Key Points
- Director James Mitarotonda purchased 2,000 shares of Eastern (EML) on March 18 at $20.11 each for $40,220, raising his holdings to 644,342 shares (a 0.31% increase).
- Eastern trades around $20.33 with a market cap of $122.8M, a P/E of 17.38, 50-/200-day moving averages near $18.79/$20.38, and reported quarterly EPS of $0.31, missing estimates by $0.05.
- Approximately 77% of the stock is owned by institutional investors, and analysts' consensus rating for EML is a Hold.
Eastern Company (The) (NASDAQ:EML - Get Free Report) Director James Mitarotonda purchased 2,000 shares of the stock in a transaction dated Wednesday, March 18th. The stock was purchased at an average cost of $20.11 per share, for a total transaction of $40,220.00. Following the completion of the acquisition, the director owned 644,342 shares of the company's stock, valued at approximately $12,957,717.62. This represents a 0.31% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Eastern Price Performance
EML stock opened at $20.33 on Friday. The firm has a 50 day moving average of $18.79 and a 200-day moving average of $20.38. The firm has a market capitalization of $122.79 million, a P/E ratio of 17.38 and a beta of 0.97. Eastern Company has a 12 month low of $17.61 and a 12 month high of $26.77. The company has a current ratio of 3.59, a quick ratio of 1.55 and a debt-to-equity ratio of 0.30.
Eastern (NASDAQ:EML - Get Free Report) last posted its 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). Eastern had a return on equity of 6.52% and a net margin of 2.90%.
Institutional Investors Weigh In On Eastern
A number of hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its stake in shares of 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 purchasing an additional 577 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Eastern by 295.9% in the 2nd 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. Focus Partners Wealth purchased a new position in Eastern in the 3rd quarter worth $40,000. Raymond James Financial Inc. bought a new stake in Eastern in the second quarter worth $70,000. Finally, Deutsche Bank AG purchased a new stake in Eastern during the fourth quarter valued at about $98,000. 76.99% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on EML shares. Wall Street Zen upgraded 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 research 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 Analysis 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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