Eastern Company (The) (EML) To Go Ex-Dividend on November 14th

Eastern Company (The) (NASDAQ:EML) declared a quarterly dividend on Thursday, October 30th. Shareholders of record on Friday, November 14th will be given a dividend of 0.11 per share by the industrial products company on Monday, December 15th. This represents a c) dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, November 14th.

Eastern has a dividend payout ratio of 17.2% indicating that its dividend is sufficiently covered by earnings.

Eastern Stock Down 3.0%

Shares of NASDAQ:EML opened at $19.07 on Wednesday. The firm has a market capitalization of $115.74 million, a PE ratio of -14.45 and a beta of 0.98. Eastern has a 1 year low of $19.06 and a 1 year high of $31.67. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.67 and a quick ratio of 1.33. The firm’s 50-day moving average is $22.71 and its two-hundred day moving average is $22.91.

Eastern (NASDAQ:EML) last announced its quarterly earnings data on Tuesday, November 4th. The industrial products company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.64). The business had revenue of $55.34 million during the quarter, compared to analyst estimates of $73.41 million. Eastern had a negative net margin of 3.06% and a positive return on equity of 10.44%.

Insider Transactions at Eastern

In other news, Director Frederick D. Disanto purchased 3,000 shares of the business’s stock in a transaction on Monday, August 18th. The shares were bought at an average price of $22.58 per share, with a total value of $67,740.00. Following the completion of the transaction, the director directly owned 86,449 shares in the company, valued at approximately $1,952,018.42. This represents a 3.60% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders purchased 6,014 shares of company stock worth $136,884. Company insiders own 17.00% of the company’s stock.

Hedge Funds Weigh In On Eastern

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its holdings 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 during the period. Raymond James Financial Inc. acquired a new position in Eastern during the second quarter worth $70,000. Strs Ohio purchased a new stake in shares of Eastern during the 1st quarter worth $127,000. JPMorgan Chase & Co. lifted its stake in shares of Eastern by 35.4% in the third quarter. JPMorgan Chase & Co. now owns 8,950 shares of the industrial products company’s stock valued at $210,000 after purchasing an additional 2,338 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in Eastern in the second quarter valued at about $326,000. Hedge funds and other institutional investors own 76.99% of the company’s stock.

Eastern Company Profile

The Eastern Company designs, manufactures, and sells engineered solutions to industrial markets in the United States and internationally. The company offers turnkey returnable packaging solutions, which are used in the assembly processes of vehicles, aircraft, and durable goods, as well as in production processes of plastic packaging products, packaged consumer goods, and pharmaceuticals; designs and manufactures blow mold tools and injection blow mold tooling products, and 2-step stretch blow molds and related components for the stretch blow molding industry; and supplies blow molds and change parts to the food, beverage, healthcare, and chemical industries.