Frederick Disanto Buys 1,000 Shares of Eastern (NASDAQ:EML) Stock

Eastern Company (The) (NASDAQ:EML) Director Frederick Disanto bought 1,000 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was purchased at an average price of $21.25 per share, for a total transaction of $21,250.00. Following the acquisition, the director directly owned 102,356 shares of the company’s stock, valued at approximately $2,175,065. The trade was a 0.99% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Eastern Trading Up 3.6%

NASDAQ:EML traded up $0.76 during trading hours on Friday, hitting $21.75. The company had a trading volume of 29,380 shares, compared to its average volume of 16,507. The company has a market capitalization of $131.17 million, a PE ratio of 22.66 and a beta of 0.87. The stock has a 50-day moving average price of $21.52 and a 200 day moving average price of $19.98. Eastern Company has a 52 week low of $17.61 and a 52 week high of $26.77. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.52 and a quick ratio of 1.64.

Eastern (NASDAQ:EML) last released its quarterly earnings results on Tuesday, May 12th. The industrial products company reported $0.11 earnings per share 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 the consensus estimate of $67.74 million.

Eastern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 15th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, May 15th. Eastern’s payout ratio is currently 45.83%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Barington Companies Management LLC grew its stake in shares of Eastern by 0.8% during the 4th quarter. Barington Companies Management LLC now owns 634,933 shares of the industrial products company’s stock valued at $12,502,000 after acquiring an additional 4,833 shares during the period. Minerva Advisors LLC grew its stake in shares of Eastern by 1.0% during the 3rd quarter. Minerva Advisors LLC now owns 530,053 shares of the industrial products company’s stock valued at $12,435,000 after acquiring an additional 5,000 shares during the period. Gamco Investors INC. ET AL grew its stake in shares of Eastern by 0.7% during the 4th quarter. Gamco Investors INC. ET AL now owns 515,545 shares of the industrial products company’s stock valued at $10,151,000 after acquiring an additional 3,827 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Eastern by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 388,292 shares of the industrial products company’s stock valued at $7,645,000 after acquiring an additional 1,571 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in Eastern by 0.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 257,126 shares of the industrial products company’s stock worth $6,032,000 after purchasing an additional 775 shares during the period. 76.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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