Eastern (NASDAQ:EML) Shares Pass Below 200-Day Moving Average – Time to Sell?

Eastern Company (The) (NASDAQ:EML) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $21.44 and traded as low as $18.00. Eastern shares last traded at $18.00, with a volume of 15,007 shares.

Wall Street Analyst Weigh In

Several research analysts have recently commented on EML shares. Wall Street Zen upgraded Eastern to a “hold” rating in a research note on Saturday, January 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Eastern in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Eastern has an average rating of “Hold”.

Eastern Trading Down 0.9%

The company has a market cap of $109.26 million, a P/E ratio of 14.52 and a beta of 0.98. The firm’s 50 day moving average is $19.14 and its two-hundred day moving average is $21.44. The company has a quick ratio of 1.30, a current ratio of 2.99 and a debt-to-equity ratio of 0.27.

Eastern (NASDAQ:EML) last posted its quarterly earnings data on Tuesday, November 4th. The industrial products company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.64). The company had revenue of $55.34 million during the quarter, compared to analyst estimates of $73.41 million. Eastern had a return on equity of 7.18% and a net margin of 2.96%.

Eastern Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 13th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, February 13th. Eastern’s dividend payout ratio (DPR) is presently 35.48%.

Insider Buying and Selling

In other Eastern news, Director Frederick D. Disanto bought 2,925 shares of the stock in a transaction on Wednesday, November 19th. The stock was acquired at an average cost of $18.82 per share, for a total transaction of $55,048.50. Following the completion of the acquisition, the director owned 96,851 shares in the company, valued at $1,822,735.82. This trade represents a 3.11% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director John Everets acquired 1,435 shares of the stock in a transaction dated Tuesday, December 16th. The stock was bought at an average price of $19.55 per share, with a total value of $28,054.25. Following the purchase, the director directly owned 139,855 shares in the company, valued at $2,734,165.25. This represents a 1.04% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 17,619 shares of company stock valued at $343,224 over the last 90 days. Company insiders own 17.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets lifted its position 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 in the last quarter. Focus Partners Wealth purchased a new stake in shares of Eastern during the 3rd quarter valued at $40,000. Tower Research Capital LLC TRC raised its position in Eastern by 295.9% in the second quarter. Tower Research Capital LLC TRC now owns 1,738 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 1,299 shares during the period. Raymond James Financial Inc. purchased a new position in Eastern in the second quarter valued at approximately $70,000. Finally, Strs Ohio purchased a new position in shares of Eastern during the 1st quarter valued at $127,000. Institutional investors and hedge funds own 76.99% of the company’s stock.

Eastern Company Profile

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.