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 company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were bought at an average price of $21.25 per share, for a total transaction of $21,250.00. Following the transaction, the director directly owned 105,424 shares in the company, valued at $2,240,260. This trade represents a 0.96% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Eastern Trading Up 8.0%

NASDAQ:EML opened at $23.68 on Friday. Eastern Company has a 12 month low of $17.61 and a 12 month high of $26.77. The company has a current ratio of 3.52, a quick ratio of 1.64 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $142.79 million, a price-to-earnings ratio of 24.67 and a beta of 0.87. The firm has a fifty day simple moving average of $21.67 and a two-hundred day simple moving average of $20.07.

Eastern (NASDAQ:EML) last released its quarterly earnings data on Tuesday, May 12th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.39). Eastern had a return on equity of 5.46% and a net margin of 2.41%.The company had revenue of $59.68 million for the quarter, compared to the consensus estimate of $67.74 million.

Eastern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 15th were issued a dividend of $0.11 per share. The ex-dividend date was Friday, May 15th. This represents a $0.44 annualized dividend and a dividend yield of 1.9%. Eastern’s payout ratio is currently 45.83%.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of EML. Teton Advisors LLC bought a new position in Eastern during the 3rd quarter valued at $3,293,000. Minerva Advisors LLC grew its stake in shares of Eastern by 1.0% in the 3rd quarter. Minerva Advisors LLC now owns 530,053 shares of the industrial products company’s stock worth $12,435,000 after acquiring an additional 5,000 shares in the last quarter. 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. Sei Investments Co. bought a new stake in shares of Eastern in the 1st quarter worth $940,000. Finally, Fifth Third Bancorp purchased a new stake in shares of Eastern in the first quarter valued at about $73,000. Institutional investors own 76.99% of the company’s stock.

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.