Eastern (NASDAQ:EML) Director James Mitarotonda Acquires 2,000 Shares

Eastern Company (The) (NASDAQ:EML) Director James Mitarotonda bought 2,000 shares of the stock in a transaction dated Wednesday, March 18th. The shares were acquired at an average price of $20.11 per share, for a total transaction of $40,220.00. Following the completion of the purchase, the director directly owned 644,342 shares in the company, valued at approximately $12,957,717.62. This trade represents a 0.31% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Eastern Price Performance

Shares of NASDAQ:EML opened at $20.33 on Friday. The company’s 50-day moving average is $18.79 and its 200 day moving average is $20.38. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.55 and a current ratio of 3.59. The company has a market capitalization of $122.79 million, a P/E ratio of 17.38 and a beta of 0.97. Eastern Company has a fifty-two week low of $17.61 and a fifty-two week high of $26.77.

Eastern (NASDAQ:EML) last posted its quarterly earnings results on Tuesday, March 3rd. The industrial products company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.05). Eastern had a net margin of 2.90% and a return on equity of 6.52%.

Analysts Set New Price Targets

EML has been the subject of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Eastern in a research note on Monday, December 29th. Wall Street Zen upgraded Eastern to a “hold” rating in a research note on Saturday, January 10th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold”.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets raised its holdings in Eastern by 82.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,273 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 577 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Eastern by 295.9% in the second quarter. Tower Research Capital LLC TRC now owns 1,738 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 1,299 shares in the last quarter. Focus Partners Wealth purchased a new position in shares of Eastern in the third quarter valued at $40,000. Raymond James Financial Inc. bought a new stake in shares of Eastern during the 2nd quarter valued at $70,000. Finally, Deutsche Bank AG purchased a new stake in Eastern during the 4th quarter worth about $98,000. 76.99% of the stock is owned by institutional investors.

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.