around $20.93, signaling an ongoing insider buying trend.
- Despite the insider purchases, Eastern missed Q4 expectations with an EPS of $0.31 vs. $0.36 and reported slim net margins (~2.9%), highlighting lingering operational and margin risks.
Eastern Company (The) (NASDAQ:EML - Get Free Report) Director Chan Galbato acquired 962 shares of the company's stock in a transaction that occurred on Monday, March 16th. The stock was acquired at an average price of $20.93 per share, with a total value of $20,134.66. Following the acquisition, the director directly owned 3,227 shares of the company's stock, valued at approximately $67,541.11. This represents a 42.47% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.
Eastern Price Performance
Shares of EML opened at $20.13 on Wednesday. The company has a market cap of $121.59 million, a P/E ratio of 17.21 and a beta of 0.97. Eastern Company has a fifty-two week low of $17.61 and a fifty-two week high of $26.82. 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 firm's 50 day moving average price is $18.67 and its 200 day moving average price is $20.40.
Eastern (NASDAQ:EML - Get Free Report) last issued its quarterly earnings results on Tuesday, March 3rd. The industrial products company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.05). Eastern had a net margin of 2.90% and a return on equity of 6.52%. The business had revenue of $248.78 billion during the quarter, compared to analysts' expectations of $68.68 million.
Eastern News Roundup
Here are the key news stories impacting Eastern this week:
- Positive Sentiment: Director Michael J. Mardy bought 1,099 shares at ~$20.93, increasing his stake ~6.5%; suggests insider confidence. SEC Filing
- Positive Sentiment: Director Peggy Scott bought 1,064 shares at ~$20.93 (~$22.3k), raising her ownership ~4.4%. SEC Filing
- Positive Sentiment: Director John Everets acquired 1,339 shares at ~$20.93 (~$28.0k), a ~1% position increase and a meaningful holding size. SEC Filing
- Positive Sentiment: Director Chan Galbato purchased 962 shares at ~$20.93 (a 42% increase in his position), signaling strong insider buying trends. SEC Filing
- Positive Sentiment: Director James A. Mitarotonda acquired 1,717 shares at ~$20.93, boosting his holding ~4.0%. SEC Filing
- Positive Sentiment: Director Charles W. Henry bought 989 shares at ~$20.93, a modest increase to his sizable stake. SEC Filing
- Neutral Sentiment: Crude oil and gasoline rallied amid Middle East supply disruptions; higher energy costs could raise input/transportation expenses for industrial manufacturers like Eastern, an uncertain near-term effect. Barchart Article
- Negative Sentiment: Recent Q4 results (released Mar 3) showed EPS of $0.31 vs. consensus $0.36 and slim net margins (~2.9%), a reminder that operational performance and margin pressure remain risks for the stock. MarketBeat — EML
Hedge Funds Weigh In On Eastern
Several large investors have recently bought and sold shares of EML. Goldman Sachs Group Inc. raised its stake in Eastern by 43.4% in the first quarter. Goldman Sachs Group Inc. now owns 20,533 shares of the industrial products company's stock valued at $520,000 after buying an additional 6,219 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Eastern by 7.1% during the 1st quarter. Empowered Funds LLC now owns 31,855 shares of the industrial products company's stock worth $807,000 after acquiring an additional 2,100 shares in the last quarter. Strs Ohio acquired a new position in shares of Eastern during the 1st quarter worth about $127,000. Los Angeles Capital Management LLC purchased a new position in shares of Eastern in the 2nd quarter valued at about $326,000. Finally, Geode Capital Management LLC increased its holdings in shares of Eastern by 6.3% in the 2nd quarter. Geode Capital Management LLC now owns 138,918 shares of the industrial products company's stock valued at $3,171,000 after acquiring an additional 8,205 shares during the last quarter. Hedge funds and other institutional investors own 76.99% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on EML shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Eastern in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Eastern to a "hold" rating in a research note on Saturday, January 10th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of "Hold".
Check Out Our Latest Report on EML
About Eastern
(
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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