Algert Global LLC Invests $346,000 in Eastern Company (The) (NASDAQ:EML)
Algert Global LLC acquired a new stake in shares of Eastern Company (The) (NASDAQ:EML) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 11,523 shares of the industrial products company’s stock, valued at approximately $346,000.
Other hedge funds also recently made changes to their positions in the company. Strs Ohio acquired a new stake in shares of Eastern Company (The) during the second quarter worth $147,000. Spark Investment Management LLC acquired a new stake in shares of Eastern Company (The) during the second quarter worth $306,000. Finally, Bessemer Group Inc. boosted its stake in shares of Eastern Company (The) by 13.5% in the second quarter. Bessemer Group Inc. now owns 20,433 shares of the industrial products company’s stock worth $614,000 after buying an additional 2,433 shares during the period. 56.43% of the stock is owned by institutional investors.
Shares of Eastern Company (EML) opened at 26.75 on Friday. Eastern Company has a 12 month low of $18.48 and a 12 month high of $31.50. The company’s 50-day moving average is $29.64 and its 200-day moving average is $25.56. The stock has a market capitalization of $167.43 million, a PE ratio of 20.91 and a beta of 0.41.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Wednesday, August 16th will be issued a dividend of $0.11 per share. The ex-dividend date is Monday, August 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.64%. Eastern Company (The)’s dividend payout ratio is currently 34.65%.
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In other Eastern Company (The) news, CEO August M. Vlak purchased 5,000 shares of the business’s stock in a transaction dated Friday, May 19th. The shares were acquired at an average price of $25.90 per share, for a total transaction of $129,500.00. Following the acquisition, the chief executive officer now owns 5,000 shares of the company’s stock, valued at $129,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James A. Mitarotonda purchased 50,098 shares of the business’s stock in a transaction dated Friday, May 19th. The shares were acquired at an average price of $25.90 per share, for a total transaction of $1,297,538.20. Following the acquisition, the director now directly owns 3,282 shares in the company, valued at approximately $85,003.80. The disclosure for this purchase can be found here. 13.75% of the stock is currently owned by company insiders.
About Eastern Company (The)
The Eastern Company manufactures and sells industrial hardware, security products and metal products from over six United States operations and seven foreign subsidiaries. The Company maintains over 13 physical locations. It operates through three segments: Industrial Hardware, Security Products and Metal Products.
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