Eastern Company (The) (NASDAQ:EML) Shares Will Pay Quarterly Dividend of $0.11

Eastern Company (The) (NASDAQ:EML) announced a quarterly dividend on Wednesday, November 4th. Investors of record on Monday, November 16th will be paid a dividend of $0.11 per share by the industrial products company on Tuesday, December 15th. This represents a $0.44 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Monday, November 16th.

Eastern has a dividend payout ratio of 17.2% indicating that its dividend is sufficiently covered by earnings.

Eastern Stock Performance

NASDAQ:EML opened at $28.81 on Thursday. The firm’s fifty day moving average price is $25.52 and its 200 day moving average price is $22.76. Eastern has a 1-year low of $17.61 and a 1-year high of $29.91. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.80 and a quick ratio of 1.32. The firm has a market cap of $173.44 million, a price-to-earnings ratio of 41.03 and a beta of 0.89.

Eastern (NASDAQ:EML) last announced its quarterly earnings data on Tuesday, August 11th. The industrial products company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.52). The firm had revenue of $61.82 million for the quarter, compared to analysts’ expectations of $73.69 million. Eastern had a return on equity of 3.38% and a net margin of 3.44%.

Institutional Trading of Eastern

Hedge funds have recently modified their holdings of the business. Empowered Funds LLC purchased a new stake in shares of Eastern in the second quarter valued at approximately $930,000. Ancora Advisors LLC acquired a new position in Eastern during the second quarter worth $1,938,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Eastern during the second quarter worth $549,000. De Lisle Partners LLP purchased a new position in Eastern in the second quarter worth $1,336,000. Finally, Tieton Capital Management LLC purchased a new position in Eastern in the second quarter worth $6,049,000. 76.99% of the stock is owned by institutional investors and hedge funds.

About Eastern

The Eastern Company (NASDAQ: EML) is a diversified manufacturer of engineered products serving industrial, security and transportation markets. The company develops and produces products used in commercial vehicles, industrial equipment, specialty vehicles and other applications where security, access control and engineered components are required.

Its product offerings include locks, latches, access hardware and other security-related components, as well as vehicle mirrors and related equipment.