Posted by admin on Jun 30th, 2022

The Eastern Company (NASDAQ:EML – Get Rating)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $23.38 and traded as low as $19.75. Eastern shares last traded at $19.75, with a volume of 235 shares traded.

Separately, StockNews.com began coverage on shares of Eastern in a research note on Thursday. They set a “buy” rating on the stock.

The company has a debt-to-equity ratio of 0.57, a current ratio of 2.66 and a quick ratio of 1.31. The company has a market capitalization of $123.24 million, a PE ratio of 14.74 and a beta of 0.94. The stock’s 50 day simple moving average is $21.17 and its 200-day simple moving average is $23.38.

Eastern (NASDAQ:EML – Get Rating) last released its earnings results on Monday, May 9th. The industrial products company reported $0.46 earnings per share for the quarter. Eastern had a net margin of 3.32% and a return on equity of 12.16%. The firm had revenue of $69.02 million for the quarter.

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Friday, May 13th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, May 12th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.23%. Eastern’s payout ratio is 32.84%.

In other news, Director Frederick D. Disanto acquired 2,000 shares of the firm’s stock in a transaction dated Friday, May 20th. The stock was acquired at an average cost of $20.92 per share, with a total value of $41,840.00. Following the completion of the acquisition, the director now owns 23,725 shares of the company’s stock, valued at $496,327. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frederick D. Disanto acquired 1,619 shares of the firm’s stock in a transaction dated Wednesday, June 1st. The stock was purchased at an average cost of $21.00 per share, with a total value of $33,999.00. Following the completion of the acquisition, the director now directly owns 27,144 shares of the company’s stock, valued at approximately $570,024. The disclosure for this purchase can be found here. Insiders have purchased 6,421 shares of company stock worth $134,009 over the last 90 days. Insiders own 16.31% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Forager Capital Management LLC acquired a new stake in shares of Eastern in the 4th quarter valued at approximately $8,114,000. Gamco Investors INC. ET AL grew its stake in shares of Eastern by 3.4% during the 4th quarter. Gamco Investors INC. ET AL now owns 554,743 shares of the industrial products company’s stock worth $13,907,000 after purchasing an additional 18,298 shares during the period. Ancora Advisors LLC grew its stake in shares of Eastern by 5.8% during the 1st quarter. Ancora Advisors LLC now owns 63,797 shares of the industrial products company’s stock worth $1,710,000 after purchasing an additional 3,500 shares during the period. Geode Capital Management LLC grew its stake in shares of Eastern by 6.9% during the 3rd quarter. Geode Capital Management LLC now owns 51,216 shares of the industrial products company’s stock worth $1,288,000 after purchasing an additional 3,286 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Eastern by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 412,367 shares of the industrial products company’s stock worth $9,604,000 after purchasing an additional 3,207 shares during the period. Hedge funds and other institutional investors own 61.80% of the company’s stock.

The Eastern Company designs, manufactures, and sells engineered solutions to industrial markets in the United States and internationally. It offers turnkey returnable packaging solutions that are used in the assembly process of vehicles, aircraft, and durable goods, as well as in the production process of plastic packaging products, packaged consumer goods, and pharmaceuticals; designs and manufactures blow mold tools and injection blow mold tooling products, and 2-step stretch blow molds and related components; and supplies blow molds and change parts to the food, beverage, healthcare, and chemical industry.

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