Frederick Disanto Purchases 1,000 Shares of Eastern (NASDAQ:EML) Stock

Eastern Company (The) (NASDAQ:EML) Director Frederick Disanto acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was bought at an average cost of $21.25 per share, with a total value of $21,250.00. Following the purchase, the director owned 102,356 shares in the company, valued at $2,175,065. The trade was a 0.99% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Eastern Price Performance

EML stock opened at $21.75 on Friday. The company has a fifty day moving average price of $21.55 and a 200-day moving average price of $20.00. The company has a market capitalization of $131.15 million, a P/E ratio of 22.66 and a beta of 0.87. Eastern Company has a 52-week low of $17.61 and a 52-week high of $26.77. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.64 and a current ratio of 3.52.

Eastern (NASDAQ:EML) last released its quarterly earnings results on Tuesday, May 12th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.39). The business had revenue of $59.68 million for the quarter, compared to the consensus estimate of $67.74 million. Eastern had a net margin of 2.41% and a return on equity of 5.46%.

Eastern Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 15th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $0.44 annualized dividend and a dividend yield of 2.0%. Eastern’s dividend payout ratio (DPR) is presently 45.83%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Eastern

Several large investors have recently modified their holdings of the company. Teton Advisors LLC acquired a new position in Eastern in the third quarter valued at $3,293,000. Minerva Advisors LLC lifted its holdings in Eastern by 1.0% in the third quarter. Minerva Advisors LLC now owns 530,053 shares of the industrial products company’s stock valued at $12,435,000 after buying an additional 5,000 shares during the period. LSV Asset Management lifted its holdings in Eastern by 71.5% in the third quarter. LSV Asset Management now owns 23,403 shares of the industrial products company’s stock valued at $549,000 after buying an additional 9,753 shares during the period. Sei Investments Co. acquired a new position in Eastern in the first quarter valued at $940,000. Finally, Fifth Third Bancorp acquired a new position in Eastern in the first quarter valued at $73,000. 76.99% of the stock is currently owned by institutional investors and hedge funds.

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.