John Everets Acquires 1,310 Shares of Eastern (NASDAQ:EML) Stock

Eastern Company (The) (NASDAQ:EML) Director John Everets purchased 1,310 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was acquired at an average cost of $21.40 per share, for a total transaction of $28,034.00. Following the purchase, the director owned 142,504 shares in the company, valued at approximately $3,049,585.60. The trade was a 0.93% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

Eastern Stock Performance

NASDAQ EML opened at $23.68 on Friday. The stock has a fifty day simple moving average of $21.67 and a 200-day simple moving average of $20.07. The company has a current ratio of 3.52, a quick ratio of 1.64 and a debt-to-equity ratio of 0.29. The stock has a market cap of $142.79 million, a PE ratio of 24.67 and a beta of 0.87. Eastern Company has a twelve month low of $17.61 and a twelve month high of $26.77.

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

Eastern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 15th were given a dividend of $0.11 per share. The ex-dividend date was Friday, May 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.9%. Eastern’s dividend payout ratio (DPR) is currently 45.83%.

Institutional Investors Weigh In On Eastern

Institutional investors have recently modified their holdings of the company. Teton Advisors LLC purchased a new stake in Eastern during the third quarter worth about $3,293,000. Minerva Advisors LLC boosted its stake in shares of Eastern by 1.0% in the third quarter. Minerva Advisors LLC now owns 530,053 shares of the industrial products company’s stock valued at $12,435,000 after purchasing an additional 5,000 shares during the period. LSV Asset Management boosted its stake in shares of Eastern by 71.5% in the third quarter. LSV Asset Management now owns 23,403 shares of the industrial products company’s stock valued at $549,000 after purchasing an additional 9,753 shares during the period. Sei Investments Co. acquired a new position in shares of Eastern in the first quarter valued at approximately $940,000. Finally, Fifth Third Bancorp acquired a new position in shares of Eastern in the first quarter valued at approximately $73,000. 76.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.