Peggy Scott Acquires 1,176 Shares of Eastern (NASDAQ:EML) Stock

Eastern Company (The) (NASDAQ:EML) Director Peggy Scott bought 1,176 shares of Eastern stock in a transaction that occurred on Tuesday, June 16th. The shares were bought at an average cost of $21.40 per share, with a total value of $25,166.40. Following the acquisition, the director directly owned 26,262 shares in the company, valued at $562,006.80. This trade represents a 4.69% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Eastern Stock Up 8.0%

Shares of EML opened at $23.68 on Friday. The firm has a market cap of $142.79 million, a P/E ratio of 24.67 and a beta of 0.87. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.64 and a current ratio of 3.52. Eastern Company has a 52 week low of $17.61 and a 52 week high of $26.77. The firm’s 50-day simple moving average is $21.67 and its 200 day simple moving average is $20.07.

Eastern (NASDAQ:EML) last issued its quarterly earnings data on Tuesday, May 12th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.39). Eastern had a return on equity of 5.46% and a net margin of 2.41%.The company had revenue of $59.68 million for the quarter, compared to analyst estimates 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 issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Friday, May 15th. Eastern’s dividend payout ratio (DPR) is presently 45.83%.

Analyst Ratings Changes

Separately, Royal Bank Of Canada lowered Eastern from a “moderate buy” rating to a “hold” rating in a report on Monday, April 13th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Eastern presently has a consensus rating of “Hold”.

Institutional Trading of Eastern

Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its holdings 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 period. Focus Partners Wealth bought a new position in shares of Eastern during the third quarter worth approximately $40,000. Tower Research Capital LLC TRC raised its position in shares of Eastern by 295.9% in the second quarter. Tower Research Capital LLC TRC now owns 1,738 shares of the industrial products company’s stock valued at $40,000 after buying an additional 1,299 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Eastern in the second quarter valued at approximately $70,000. Finally, Fifth Third Bancorp acquired a new stake in Eastern during the first quarter worth approximately $73,000. Institutional investors and hedge funds own 76.99% of the company’s stock.

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.