James Mitarotonda Purchases 1,922 Shares of Eastern (NASDAQ:EML) Stock

Eastern Company (The) (NASDAQ:EML) Director James Mitarotonda purchased 1,922 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was purchased at an average price of $21.58 per share, with a total value of $41,476.76. Following the purchase, the director directly owned 646,264 shares of the company’s stock, valued at $13,946,377.12. The trade was a 0.30% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Eastern Stock Up 1.0%

Shares of Eastern stock opened at $22.11 on Wednesday. Eastern Company has a 52-week low of $17.61 and a 52-week high of $26.77. The company has a 50 day moving average of $21.48 and a 200 day moving average of $19.96. The company has a quick ratio of 1.64, a current ratio of 3.52 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $133.32 million, a P/E ratio of 23.03 and a beta of 0.87.

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

Eastern Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be paid a $0.11 dividend. The ex-dividend date is Friday, May 15th. This represents a $0.44 dividend on an annualized basis and a yield of 2.0%. Eastern’s payout ratio is currently 45.83%.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada downgraded shares of Eastern from a “moderate buy” rating to a “hold” rating in a research report on Monday, April 13th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold”.

Institutional Trading of Eastern

Several institutional investors have recently modified their holdings of the stock. Barington Companies Management LLC lifted its position in shares of Eastern by 0.8% during the 4th quarter. Barington Companies Management LLC now owns 634,933 shares of the industrial products company’s stock worth $12,502,000 after buying an additional 4,833 shares during the last quarter. Minerva Advisors LLC increased its holdings in shares of Eastern by 1.0% in the 3rd quarter. Minerva Advisors LLC now owns 530,053 shares of the industrial products company’s stock valued at $12,435,000 after acquiring an additional 5,000 shares during the period. Gamco Investors INC. ET AL increased its holdings in shares of Eastern by 0.7% in the 4th quarter. Gamco Investors INC. ET AL now owns 515,545 shares of the industrial products company’s stock valued at $10,151,000 after acquiring an additional 3,827 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Eastern by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 388,292 shares of the industrial products company’s stock valued at $7,645,000 after acquiring an additional 1,571 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in shares of Eastern by 0.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 257,126 shares of the industrial products company’s stock valued at $6,032,000 after acquiring an additional 775 shares during the period. Hedge funds and other institutional investors own 76.99% of the company’s stock.

Eastern News Summary

Here are the key news stories impacting Eastern this week:

• Positive Sentiment: Director James A. Mitarotonda bought 1,922 shares of Eastern Company stock, and earlier bought 3,736 shares as well, signaling insider confidence in the business. James Mitarotonda Buys 1,922 Shares of Eastern (NASDAQ:EML) Stock
• Positive Sentiment: Director Frederick D. Disanto also purchased 288 shares, adding to the bullish insider-buying trend at Eastern. Frederick D. Disanto stock activity
• Neutral Sentiment: Short interest was reported at 0 shares, so the latest update does not indicate a meaningful bearish short-position buildup in Eastern.
• Neutral Sentiment: Recent coverage included valuation and company-comparison articles, but these appear informational and are unlikely to be major stock drivers on their own. Allegion (NYSE:ALLE) vs. Eastern (NASDAQ:EML) Financial Contrast
• Negative Sentiment: The most recent earnings report was weak, with Eastern missing consensus on both EPS and revenue, which continues to hang over sentiment.

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.