Frederick Disanto Buys 1,000 Shares of Eastern (NASDAQ:EML) Stock

Eastern Company (The) (NASDAQ:EML) Director Frederick Disanto purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were purchased at an average cost of $21.25 per share, with a total value of $21,250.00. Following the completion of the acquisition, the director owned 105,424 shares in the company, valued at $2,240,260. The trade was a 0.96% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Eastern Stock Performance

NASDAQ:EML traded up $0.04 during mid-day trading on Wednesday, hitting $21.92. 23,365 shares of the stock were exchanged, compared to its average volume of 17,051. The stock has a market capitalization of $132.18 million, a price-to-earnings ratio of 22.83 and a beta of 0.87. The firm’s 50-day simple moving average is $21.59 and its 200 day simple moving average is $20.03. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.64 and a current ratio of 3.52. Eastern Company has a fifty-two week low of $17.61 and a fifty-two week high of $26.77.

Eastern (NASDAQ:EML) last released its quarterly earnings results on Tuesday, May 12th. The industrial products company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.39). The firm had revenue of $59.68 million for the quarter, compared to analyst estimates of $67.74 million. Eastern had a return on equity of 5.46% and a net margin of 2.41%.

Eastern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 15th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Friday, May 15th. Eastern’s dividend payout ratio (DPR) is 45.83%.

Analyst Ratings Changes

Separately, Royal Bank Of Canada lowered Eastern from a “moderate buy” rating to a “hold” rating in a research note on Monday, April 13th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold”.

Hedge Funds Weigh In On Eastern

Several hedge funds and other institutional investors have recently modified their holdings of EML. Goldman Sachs Group Inc. increased its stake in shares of Eastern by 43.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 20,533 shares of the industrial products company’s stock valued at $520,000 after purchasing an additional 6,219 shares during the last quarter. Empowered Funds LLC grew its position in Eastern by 7.1% during the 1st quarter. Empowered Funds LLC now owns 31,855 shares of the industrial products company’s stock worth $807,000 after acquiring an additional 2,100 shares during the last quarter. Strs Ohio bought a new stake in Eastern during the 1st quarter worth $127,000. Geode Capital Management LLC grew its position in Eastern by 6.3% during the 2nd quarter. Geode Capital Management LLC now owns 138,918 shares of the industrial products company’s stock worth $3,171,000 after acquiring an additional 8,205 shares during the last quarter. Finally, First Trust Advisors LP grew its position in Eastern by 3.5% during the 2nd quarter. First Trust Advisors LP now owns 18,455 shares of the industrial products company’s stock worth $421,000 after acquiring an additional 617 shares during the last quarter. 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.