Eastern (NASDAQ:EML) Director Peggy Scott Purchases 1,176 Shares

Eastern Company (The) (NASDAQ:EML) Director Peggy Scott bought 1,176 shares of Eastern stock in a transaction that occurred on Tuesday, June 16th. The shares were acquired at an average price of $21.40 per share, with a total value of $25,166.40. Following the acquisition, the director directly owned 26,262 shares of the company’s stock, valued at $562,006.80. The trade was a 4.69% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Eastern Stock Up 0.1%

EML traded up $0.03 during trading hours on Wednesday, hitting $21.91. 7,983 shares of the company’s stock were exchanged, compared to its average volume of 16,906. Eastern Company has a 1-year low of $17.61 and a 1-year high of $26.77. The stock’s 50-day moving average is $21.59 and its two-hundred day moving average is $20.03. The stock has a market cap of $132.12 million, a price-to-earnings ratio of 22.82 and a beta of 0.87. 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 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). Eastern had a return on equity of 5.46% and a net margin of 2.41%.The business had revenue of $59.68 million for the quarter, compared to analyst estimates of $67.74 million.

Eastern Dividend Announcement

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

Analyst Ratings Changes

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

Institutional Trading of Eastern

A number of hedge funds have recently modified their holdings of EML. Goldman Sachs Group Inc. lifted its stake in shares of Eastern by 43.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,533 shares of the industrial products company’s stock worth $520,000 after buying an additional 6,219 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Eastern by 7.1% during the 1st quarter. Empowered Funds LLC now owns 31,855 shares of the industrial products company’s stock worth $807,000 after buying an additional 2,100 shares during the last quarter. Strs Ohio acquired a new stake in shares of Eastern during the 1st quarter worth about $127,000. Geode Capital Management LLC lifted its stake in shares of Eastern by 6.3% during the 2nd quarter. Geode Capital Management LLC now owns 138,918 shares of the industrial products company’s stock worth $3,171,000 after buying an additional 8,205 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of Eastern by 3.5% during the 2nd quarter. First Trust Advisors LP now owns 18,455 shares of the industrial products company’s stock worth $421,000 after buying an additional 617 shares during the last quarter. Institutional investors and hedge funds 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.