James Mitarotonda Purchases 2,000 Shares of Eastern (NASDAQ:EML) Stock

Eastern Company (The) (NASDAQ:EML) Director James Mitarotonda bought 2,000 shares of Eastern stock in a transaction that occurred on Wednesday, March 18th. The stock was purchased at an average price of $20.11 per share, with a total value of $40,220.00. Following the purchase, the director directly owned 644,342 shares in the company, valued at $12,957,717.62. The trade was a 0.31% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Eastern Stock Down 0.1%

Eastern stock opened at $20.33 on Friday. The business’s 50-day simple moving average is $18.79 and its two-hundred day simple moving average is $20.35. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.55 and a current ratio of 3.59. The company has a market cap of $122.79 million, a PE ratio of 17.38 and a beta of 0.97. Eastern Company has a fifty-two week low of $17.61 and a fifty-two week high of $26.77.

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). Eastern had a return on equity of 6.52% and a net margin of 2.90%.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Teton Advisors LLC purchased a new position in shares of Eastern in the 3rd quarter valued at about $3,293,000. Minerva Advisors LLC raised its holdings in Eastern by 3.8% in the 2nd quarter. Minerva Advisors LLC now owns 525,053 shares of the industrial products company’s stock worth $11,982,000 after purchasing an additional 19,066 shares during the period. De Lisle Partners LLP boosted its position in Eastern by 14.7% during the second quarter. De Lisle Partners LLP now owns 46,922 shares of the industrial products company’s stock worth $1,072,000 after purchasing an additional 6,000 shares in the last quarter. Barclays PLC boosted its position in Eastern by 10.9% during the fourth quarter. Barclays PLC now owns 9,002 shares of the industrial products company’s stock worth $177,000 after purchasing an additional 886 shares in the last quarter. Finally, Deutsche Bank AG acquired a new stake in Eastern in the fourth quarter valued at approximately $98,000. Institutional investors and hedge funds own 76.99% of the company’s stock.

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.