Key Points
- Eastern director Frederick Disanto bought 1,000 shares on June 11 at an average price of $21.25, a $21,250 purchase that lifted his holdings to 102,356 shares.
- The stock has been trading near $21.75, with a 1-year range of $17.61 to $26.77 and a market cap of about $131 million.
- Eastern recently missed earnings estimates, reporting $0.11 EPS versus the expected $0.50, while also announcing a quarterly dividend of $0.11 per share, yielding about 2.0% annually.
Eastern Company (The) (NASDAQ:EML - Get Free Report) Director Frederick Disanto bought 1,000 shares of Eastern stock in a transaction that occurred on Thursday, June 11th. The stock was bought at an average cost of $21.25 per share, for a total transaction of $21,250.00. Following the purchase, the director owned 102,356 shares in the company, valued at $2,175,065. This represents a 0.99% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Eastern Price Performance
EML stock opened at $21.75 on Friday. Eastern Company has a 1 year low of $17.61 and a 1 year high of $26.77. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.64 and a current ratio of 3.52. The stock's 50 day moving average price is $21.55 and its 200 day moving average price is $20.00. The firm has a market cap of $131.15 million, a P/E ratio of 22.66 and a beta of 0.87.
Eastern (NASDAQ:EML - Get Free Report) last posted its earnings results on Tuesday, May 12th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.39). Eastern had a net margin of 2.41% and a return on equity of 5.46%. The company had revenue of $59.68 million during the quarter, compared to analysts' expectations of $67.74 million.
Eastern Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $0.44 dividend on an annualized basis and a yield of 2.0%. Eastern's dividend payout ratio is presently 45.83%.
Analyst Upgrades and Downgrades
Separately, Royal Bank Of Canada lowered Eastern from a "moderate buy" rating to a "hold" rating in a research note on Monday, April 13th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of "Hold".
View Our Latest Report on Eastern
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets raised its holdings 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 last quarter. Gabelli Funds LLC raised its holdings in Eastern by 0.4% in 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 last quarter. First Trust Advisors LP raised its holdings in Eastern by 3.5% in 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 last quarter. Russell Investments Group Ltd. raised its holdings in Eastern by 0.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 257,126 shares of the industrial products company's stock valued at $6,032,000 after acquiring an additional 775 shares during the last quarter. Finally, Barclays PLC raised its holdings in Eastern by 10.9% in the 4th quarter. Barclays PLC now owns 9,002 shares of the industrial products company's stock valued at $177,000 after acquiring an additional 886 shares during the last quarter. 76.99% of the stock is currently owned by institutional investors and hedge funds.
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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