John Everets Purchases 1,310 Shares of Eastern (NASDAQ:EML) Stock

Eastern Company (The) (NASDAQ:EML) Director John Everets purchased 1,310 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was purchased 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 $3,049,585.60. The trade was a 0.93% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Eastern Stock Up 0.2%

Eastern stock traded up $0.04 during trading on Wednesday, reaching $21.92. The stock had a trading volume of 23,365 shares, compared to its average volume of 17,051. Eastern Company has a 52-week low of $17.61 and a 52-week high of $26.77. The business has a 50 day moving average price of $21.59 and a 200 day moving average price of $20.03. The company has a quick ratio of 1.64, a current ratio of 3.52 and a debt-to-equity ratio of 0.29. The stock has a market cap of $132.18 million, a PE ratio of 22.83 and a beta of 0.87.

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

Eastern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 15th were paid a $0.11 dividend. The ex-dividend date was Friday, May 15th. This represents a $0.44 dividend on an annualized basis and a yield of 2.0%. Eastern’s payout ratio is currently 45.83%.

Institutional Trading of Eastern

Several institutional investors and hedge funds have recently bought and sold shares of EML. BNP Paribas Financial Markets raised its position in Eastern by 82.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,273 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 577 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Eastern by 295.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,738 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 1,299 shares during the last quarter. Focus Partners Wealth purchased a new stake in Eastern in the 3rd quarter valued at $40,000. Raymond James Financial Inc. purchased a new stake in Eastern in the 2nd quarter valued at $70,000. Finally, Fifth Third Bancorp purchased a new stake in Eastern in the 1st quarter valued at $73,000. Hedge funds and other institutional investors own 76.99% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada cut shares of Eastern from a “moderate buy” rating to a “hold” rating in a report on Monday, April 13th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average 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.