Eastern (NASDAQ:EML) Director Acquires $20,134.66 in Stock

Eastern Company (The) (NASDAQ:EML) Director Chan Galbato acquired 962 shares of Eastern stock in a transaction that occurred on Monday, March 16th. The stock was bought at an average price of $20.93 per share, for a total transaction of $20,134.66. Following the completion of the acquisition, the director owned 3,227 shares in the company, valued at $67,541.11. This trade represents a 42.47% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Eastern Price Performance

Shares of EML opened at $20.35 on Friday. The firm has a 50-day simple moving average of $18.75 and a two-hundred day simple moving average of $20.40. The stock has a market cap of $122.95 million, a PE ratio of 17.39 and a beta of 0.97. Eastern Company has a 1-year low of $17.61 and a 1-year high of $26.77. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.59 and a quick ratio of 1.55.

Eastern (NASDAQ:EML) last posted its quarterly earnings data on Tuesday, March 3rd. The industrial products company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates 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 topic of several research reports. Wall Street Zen raised Eastern to a “hold” rating in a research note on Saturday, January 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Eastern in a research note on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Institutional Investors Weigh In On Eastern

Large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets raised its position in Eastern by 82.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,273 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 577 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of 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 worth $40,000 after buying an additional 1,299 shares in the last quarter. Focus Partners Wealth acquired a new position in shares of Eastern during the third quarter worth about $40,000. Raymond James Financial Inc. purchased a new stake in shares of Eastern during the second quarter worth approximately $70,000. Finally, Deutsche Bank AG acquired a new stake in Eastern in the fourth quarter valued at approximately $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.