Frederick Disanto Purchases 762 Shares of Eastern (NASDAQ:EML) Stock

Eastern Company (The) (NASDAQ:EML) Director Frederick Disanto purchased 762 shares of the business’s stock in a transaction on Friday, November 14th. The shares were acquired at an average price of $19.47 per share, with a total value of $14,836.14. Following the purchase, the director owned 91,926 shares of the company’s stock, valued at approximately $1,789,799.22. This trade represents a 0.84% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Eastern Price Performance

Eastern stock opened at $19.49 on Friday. The business has a 50 day simple moving average of $22.46 and a 200 day simple moving average of $22.89. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.67 and a quick ratio of 1.33. The company has a market capitalization of $118.28 million, a PE ratio of -14.77 and a beta of 0.98. Eastern Company has a one year low of $19.06 and a one year high of $31.67.

Eastern (NASDAQ:EML) last announced its quarterly earnings results on Tuesday, November 4th. The industrial products company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.64). The firm had revenue of $55.34 million for the quarter, compared to the consensus estimate of $73.41 million. Eastern had a negative net margin of 3.06% and a positive return on equity of 10.44%.

Eastern Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.44 dividend on an annualized basis and a yield of 2.3%. Eastern’s dividend payout ratio is currently 35.48%.

Institutional Investors Weigh In On Eastern

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted its holdings in Eastern by 82.9% during the third quarter. BNP Paribas Financial Markets now owns 1,273 shares of the industrial products company’s stock worth $30,000 after buying an additional 577 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Eastern by 295.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,738 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 1,299 shares during the period. Raymond James Financial Inc. acquired a new position in Eastern during the second quarter valued at approximately $70,000. Strs Ohio bought a new position in shares of Eastern during the first quarter worth $127,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Eastern by 35.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,950 shares of the industrial products company’s stock valued at $210,000 after buying an additional 2,338 shares during the period. Institutional investors own 76.99% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Eastern in a research note on Thursday. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Eastern Company Profile

The Eastern Company designs, manufactures, and sells engineered solutions to industrial markets in the United States and internationally. The company offers turnkey returnable packaging solutions, which are used in the assembly processes of vehicles, aircraft, and durable goods, as well as in production processes 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 for the stretch blow molding industry; and supplies blow molds and change parts to the food, beverage, healthcare, and chemical industries.