Eastern (NASDAQ:EML) Director Frederick Disanto Buys 1,000 Shares

Eastern Company (The) (NASDAQ:EML) Director Frederick Disanto purchased 1,000 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was purchased at an average price of $21.25 per share, for a total transaction of $21,250.00. Following the transaction, the director directly owned 102,356 shares in the company, valued at approximately $2,175,065. This trade represents a 0.99% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Eastern Trading Up 3.6%

Shares of NASDAQ EML traded up $0.76 during midday trading on Friday, reaching $21.75. The stock had a trading volume of 29,380 shares, compared to its average volume of 16,507. The firm has a market cap of $131.17 million, a price-to-earnings ratio of 22.66 and a beta of 0.87. Eastern Company has a twelve month low of $17.61 and a twelve month high of $26.77. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.64 and a current ratio of 3.52. The company’s 50 day moving average price is $21.52 and its 200 day moving average price is $19.98.

Eastern (NASDAQ:EML) last released its earnings results on Tuesday, May 12th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.39). Eastern had a net margin of 2.41% and a return on equity of 5.46%. 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 announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 15th will be paid a $0.11 dividend. The ex-dividend date is Friday, May 15th. This represents a $0.44 annualized dividend and a dividend yield of 2.0%. Eastern’s dividend payout ratio is presently 45.83%.

Institutional Investors Weigh In On Eastern

A number of institutional investors and hedge funds have recently bought and sold shares of EML. BNP Paribas Financial Markets grew its position in Eastern by 82.9% during the third quarter. BNP Paribas Financial Markets now owns 1,273 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 577 shares during the last quarter. Tower Research Capital LLC TRC grew its position in 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 valued at $40,000 after acquiring an additional 1,299 shares during the last quarter. Focus Partners Wealth bought a new position in Eastern during the third quarter valued at approximately $40,000. Raymond James Financial Inc. bought a new position in Eastern during the second quarter valued at approximately $70,000. Finally, Fifth Third Bancorp bought a new position in Eastern during the first quarter valued at approximately $73,000. 76.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.