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

Eastern Company (The) (NASDAQ:EML) Director Frederick Disanto acquired 1,000 shares of the stock in a transaction on Tuesday, June 16th. The shares were acquired at an average price of $21.25 per share, for a total transaction of $21,250.00. Following the acquisition, the director owned 105,424 shares of the company’s stock, valued at approximately $2,240,260. The trade was a 0.96% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Eastern Stock Performance

EML opened at $21.92 on Thursday. The company’s fifty day moving average price is $21.61 and its two-hundred day moving average price is $20.04. The company has a market cap of $132.18 million, a price-to-earnings ratio of 22.83 and a beta of 0.87. The company has a current ratio of 3.52, a quick ratio of 1.64 and a debt-to-equity ratio of 0.29. Eastern Company has a 1-year low of $17.61 and a 1-year high of $26.77.

Eastern (NASDAQ:EML) last announced its earnings results on Tuesday, May 12th. The industrial products company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.39). The firm had revenue of $59.68 million during the quarter, compared to analysts’ expectations of $67.74 million. Eastern had a net margin of 2.41% and a return on equity of 5.46%.

Eastern Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 15th were issued a $0.11 dividend. The ex-dividend date was Friday, May 15th. This represents a $0.44 annualized dividend and a dividend yield of 2.0%. Eastern’s dividend payout ratio is currently 45.83%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Eastern

Several institutional investors have recently added to or reduced their stakes in the stock. Barington Companies Management LLC grew its position in Eastern by 0.8% during the fourth quarter. Barington Companies Management LLC now owns 634,933 shares of the industrial products company’s stock valued at $12,502,000 after buying an additional 4,833 shares during the period. Minerva Advisors LLC grew its position in Eastern by 1.0% during the third quarter. Minerva Advisors LLC now owns 530,053 shares of the industrial products company’s stock valued at $12,435,000 after buying an additional 5,000 shares during the period. Gamco Investors INC. ET AL grew its position in Eastern by 0.7% during the fourth quarter. Gamco Investors INC. ET AL now owns 515,545 shares of the industrial products company’s stock valued at $10,151,000 after buying an additional 3,827 shares during the period. Dimensional Fund Advisors LP grew its position in Eastern by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 388,292 shares of the industrial products company’s stock valued at $7,645,000 after buying an additional 1,571 shares during the period. Finally, Russell Investments Group Ltd. grew its position in Eastern by 0.3% during the third quarter. Russell Investments Group Ltd. now owns 257,126 shares of the industrial products company’s stock valued at $6,032,000 after buying an additional 775 shares during the period. Institutional investors 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.