Eastern (NASDAQ:EML) Director Frederick Disanto Purchases 1,000 Shares of Stock

Eastern Company (The) (NASDAQ:EML) Director Frederick Disanto bought 1,000 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were acquired at an average price of $21.25 per share, for a total transaction of $21,250.00. Following the transaction, the director directly owned 102,356 shares in the company, valued at $2,175,065. This trade represents a 0.99% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Eastern Stock Performance

NASDAQ EML opened at $21.75 on Friday. The company has a current ratio of 3.52, a quick ratio of 1.64 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average is $21.55 and its two-hundred day moving average is $20.00. Eastern Company has a 12-month low of $17.61 and a 12-month high of $26.77. The stock has a market capitalization of $131.15 million, a price-to-earnings ratio of 22.66 and a beta of 0.87.

Eastern (NASDAQ:EML) last released its 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). Eastern had a return on equity of 5.46% and a net margin of 2.41%.The business had revenue of $59.68 million for the quarter, compared to analyst estimates of $67.74 million.

Eastern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 15th will be given a dividend of $0.11 per share. The ex-dividend date is Friday, May 15th. This represents a $0.44 annualized dividend and a yield of 2.0%. Eastern’s payout ratio is presently 45.83%.

Analyst Ratings Changes

Separately, Royal Bank Of Canada cut Eastern from a “moderate buy” rating to a “hold” rating in a research report on Monday, April 13th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold”.

Institutional Investors Weigh In On Eastern

Several institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC boosted its stake in shares of Eastern by 15.6% during the 1st quarter. Renaissance Technologies LLC now owns 133,237 shares of the industrial products company’s stock worth $2,697,000 after acquiring an additional 18,000 shares in the last quarter. Sei Investments Co. purchased a new stake in shares of Eastern during the 1st quarter worth approximately $940,000. Fifth Third Bancorp purchased a new stake in shares of Eastern during the 1st quarter worth approximately $73,000. Osaic Holdings Inc. boosted its stake in shares of Eastern by 3,259.7% during the 4th quarter. Osaic Holdings Inc. now owns 13,674 shares of the industrial products company’s stock worth $269,000 after acquiring an additional 13,267 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Eastern by 10.9% during the 4th quarter. Barclays PLC now owns 9,002 shares of the industrial products company’s stock worth $177,000 after acquiring an additional 886 shares in the last quarter. Hedge funds and other institutional investors own 76.99% of the company’s stock.

About Eastern

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.