Eastern (NASDAQ:EML) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Eastern (NASDAQ:EML) to a hold rating in a research note released on Saturday morning.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Eastern in a report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold”.

Eastern Stock Performance

Eastern stock opened at $18.20 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.99 and a quick ratio of 1.30. Eastern has a 12 month low of $18.11 and a 12 month high of $29.55. The company has a fifty day moving average price of $19.47 and a two-hundred day moving average price of $21.87. The company has a market cap of $110.47 million, a PE ratio of 14.68 and a beta of 0.98.

Eastern (NASDAQ:EML) last issued its earnings results 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). Eastern had a return on equity of 7.18% and a net margin of 2.96%.The business had revenue of $55.34 million for the quarter, compared to analyst estimates of $73.41 million.

Eastern Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 13th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $0.44 annualized dividend and a dividend yield of 2.4%. Eastern’s dividend payout ratio is presently 35.48%.

Insider Activity at Eastern

In related news, Director John Everets acquired 1,435 shares of Eastern stock in a transaction that occurred on Tuesday, December 16th. The stock was acquired at an average price of $19.55 per share, with a total value of $28,054.25. Following the completion of the acquisition, the director directly owned 139,855 shares of the company’s stock, valued at $2,734,165.25. This trade represents a 1.04% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frederick D. Disanto bought 2,925 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The stock was bought at an average price of $18.82 per share, with a total value of $55,048.50. Following the transaction, the director directly owned 96,851 shares in the company, valued at $1,822,735.82. This represents a 3.11% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 17,619 shares of company stock worth $343,224 over the last ninety days. 17.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets raised its holdings in Eastern by 82.9% during the third quarter. BNP Paribas Financial Markets now owns 1,273 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 577 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Eastern by 295.9% during the 2nd 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 in the last quarter. Focus Partners Wealth acquired a new position in shares of Eastern during the 3rd quarter valued at $40,000. Raymond James Financial Inc. bought a new stake in shares of Eastern in the 2nd quarter worth $70,000. Finally, Strs Ohio acquired a new stake in shares of Eastern in the first quarter valued at $127,000. 76.99% of the stock is currently owned by institutional investors.

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.