Eastern (NASDAQ:EML) Director Frederick Disanto Purchases 1,000 Shares of Stock

Eastern Company (The) (NASDAQ:EML) Director Frederick Disanto acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The shares were bought at an average cost of $18.39 per share, for a total transaction of $18,390.00. Following the acquisition, the director directly owned 99,689 shares in the company, valued at $1,833,280.71. This represents a 1.01% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Eastern Stock Up 2.8%

Shares of NASDAQ EML opened at $19.05 on Tuesday. The company has a quick ratio of 1.55, a current ratio of 3.59 and a debt-to-equity ratio of 0.30. The company has a market cap of $115.06 million, a P/E ratio of 16.28 and a beta of 0.97. Eastern Company has a 52 week low of $17.61 and a 52 week high of $28.15. The business has a 50-day simple moving average of $18.56 and a two-hundred day simple moving average of $20.55.

Eastern (NASDAQ:EML) last announced its quarterly earnings results on Tuesday, March 3rd. The industrial products company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.05). Eastern had a net margin of 2.90% and a return on equity of 6.52%. The company had revenue of $248.78 billion for the quarter, compared to the consensus estimate of $68.68 million.

Eastern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 13th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Friday, February 13th. Eastern’s dividend payout ratio is 37.61%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wall Street Zen raised shares of Eastern to a “hold” rating in a report on Saturday, January 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Eastern in a report on Monday, December 29th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets increased its position in shares of 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 purchasing an additional 577 shares during the last quarter. Tower Research Capital LLC TRC lifted 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 purchasing an additional 1,299 shares during the last quarter. Focus Partners Wealth purchased a new position in Eastern in the 3rd quarter worth approximately $40,000. Raymond James Financial Inc. purchased a new position in Eastern in the 2nd quarter worth approximately $70,000. Finally, Deutsche Bank AG bought a new position in shares of Eastern in the 4th quarter worth $98,000. 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.