Posted by admin on May 26th, 2022

The Eastern Company (NASDAQ:EML – Get Rating) Director Frederick D. Disanto purchased 1,800 shares of the stock in a transaction that occurred on Tuesday, May 24th. The stock was bought at an average cost of $21.05 per share, for a total transaction of $37,890.00. Following the acquisition, the director now directly owns 25,524 shares in the company, valued at approximately $537,280.20. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Shares of EML stock traded down $0.48 during trading hours on Thursday, reaching $20.52. 2,984 shares of the stock were exchanged, compared to its average volume of 8,848. The firm has a market capitalization of $128.04 million, a price-to-earnings ratio of 15.31 and a beta of 0.93. The company has a current ratio of 2.66, a quick ratio of 1.31 and a debt-to-equity ratio of 0.57. The Eastern Company has a 12-month low of $19.90 and a 12-month high of $33.96. The company’s 50-day moving average price is $22.65 and its 200-day moving average price is $24.19.

Eastern (NASDAQ:EML – Get Rating) last released its quarterly earnings results on Thursday, March 17th. The industrial products company reported $0.65 EPS for the quarter. Eastern had a net margin of 3.32% and a return on equity of 12.16%. The company had revenue of $59.60 million for the quarter.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Friday, May 13th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, May 12th. This represents a $0.44 dividend on an annualized basis and a yield of 2.14%. Eastern’s payout ratio is currently 32.84%.

Separately, StockNews.com assumed coverage on shares of Eastern in a report on Saturday, May 21st. They set a “buy” rating for the company.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cove Street Capital LLC purchased a new stake in shares of Eastern during the third quarter valued at approximately $65,000. UBS Group AG raised its stake in shares of Eastern by 21.2% during the first quarter. UBS Group AG now owns 4,702 shares of the industrial products company’s stock valued at $109,000 after purchasing an additional 822 shares in the last quarter. Morgan Stanley raised its position in Eastern by 50.7% in the second quarter. Morgan Stanley now owns 5,884 shares of the industrial products company’s stock worth $178,000 after acquiring an additional 1,980 shares in the last quarter. Northern Trust Corp increased its stake in Eastern by 2.8% in the 4th quarter. Northern Trust Corp now owns 15,603 shares of the industrial products company’s stock worth $391,000 after purchasing an additional 429 shares in the last quarter. Finally, State Street Corp grew its stake in Eastern by 3.9% during the 1st quarter. State Street Corp now owns 17,120 shares of the industrial products company’s stock valued at $399,000 after acquiring an additional 640 shares in the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Eastern Company Profile (Get Rating)

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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