Posted by admin on May 24th, 2022

The Eastern Company (NASDAQ:EML – Get Rating) Director Frederick D. Disanto bought 2,000 shares of the business’s stock in a transaction on Friday, May 20th. The stock was bought at an average cost of $20.92 per share, for a total transaction of $41,840.00. Following the purchase, the director now directly owns 23,725 shares of the company’s stock, valued at approximately $496,327. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Shares of Eastern stock traded up $0.99 during trading hours on Tuesday, hitting $21.64. The company’s stock had a trading volume of 1,377 shares, compared to its average volume of 8,964. The Eastern Company has a 12 month low of $19.90 and a 12 month high of $33.96. The stock has a 50 day moving average of $22.78 and a 200 day moving average of $24.23. The company has a market capitalization of $135.03 million, a PE ratio of 16.15 and a beta of 0.93. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.66 and a quick ratio of 1.31.

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. Eastern had a return on equity of 12.16% and a net margin of 3.32%. The company had revenue of $59.60 million during the quarter.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Friday, May 13th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Thursday, May 12th. This represents a $0.44 annualized dividend and a dividend yield of 2.03%. Eastern’s dividend payout ratio (DPR) is currently 32.84%.

Separately, StockNews.com assumed coverage on Eastern in a research note on Saturday. They issued a “buy” rating on the stock.

Institutional investors have recently made changes to their positions in the business. Gamco Investors INC. ET AL increased its holdings in shares of Eastern by 3.4% in the fourth quarter. Gamco Investors INC. ET AL now owns 554,743 shares of the industrial products company’s stock worth $13,907,000 after acquiring an additional 18,298 shares in the last quarter. Cove Street Capital LLC bought a new position in shares of Eastern during the third quarter worth about $65,000. BlackRock Inc. grew its holdings in shares of Eastern by 2.5% during the fourth quarter. BlackRock Inc. now owns 35,523 shares of the industrial products company’s stock worth $890,000 after buying an additional 874 shares in the last quarter. Susquehanna International Group LLP grew its holdings in shares of Eastern by 140.8% during the fourth quarter. Susquehanna International Group LLP now owns 23,237 shares of the industrial products company’s stock worth $585,000 after buying an additional 13,587 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Eastern by 3.9% during the first quarter. State Street Corp now owns 17,120 shares of the industrial products company’s stock worth $399,000 after buying an additional 640 shares in the last quarter. Institutional investors own 61.80% of the company’s stock.

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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