John Everets Acquires 1,339 Shares of Eastern (NASDAQ:EML) Stock

Eastern Company (The) (NASDAQ:EML) Director John Everets acquired 1,339 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The shares were acquired at an average cost of $20.93 per share, with a total value of $28,025.27. Following the transaction, the director directly owned 141,194 shares in the company, valued at $2,955,190.42. The trade was a 0.96% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Eastern Stock Performance

NASDAQ EML traded down $0.09 during 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. Eastern Company has a 52 week low of $17.61 and a 52 week high of $26.82. The firm has a market cap of $123.53 million, a P/E ratio of 17.47 and a beta of 0.97. The firm has a 50 day moving average price of $18.64 and a 200 day moving average price of $20.43. The company has a quick ratio of 1.55, a current ratio of 3.59 and a debt-to-equity ratio of 0.30.

Eastern (NASDAQ:EML) last announced 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). The company had revenue of $248.78 billion during 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%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of EML. BNP Paribas Financial Markets lifted its position in Eastern by 82.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,273 shares of the industrial products company’s stock worth $30,000 after buying an additional 577 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Eastern by 295.9% during the second quarter. Tower Research Capital LLC TRC now owns 1,738 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 1,299 shares in the last quarter. Focus Partners Wealth bought a new stake in shares of Eastern during the third quarter valued at approximately $40,000. Raymond James Financial Inc. bought a new stake in shares of Eastern during the second quarter valued at approximately $70,000. Finally, Deutsche Bank AG acquired a new stake in shares of Eastern in the fourth quarter valued at approximately $98,000. 76.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on EML shares. Wall Street Zen raised shares of Eastern to a “hold” rating in a research report on Saturday, January 10th. Weiss Ratings restated a “hold (c)” rating on shares of Eastern in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Eastern currently has an average rating of “Hold”.

Eastern Company 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.