Posted by admin on May 19th, 2022
The Eastern Company (NASDAQ:EML – Get Rating) Director Frederick D. Disanto acquired 1,002 shares of the company’s stock in a transaction dated Tuesday, May 17th. The shares were bought at an average price of $20.24 per share, for a total transaction of $20,280.48. Following the acquisition, the director now owns 20,755 shares in the company, valued at approximately $420,081.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Shares of NASDAQ EML opened at $20.21 on Thursday. The firm has a market capitalization of $126.11 million, a price-to-earnings ratio of 15.08 and a beta of 0.93. The Eastern Company has a one year low of $19.90 and a one year high of $33.96. The business has a fifty day simple moving average of $22.94 and a 200 day simple moving average of $24.30. The company has a current ratio of 2.66, a quick ratio of 1.31 and a debt-to-equity ratio of 0.57.
Eastern (NASDAQ:EML – Get Rating) last announced its quarterly earnings results on Thursday, March 17th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter. The firm had revenue of $59.60 million for the quarter. Eastern had a net margin of 3.32% and a return on equity of 12.16%.
The firm 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 $0.11 dividend. The ex-dividend date is Thursday, May 12th. This represents a $0.44 dividend on an annualized basis and a yield of 2.18%. Eastern’s payout ratio is currently 32.84%.
Separately, StockNews.com assumed coverage on Eastern in a research report on Friday, May 13th. They set a “buy” rating on the stock.
A number of large investors have recently bought and sold shares of EML. Cove Street Capital LLC acquired a new position in Eastern during the third quarter worth $65,000. UBS Group AG increased its position in shares of Eastern by 21.2% during the 1st quarter. UBS Group AG now owns 4,702 shares of the industrial products company’s stock worth $109,000 after purchasing an additional 822 shares in the last quarter. Morgan Stanley increased its position in shares of Eastern by 50.7% during the 2nd quarter. Morgan Stanley now owns 5,884 shares of the industrial products company’s stock worth $178,000 after purchasing an additional 1,980 shares in the last quarter. Northern Trust Corp lifted its holdings in Eastern by 2.8% during the 4th quarter. Northern Trust Corp now owns 15,603 shares of the industrial products company’s stock valued at $391,000 after purchasing an additional 429 shares during the last quarter. Finally, State Street Corp boosted its position in Eastern by 3.9% in the first quarter. State Street Corp now owns 17,120 shares of the industrial products company’s stock valued at $399,000 after buying an additional 640 shares in the last quarter. 61.80% of the stock is 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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