Eastern Company (The) (NASDAQ:EML) Announces $0.11 Quarterly Dividend

Eastern Company (The) (NASDAQ:EML) declared a quarterly dividend on Monday, July 20th. Investors of record on Friday, August 14th will be given a dividend of 0.11 per share by the industrial products company on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, August 14th.

Eastern has a payout ratio of 17.2% indicating that its dividend is sufficiently covered by earnings.

Eastern Trading Down 0.2%

EML opened at $25.48 on Tuesday. The firm has a market cap of $153.64 million, a price-to-earnings ratio of 26.54 and a beta of 0.82. Eastern has a 52 week low of $17.61 and a 52 week high of $29.91. The business’s 50 day moving average is $23.35 and its two-hundred day moving average is $21.05. The company has a quick ratio of 1.64, a current ratio of 3.52 and a debt-to-equity ratio of 0.29.

Eastern (NASDAQ:EML) last issued its quarterly earnings data on Tuesday, May 12th. The industrial products company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates 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 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.