Insider Buying: Eastern (NASDAQ:EML) Director Purchases $22,269.52 in Stock

Eastern Company (The) (NASDAQ:EML) Director Peggy Scott purchased 1,064 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was bought at an average cost of $20.93 per share, with a total value of $22,269.52. Following the acquisition, the director owned 25,086 shares in the company, valued at $525,049.98. This represents a 4.43% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Eastern Stock Performance

EML opened at $20.35 on Friday. The firm’s fifty day simple moving average is $18.75 and its two-hundred day simple moving average is $20.40. Eastern Company has a 52-week low of $17.61 and a 52-week high of $26.77. The company has a market cap of $122.95 million, a price-to-earnings ratio of 17.39 and a beta of 0.97. The company has a quick ratio of 1.55, a current ratio of 3.59 and a debt-to-equity ratio of 0.30.

Eastern (NASDAQ:EML) last released 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 return on equity of 6.52% and a net margin of 2.90%.

Analysts Set New Price Targets

Several research firms have recently weighed in on EML. Wall Street Zen upgraded Eastern to a “hold” rating in a research report on Saturday, January 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Eastern in a research note on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Eastern presently has a consensus rating of “Hold”.

Institutional Investors Weigh In On Eastern

A number of large investors have recently made changes to their positions in the stock. Osaic Holdings Inc. increased its holdings in shares of 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 purchasing an additional 13,267 shares during the last quarter. Barclays PLC boosted its holdings in Eastern by 10.9% in the 4th quarter. Barclays PLC now owns 9,002 shares of the industrial products company’s stock valued at $177,000 after purchasing an additional 886 shares during the last quarter. State Street Corp increased its holdings in shares of Eastern by 3.6% during the 4th quarter. State Street Corp now owns 74,569 shares of the industrial products company’s stock worth $1,468,000 after buying an additional 2,575 shares during the last quarter. Wells Fargo & Company MN grew its position in Eastern by 6.2% in the fourth quarter. Wells Fargo & Company MN now owns 133,039 shares of the industrial products company’s stock worth $2,620,000 after acquiring an additional 7,779 shares during the period. Finally, Barington Companies Management LLC lifted its stake in shares of Eastern by 0.8% in 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 purchasing an additional 4,833 shares during the last quarter. 76.99% of the stock is currently owned by hedge funds and other institutional investors.

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.