James Mitarotonda Purchases 2,000 Shares of Eastern (NASDAQ:EML) Stock

Eastern Company (The) (NASDAQ:EML) Director James Mitarotonda bought 2,000 shares of the stock in a transaction dated Wednesday, March 18th. The shares were bought at an average cost of $20.11 per share, with a total value of $40,220.00. Following the completion of the acquisition, the director directly owned 644,342 shares of the company’s stock, valued at approximately $12,957,717.62. The trade was a 0.31% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Eastern Stock Performance

Shares of Eastern stock traded down $0.05 on Friday, reaching $20.30. 7,807 shares of the company were exchanged, compared to its average volume of 16,126. Eastern Company has a 1-year low of $17.61 and a 1-year high of $26.77. The firm has a market cap of $122.63 million, a price-to-earnings ratio of 17.35 and a beta of 0.97. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.55 and a current ratio of 3.59. The company’s 50-day moving average is $18.75 and its two-hundred day moving average is $20.40.

Eastern (NASDAQ:EML) last issued its quarterly earnings data on Tuesday, March 3rd. The industrial products company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Eastern had a return on equity of 6.52% and a net margin of 2.90%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Eastern in a report on Monday, December 29th. Wall Street Zen upgraded shares of Eastern to a “hold” rating in a research report on Saturday, January 10th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of EML. BNP Paribas Financial Markets increased its holdings in shares of Eastern by 82.9% during the third quarter. BNP Paribas Financial Markets now owns 1,273 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 577 shares during the period. Focus Partners Wealth acquired a new position in shares of Eastern during the third quarter valued at approximately $40,000. Tower Research Capital LLC TRC raised its holdings in Eastern by 295.9% during the second quarter. Tower Research Capital LLC TRC now owns 1,738 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 1,299 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Eastern during the second quarter worth approximately $70,000. Finally, Deutsche Bank AG acquired a new stake in Eastern in the fourth quarter worth approximately $98,000. 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.