Eastern (NASDAQ:EML) Director Purchases $35,936.81 in Stock

Eastern Company (The) (NASDAQ:EML) Director James Mitarotonda purchased 1,717 shares of the stock in a transaction dated Monday, March 16th. The shares were acquired at an average cost of $20.93 per share, with a total value of $35,936.81. Following the acquisition, the director directly owned 44,511 shares in the company, valued at $931,615.23. This represents a 4.01% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Eastern Stock Performance

Eastern stock opened at $20.35 on Friday. The company has a quick ratio of 1.55, a current ratio of 3.59 and a debt-to-equity ratio of 0.30. The stock has a market cap of $122.95 million, a PE ratio of 17.39 and a beta of 0.97. Eastern Company has a 12-month low of $17.61 and a 12-month high of $26.77. The business’s 50-day moving average price is $18.75 and its two-hundred day moving average price is $20.40.

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

Analyst Upgrades and Downgrades

EML has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Eastern to a “hold” rating in a report on Saturday, January 10th. Weiss Ratings restated a “hold (c)” rating on shares of Eastern in a research report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, Eastern has an average rating of “Hold”.

Institutional Investors Weigh In On Eastern

Institutional investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. raised its stake in shares of Eastern by 3,259.7% during the fourth quarter. Osaic Holdings Inc. now owns 13,674 shares of the industrial products company’s stock valued at $269,000 after acquiring an additional 13,267 shares during the last quarter. Barclays PLC grew its stake in shares of Eastern by 10.9% in the fourth quarter. Barclays PLC now owns 9,002 shares of the industrial products company’s stock worth $177,000 after purchasing an additional 886 shares during the last quarter. State Street Corp grew its stake in shares of Eastern by 3.6% in the fourth quarter. State Street Corp now owns 74,569 shares of the industrial products company’s stock worth $1,468,000 after purchasing an additional 2,575 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Eastern by 6.2% in the fourth quarter. Wells Fargo & Company MN now owns 133,039 shares of the industrial products company’s stock valued at $2,620,000 after purchasing an additional 7,779 shares during the period. Finally, Barington Companies Management LLC increased its holdings in Eastern by 0.8% in 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 purchasing an additional 4,833 shares during the period. 76.99% of the stock is owned by institutional investors.

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.