Eastern (NASDAQ:EML) Director Purchases $23,002.07 in Stock

Eastern Company (The) (NASDAQ:EML) Director Michael Mardy bought 1,099 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were purchased at an average price of $20.93 per share, for a total transaction of $23,002.07. Following the purchase, the director owned 18,065 shares in the company, valued at $378,100.45. This represents a 6.48% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Eastern Trading Up 1.0%

EML stock opened at $20.35 on Friday. Eastern Company has a 1-year low of $17.61 and a 1-year high of $26.77. The business has a 50 day simple moving average of $18.75 and a two-hundred day simple moving average of $20.40. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.59 and a quick ratio of 1.55. The company has a market capitalization of $122.95 million, a price-to-earnings ratio of 17.39 and a beta of 0.97.

Eastern (NASDAQ:EML) last issued its earnings results 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 return on equity of 6.52% and a net margin of 2.90%.

Analyst Upgrades and Downgrades

EML has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Eastern in a report on Monday, December 29th. Wall Street Zen upgraded Eastern to a “hold” rating in a research report on Saturday, January 10th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets raised its stake in Eastern by 82.9% in the third 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. Gabelli Funds LLC boosted its position in Eastern by 0.4% during the 3rd quarter. Gabelli Funds LLC now owns 165,000 shares of the industrial products company’s stock valued at $3,871,000 after acquiring an additional 600 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Eastern by 3.5% in the 2nd quarter. First Trust Advisors LP now owns 18,455 shares of the industrial products company’s stock valued at $421,000 after acquiring an additional 617 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Eastern by 0.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 257,126 shares of the industrial products company’s stock valued at $6,032,000 after acquiring an additional 775 shares during the period. Finally, Barclays PLC raised its position in shares of Eastern by 10.9% in the 4th quarter. Barclays PLC now owns 9,002 shares of the industrial products company’s stock worth $177,000 after acquiring an additional 886 shares in the last quarter. Hedge funds and other institutional investors 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.