Key Points
- Director James Mitarotonda bought 1,679 shares of Eastern Company at an average price of $21.40, a transaction worth about $35,931. His holdings rose to 46,190 shares, increasing ownership by 3.77%.
- Eastern’s stock was trading around $21.92, near its 50-day moving average of $21.61 and above its 200-day moving average of $20.04. The company has a market cap of about $132.18 million and a dividend yield of 2.0%.
- The company recently reported weak quarterly results, with earnings of $0.11 per share versus the $0.50 analyst estimate and revenue of $59.68 million versus $67.74 million expected. Analysts currently rate the stock a consensus Hold.
Eastern Company (The) (NASDAQ:EML - Get Free Report) Director Chan Galbato bought 940 shares of the stock in a transaction on Tuesday, June 16th. The shares were bought at an average cost of $21.40 per share, with a total value of $20,116.00. Following the purchase, the director owned 4,167 shares of the company's stock, valued at $89,173.80. This trade represents a 29.13% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Eastern Trading Up 0.2%
Shares of EML stock opened at $21.92 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.52 and a quick ratio of 1.64. The firm has a market cap of $132.18 million, a PE ratio of 22.83 and a beta of 0.87. The company has a 50-day moving average of $21.61 and a two-hundred day moving average of $20.04. Eastern Company has a 1-year low of $17.61 and a 1-year high of $26.77.
Eastern (NASDAQ:EML - Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.39). The business had revenue of $59.68 million for the quarter, compared to analyst estimates of $67.74 million. Eastern had a return on equity of 5.46% and a net margin of 2.41%.
Eastern Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 15th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, May 15th. Eastern's dividend payout ratio is currently 45.83%.
Wall Street Analyst Weigh In
Separately, Royal Bank Of Canada cut shares of Eastern from a "moderate buy" rating to a "hold" rating in a research report on Monday, April 13th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, Eastern currently has a consensus rating of "Hold".
View Our Latest Analysis on Eastern
Institutional Investors Weigh In On Eastern
Large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets increased its holdings in Eastern by 82.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,273 shares of the industrial products company's stock worth $30,000 after purchasing an additional 577 shares during the period. Tower Research Capital LLC TRC increased its holdings 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 purchasing an additional 1,299 shares during the period. Focus Partners Wealth acquired a new stake in Eastern in the third quarter valued at approximately $40,000. Raymond James Financial Inc. acquired a new stake in Eastern in the second quarter valued at approximately $70,000. Finally, Fifth Third Bancorp acquired a new stake in Eastern in the first quarter valued at approximately $73,000. Hedge funds and other institutional investors own 76.99% of the company's stock.
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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