Eastern Company (The) (EML) To Go Ex-Dividend on February 13th

Eastern Company (The) (NASDAQ:EML) announced a quarterly dividend on Tuesday, December 16th. Stockholders of record on Friday, February 13th will be given a dividend of 0.11 per share by the industrial products company on Friday, March 13th. This represents a c) annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, February 13th.

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

Eastern Price Performance

EML opened at $19.15 on Wednesday. The firm has a market cap of $116.22 million, a price-to-earnings ratio of 15.44 and a beta of 0.98. The company has a current ratio of 2.99, a quick ratio of 1.30 and a debt-to-equity ratio of 0.27. Eastern has a twelve month low of $17.61 and a twelve month high of $29.55. The company has a fifty day simple moving average of $18.99 and a 200 day simple moving average of $21.12.

Insider Activity

In other Eastern news, Director Frederick D. Disanto purchased 2,925 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The shares were purchased at an average cost of $18.82 per share, with a total value of $55,048.50. Following the completion of the transaction, the director owned 96,851 shares of the company’s stock, valued at approximately $1,822,735.82. This represents a 3.11% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James A. Mitarotonda acquired 2,433 shares of the firm’s stock in a transaction on Friday, December 12th. The shares were acquired at an average price of $20.14 per share, with a total value of $49,000.62. Following the completion of the transaction, the director directly owned 634,933 shares in the company, valued at approximately $12,787,550.62. This trade represents a 0.38% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have acquired 14,343 shares of company stock worth $279,301. 17.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of EML. BNP Paribas Financial Markets boosted its holdings 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 period. Tower Research Capital LLC TRC lifted its position in shares of Eastern by 295.9% during the 2nd 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 during the last quarter. Focus Partners Wealth bought a new stake in Eastern during the 3rd quarter valued at approximately $40,000. Raymond James Financial Inc. acquired a new stake in Eastern in the 2nd quarter valued at approximately $70,000. Finally, Strs Ohio acquired a new stake in Eastern in the 1st quarter valued at approximately $127,000. 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.