Michael Mardy Acquires 1,099 Shares of Eastern (NASDAQ:EML) Stock

Eastern Company (The) (NASDAQ:EML) Director Michael Mardy bought 1,099 shares of the business’s stock in a transaction on Monday, March 16th. The stock was bought at an average price of $20.93 per share, for a total transaction of $23,002.07. Following the purchase, the director directly owned 18,065 shares of the company’s stock, valued at $378,100.45. The trade was a 6.48% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Eastern Stock Down 0.4%

Shares of EML stock traded down $0.09 during mid-day trading on Tuesday, hitting $20.45. 7,465 shares of the stock traded hands, compared to its average volume of 16,116. Eastern Company has a 52-week low of $17.61 and a 52-week high of $26.82. The stock has a market cap of $123.53 million, a P/E ratio of 17.47 and a beta of 0.97. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.59 and a quick ratio of 1.55. The stock’s fifty day moving average is $18.64 and its two-hundred day moving average is $20.43.

Eastern (NASDAQ:EML) last issued 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). Eastern had a return on equity of 6.52% and a net margin of 2.90%.The firm had revenue of $248.78 billion during the quarter, compared to analysts’ expectations of $68.68 million.

Hedge Funds Weigh In On Eastern

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Teton Advisors LLC purchased a new stake in shares of Eastern during the 3rd quarter valued at approximately $3,293,000. Minerva Advisors LLC lifted its position in shares of 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 in the last quarter. GatePass Capital LLC boosted its position in Eastern by 87.8% in the 3rd quarter. GatePass Capital LLC now owns 33,800 shares of the industrial products company’s stock valued at $793,000 after buying an additional 15,800 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Eastern during the 2nd quarter worth about $326,000. Finally, Osaic Holdings Inc. raised its holdings in Eastern by 3,259.7% in the fourth quarter. Osaic Holdings Inc. now owns 13,674 shares of the industrial products company’s stock valued at $269,000 after acquiring an additional 13,267 shares in the last quarter. Institutional investors and hedge funds own 76.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Wall Street Zen raised 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 research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average 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.