Eastern Company (The) (NASDAQ:EML) to Issue Quarterly Dividend of $0.11

Eastern Company (The) (NASDAQ:EML) announced a quarterly dividend on Wednesday, December 17th. Shareholders of record on Friday, February 13th will be paid a dividend of 0.11 per share by the industrial products company on Friday, March 13th. This represents a c) dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, February 13th.

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

Eastern Stock Performance

Shares of Eastern stock traded up $0.16 on Thursday, reaching $19.81. The stock had a trading volume of 522 shares, compared to its average volume of 10,144. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.30 and a current ratio of 2.99. Eastern has a fifty-two week low of $18.49 and a fifty-two week high of $30.03. The business’s 50-day moving average price is $20.29 and its two-hundred day moving average price is $22.37. The stock has a market cap of $120.22 million, a P/E ratio of 15.97 and a beta of 1.00.

Eastern (NASDAQ:EML) last announced its earnings results on Tuesday, November 4th. The industrial products company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.64). Eastern had a net margin of 2.96% and a return on equity of 7.18%. The business had revenue of $55.34 million for the quarter, compared to the consensus estimate of $73.41 million.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Eastern in a research note on Monday. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Eastern has a consensus rating of “Hold”.

About Eastern

The Eastern Company designs, manufactures, and sells engineered solutions to industrial markets in the United States and internationally. The company offers turnkey returnable packaging solutions, which are used in the assembly processes of vehicles, aircraft, and durable goods, as well as in production processes of plastic packaging products, packaged consumer goods, and pharmaceuticals; designs and manufactures blow mold tools and injection blow mold tooling products, and 2-step stretch blow molds and related components for the stretch blow molding industry; and supplies blow molds and change parts to the food, beverage, healthcare, and chemical industries.