Eastern (NASDAQ:EML) Director Chan Galbato Acquires 940 Shares

Eastern Company (The) (NASDAQ:EML) Director Chan Galbato purchased 940 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was purchased at an average price of $21.40 per share, for a total transaction of $20,116.00. Following the transaction, the director directly owned 4,167 shares in the company, valued at approximately $89,173.80. This trade represents a 29.13% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Eastern Trading Up 0.1%

Shares of NASDAQ:EML traded up $0.03 during mid-day trading on Wednesday, hitting $21.91. The company had a trading volume of 7,983 shares, compared to its average volume of 16,906. The firm has a fifty day moving average price of $21.59 and a 200 day moving average price of $20.03. The company has a market capitalization of $132.12 million, a PE ratio of 22.82 and a beta of 0.87. 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 Company has a one year low of $17.61 and a one year high of $26.77.

Eastern (NASDAQ:EML) last released its quarterly earnings data 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). The company had revenue of $59.68 million during the quarter, compared to the consensus estimate of $67.74 million. Eastern had a net margin of 2.41% and a return on equity of 5.46%.

Eastern Announces Dividend

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

Institutional Trading of Eastern

A number of hedge funds and other institutional investors have recently bought and sold shares of EML. Teton Advisors LLC bought a new stake in Eastern during the 3rd quarter valued at $3,293,000. Sei Investments Co. bought a new stake in shares of Eastern in the 1st quarter worth $940,000. Renaissance Technologies LLC grew its stake in shares of Eastern by 15.6% in the 1st quarter. Renaissance Technologies LLC now owns 133,237 shares of the industrial products company’s stock worth $2,697,000 after acquiring an additional 18,000 shares in the last quarter. Osaic Holdings Inc. grew its stake in shares of Eastern by 3,259.7% in the 4th quarter. Osaic Holdings Inc. now owns 13,674 shares of the industrial products company’s stock worth $269,000 after acquiring an additional 13,267 shares in the last quarter. Finally, LSV Asset Management grew its stake in shares of Eastern by 71.5% in the 3rd quarter. LSV Asset Management now owns 23,403 shares of the industrial products company’s stock worth $549,000 after acquiring an additional 9,753 shares in the last quarter. Institutional investors own 76.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada lowered shares of Eastern from a “moderate buy” rating to a “hold” rating in a research note on Monday, April 13th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Eastern 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.