Eastern (NASDAQ:EML) Director James Mitarotonda Purchases 1,717 Shares

Eastern Company (The) (NASDAQ:EML) Director James Mitarotonda bought 1,717 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The shares were acquired at an average price of $20.93 per share, with a total value of $35,936.81. Following the completion of the transaction, the director directly owned 44,511 shares of the company’s stock, valued at $931,615.23. This trade represents a 4.01% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Eastern Stock Performance

NASDAQ:EML traded down $0.09 during mid-day trading on Tuesday, hitting $20.45. The company’s stock had a trading volume of 7,465 shares, compared to its average volume of 16,116. The business’s fifty day moving average is $18.64 and its two-hundred day moving average is $20.43. The stock has a market cap of $123.53 million, a price-to-earnings ratio of 17.47 and a beta of 0.97. Eastern Company has a 1 year low of $17.61 and a 1 year high of $26.82. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.59 and a quick ratio of 1.55.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of EML. Teton Advisors LLC purchased a new stake in shares of Eastern during the third quarter worth approximately $3,293,000. Minerva Advisors LLC lifted its holdings in Eastern by 3.8% in the 2nd quarter. Minerva Advisors LLC now owns 525,053 shares of the industrial products company’s stock valued at $11,982,000 after purchasing an additional 19,066 shares in the last quarter. GatePass Capital LLC lifted its holdings in Eastern by 87.8% in the 3rd quarter. GatePass Capital LLC now owns 33,800 shares of the industrial products company’s stock valued at $793,000 after purchasing an additional 15,800 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in Eastern during the 2nd quarter worth $326,000. Finally, Osaic Holdings Inc. boosted its stake in Eastern by 3,259.7% during the 4th quarter. Osaic Holdings Inc. now owns 13,674 shares of the industrial products company’s stock worth $269,000 after purchasing an additional 13,267 shares during the last quarter. Institutional investors and hedge funds own 76.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Eastern in a report on Monday, December 29th. Wall Street Zen raised shares of Eastern to a “hold” rating in a report on Saturday, January 10th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

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.