Eastern Company (The) (EML) To Go Ex-Dividend on August 14th

Eastern Company (The) (NASDAQ:EML) announced a quarterly dividend on Monday, July 20th. Stockholders of record on Friday, August 14th will be given a dividend of 0.11 per share by the industrial products company on Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, August 14th.

Eastern has a dividend payout ratio of 17.2% indicating that its dividend is sufficiently covered by earnings.

Eastern Stock Performance

NASDAQ:EML opened at $24.42 on Wednesday. The firm’s fifty day moving average price is $24.44 and its 200 day moving average price is $21.70. Eastern has a 1-year low of $17.61 and a 1-year high of $29.91. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.52 and a quick ratio of 1.64. The firm has a market cap of $147.25 million, a price-to-earnings ratio of 25.44 and a beta of 0.84.

Eastern (NASDAQ:EML) last issued its quarterly earnings results on Tuesday, August 11th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.52). The firm had revenue of $61.82 million for the quarter, compared to analyst estimates of $73.69 million. Eastern had a return on equity of 5.46% and a net margin of 2.41%.

Insider Buying and Selling at Eastern

In related news, Director Peggy Scott purchased 1,176 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was acquired at an average price of $21.40 per share, for a total transaction of $25,166.40. Following the acquisition, the director directly owned 26,262 shares of the company’s stock, valued at $562,006.80. This trade represents a 4.69% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Everets acquired 1,310 shares of Eastern stock in a transaction that occurred on Tuesday, June 16th. The stock was bought at an average price of $21.40 per share, with a total value of $28,034.00. Following the purchase, the director directly owned 142,504 shares of the company’s stock, valued at approximately $3,049,585.60. This trade represents a 0.93% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders acquired 13,264 shares of company stock valued at $285,179. 18.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets lifted its position in shares of Eastern by 82.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,273 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 577 shares during the period. Focus Partners Wealth acquired a new position in Eastern during the third quarter worth $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 during the last quarter. Raymond James Financial Inc. purchased a new stake in Eastern during the second quarter worth $70,000. Finally, Fifth Third Bancorp purchased a new stake in Eastern during the first quarter worth $73,000. 76.99% of the stock is currently owned by institutional investors and hedge funds.

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.