Teton Advisors LLC Invests $3.29 Million in Eastern Company (The) $EML

Teton Advisors LLC purchased a new stake in Eastern Company (The) (NASDAQ:EML) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 140,365 shares of the industrial products company’s stock, valued at approximately $3,293,000. Eastern makes up about 2.0% of Teton Advisors LLC’s investment portfolio, making the stock its 9th biggest holding. Teton Advisors LLC owned 2.31% of Eastern at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Minerva Advisors LLC lifted its position in Eastern by 1.0% during the third quarter. Minerva Advisors LLC now owns 530,053 shares of the industrial products company’s stock worth $12,435,000 after buying an additional 5,000 shares during the period. Gamco Investors INC. ET AL grew its position in Eastern by 1.8% in the second quarter. Gamco Investors INC. ET AL now owns 511,218 shares of the industrial products company’s stock valued at $11,666,000 after acquiring an additional 8,999 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Eastern by 6.3% during the second quarter. Geode Capital Management LLC now owns 138,918 shares of the industrial products company’s stock valued at $3,171,000 after purchasing an additional 8,205 shares during the period. De Lisle Partners LLP raised its stake in shares of Eastern by 14.7% during the second quarter. De Lisle Partners LLP now owns 46,922 shares of the industrial products company’s stock valued at $1,072,000 after purchasing an additional 6,000 shares during the period. Finally, GatePass Capital LLC lifted its position in shares of Eastern by 87.8% during the third quarter. GatePass Capital LLC now owns 33,800 shares of the industrial products company’s stock worth $793,000 after purchasing an additional 15,800 shares in the last quarter. Institutional investors and hedge funds own 76.99% of the company’s stock.

Eastern Stock Performance

Shares of EML opened at $18.54 on Friday. The firm has a market cap of $111.98 million, a price-to-earnings ratio of 15.85 and a beta of 0.97. The company has a quick ratio of 1.30, a current ratio of 3.59 and a debt-to-equity ratio of 0.30. The business’s 50 day moving average is $18.58 and its two-hundred day moving average is $20.61. Eastern Company has a 52-week low of $17.61 and a 52-week high of $28.15.

Eastern (NASDAQ:EML) last released 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). The company had revenue of $248.78 billion for the quarter, compared to analyst estimates of $68.68 million. Eastern had a return on equity of 6.52% and a net margin of 2.90%.

Eastern Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 13th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, February 13th. Eastern’s dividend payout ratio is 37.61%.

Analyst Upgrades and Downgrades

EML has been the subject of several analyst reports. Wall Street Zen upgraded shares of Eastern to a “hold” rating in a research note on Saturday, January 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Eastern in a report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold”.

Insider Buying and Selling at Eastern

In related news, Director James A. Mitarotonda bought 2,433 shares of the business’s stock in a transaction dated Friday, December 12th. The shares were acquired at an average price of $20.14 per share, for a total transaction of $49,000.62. Following the purchase, the director owned 634,933 shares in the company, valued at $12,787,550.62. This trade represents a 0.38% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John Everets purchased 1,435 shares of Eastern stock in a transaction dated Tuesday, December 16th. The shares were bought at an average cost of $19.55 per share, for a total transaction of $28,054.25. Following the transaction, the director directly owned 139,855 shares of the company’s stock, valued at approximately $2,734,165.25. The trade was a 1.04% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have acquired 8,135 shares of company stock valued at $160,414. 17.00% of the stock is owned by company insiders.

Eastern Profile

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.