Eastern (NASDAQ:EML) Director Chan Galbato Purchases 962 Shares

Eastern Company (The) (NASDAQ:EML) Director Chan Galbato acquired 962 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was purchased at an average cost of $20.93 per share, with a total value of $20,134.66. Following the transaction, the director owned 3,227 shares in the company, valued at approximately $67,541.11. This trade represents a 42.47% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Eastern Stock Performance

NASDAQ:EML traded down $0.09 during mid-day trading on Tuesday, hitting $20.45. The stock had a trading volume of 7,465 shares, compared to its average volume of 16,116. Eastern Company has a twelve month low of $17.61 and a twelve month high of $26.82. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.55 and a current ratio of 3.59. The stock has a market cap of $123.53 million, a price-to-earnings ratio of 17.47 and a beta of 0.97. The company’s 50 day simple moving average is $18.64 and its 200 day simple moving average is $20.43.

Eastern (NASDAQ:EML) last announced its quarterly earnings results on Tuesday, March 3rd. The industrial products company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Eastern had a return on equity of 6.52% and a net margin of 2.90%.The business had revenue of $248.78 billion for the quarter, compared to analyst estimates of $68.68 million.

Analyst Ratings Changes

EML has been the subject of several research reports. Wall Street Zen raised Eastern to a “hold” rating in a report on Saturday, January 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Eastern in a research report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Eastern presently has a consensus rating of “Hold”.

Institutional Trading of Eastern

A number of institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets lifted its position in Eastern by 82.9% during the third quarter. BNP Paribas Financial Markets now owns 1,273 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 577 shares during the period. Gabelli Funds LLC increased its holdings in Eastern by 0.4% in the 3rd quarter. Gabelli Funds LLC now owns 165,000 shares of the industrial products company’s stock valued at $3,871,000 after buying an additional 600 shares during the period. First Trust Advisors LP raised its position in shares of Eastern by 3.5% in the 2nd quarter. First Trust Advisors LP now owns 18,455 shares of the industrial products company’s stock valued at $421,000 after buying an additional 617 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Eastern by 0.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 257,126 shares of the industrial products company’s stock worth $6,032,000 after acquiring an additional 775 shares during the period. Finally, Barclays PLC lifted its holdings in shares of Eastern by 10.9% during the 4th quarter. Barclays PLC now owns 9,002 shares of the industrial products company’s stock worth $177,000 after acquiring an additional 886 shares during the period. 76.99% of the stock is currently owned by institutional investors.

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.