Eastern (NASDAQ:EML) Director Purchases $18,390.00 in Stock

Eastern Company (The) (NASDAQ:EML) Director Frederick Disanto bought 1,000 shares of Eastern stock in a transaction dated Friday, March 6th. The stock was acquired at an average cost of $18.39 per share, with a total value of $18,390.00. Following the transaction, the director owned 99,689 shares of the company’s stock, valued at $1,833,280.71. This trade represents a 1.01% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Eastern Trading Up 5.3%

EML stock opened at $20.16 on Thursday. Eastern Company has a 52 week low of $17.61 and a 52 week high of $27.20. The company has a market capitalization of $121.77 million, a PE ratio of 17.23 and a beta of 0.97. The company’s 50-day simple moving average is $18.57 and its 200 day simple moving average is $20.52. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.55 and a current ratio of 3.59.

Eastern (NASDAQ:EML) last posted its quarterly earnings data on Tuesday, March 3rd. The industrial products company reported $0.31 earnings per share (EPS) 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%. The business had revenue of $248.78 billion during the quarter, compared to the consensus estimate of $68.68 million.

Eastern Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 13th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Friday, February 13th. Eastern’s dividend payout ratio (DPR) is 37.61%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Eastern

A number of large investors have recently modified their holdings of EML. Los Angeles Capital Management LLC bought a new position in shares of Eastern in the 2nd quarter valued at $326,000. Teton Advisors LLC bought a new stake in shares of Eastern during the 3rd quarter worth $3,293,000. Minerva Advisors LLC boosted its stake in Eastern by 3.8% in the second quarter. Minerva Advisors LLC now owns 525,053 shares of the industrial products company’s stock valued at $11,982,000 after buying an additional 19,066 shares in the last quarter. De Lisle Partners LLP grew its position in Eastern by 14.7% in the second quarter. De Lisle Partners LLP now owns 46,922 shares of the industrial products company’s stock valued at $1,072,000 after acquiring an additional 6,000 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Eastern by 295.9% in the second quarter. Tower Research Capital LLC TRC now owns 1,738 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 1,299 shares during the last quarter. Institutional investors and hedge funds 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.