Posted by admin on Jun 2nd, 2022

The Eastern Company (NASDAQ:EML – Get Rating) Director Frederick D. Disanto bought 1,619 shares of the firm’s stock in a transaction on Wednesday, June 1st. The stock was bought at an average cost of $21.00 per share, for a total transaction of $33,999.00. Following the transaction, the director now directly owns 27,144 shares of the company’s stock, valued at $570,024. The purchase was disclosed in a filing with the SEC, which is available through this link.

Shares of EML traded up $0.05 during mid-day trading on Thursday, hitting $21.00. 5,902 shares of the company’s stock were exchanged, compared to its average volume of 8,763. The company has a market cap of $131.04 million, a price-to-earnings ratio of 15.67 and a beta of 0.94. The Eastern Company has a fifty-two week low of $19.90 and a fifty-two week high of $33.96. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.31 and a current ratio of 2.66. The stock’s 50-day moving average is $22.40 and its 200-day moving average is $24.06.

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

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Friday, May 13th will be paid a dividend of $0.11 per share. The ex-dividend date is Thursday, May 12th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.10%. Eastern’s payout ratio is 32.84%.

Separately, StockNews.com started coverage on shares of Eastern in a research report on Sunday. They set a “buy” rating on the stock.

Hedge funds have recently added to or reduced their stakes in the stock. Forager Capital Management LLC purchased a new stake in shares of Eastern during the fourth quarter worth approximately $8,114,000. Gamco Investors INC. ET AL increased its stake in shares of Eastern by 3.4% during the fourth quarter. Gamco Investors INC. ET AL now owns 554,743 shares of the industrial products company’s stock worth $13,907,000 after buying an additional 18,298 shares during the period. Ancora Advisors LLC increased its stake in shares of Eastern by 5.8% during the first quarter. Ancora Advisors LLC now owns 63,797 shares of the industrial products company’s stock worth $1,710,000 after buying an additional 3,500 shares during the period. BlackRock Inc. increased its stake in shares of Eastern by 2.5% during the fourth quarter. BlackRock Inc. now owns 35,523 shares of the industrial products company’s stock worth $890,000 after buying an additional 874 shares during the period. Finally, Susquehanna International Group LLP increased its stake in shares of Eastern by 140.8% during the fourth quarter. Susquehanna International Group LLP now owns 23,237 shares of the industrial products company’s stock worth $585,000 after buying an additional 13,587 shares during the period. Hedge funds and other institutional investors own 61.80% of the company’s stock.

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.

Receive News & Ratings for Eastern Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eastern and related companies with MarketBeat.com's FREE daily email newsletter.

Basilea Pharmaceutica (OTCMKTS:BPMUF) Upgraded at Zacks Investment Research

Ocwen Financial Co. (NYSE:OCN) Director Jacques J. Busquet Acquires 1,000 Shares