Teton Advisors LLC Acquires Shares of 140,365 Eastern Company (The) $EML

Teton Advisors LLC bought a new position in Eastern Company (The) (NASDAQ:EML) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 140,365 shares of the industrial products company’s stock, valued at approximately $3,293,000. Eastern makes up about 2.0% of Teton Advisors LLC’s portfolio, making the stock its 9th biggest position.

Other institutional investors have also made changes to their positions in the company. Los Angeles Capital Management LLC acquired a new stake in shares of Eastern during the 2nd quarter valued at approximately $326,000. Minerva Advisors LLC lifted its stake in Eastern by 3.8% during the second quarter. Minerva Advisors LLC now owns 525,053 shares of the industrial products company’s stock worth $11,982,000 after purchasing an additional 19,066 shares during the last quarter. De Lisle Partners LLP lifted its stake in Eastern by 14.7% during the second quarter. De Lisle Partners LLP now owns 46,922 shares of the industrial products company’s stock worth $1,072,000 after purchasing an additional 6,000 shares during the last quarter. Strs Ohio acquired a new position in Eastern in the first quarter worth $127,000. Finally, JPMorgan Chase & Co. increased its stake in Eastern by 35.4% during the third quarter. JPMorgan Chase & Co. now owns 8,950 shares of the industrial products company’s stock valued at $210,000 after purchasing an additional 2,338 shares during the last quarter. 76.99% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director James A. Mitarotonda acquired 2,433 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The shares were purchased at an average cost of $20.14 per share, for a total transaction of $49,000.62. Following the transaction, the director directly owned 634,933 shares in the company, valued at $12,787,550.62. This trade represents a 0.38% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Everets bought 1,435 shares of Eastern stock in a transaction on Tuesday, December 16th. The shares were purchased at an average cost of $19.55 per share, with a total value of $28,054.25. Following the completion of the purchase, the director directly owned 139,855 shares in the company, valued at $2,734,165.25. This trade represents a 1.04% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought 8,135 shares of company stock valued at $160,414 in the last 90 days. Insiders own 17.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Wall Street Zen raised shares of Eastern to a “hold” rating in a report on Saturday, January 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Eastern in a report on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to MarketBeat, Eastern presently has a consensus rating of “Hold”.

Eastern Stock Up 3.3%

Shares of Eastern stock opened at $18.54 on Friday. The stock has a market capitalization of $111.98 million, a price-to-earnings ratio of 15.85 and a beta of 0.97. Eastern Company has a twelve month low of $17.61 and a twelve month high of $28.15. The company has a current ratio of 3.59, a quick ratio of 1.30 and a debt-to-equity ratio of 0.30. The business’s 50 day simple moving average is $18.58 and its 200-day simple moving average is $20.61.

Eastern (NASDAQ:EML) last released its quarterly earnings data on Tuesday, March 3rd. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). The company had revenue of $248.78 billion for the quarter, compared to analyst estimates of $68.68 million. Eastern had a net margin of 2.90% and a return on equity of 6.52%.

Eastern Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 13th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $0.44 annualized dividend and a dividend yield of 2.4%. Eastern’s payout ratio is 37.61%.

Eastern Company Profile

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.