Shares of Eastern Company (The) (NASDAQ:EML – Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $19.83 and traded as high as $21.65. Eastern shares last traded at $21.65, with a volume of 12,954 shares traded.
Trending Headlines about Eastern
Here are the key news stories impacting Eastern this week:
- Neutral Sentiment: Eastern’s latest short-interest report showed 0 shares short and no meaningful change in bearish positioning, which may slightly reduce concerns about downside pressure but is unlikely to be a major stock catalyst.
- Neutral Sentiment: Recent headlines mentioning “Eastern” mostly refer to unrelated companies such as China Eastern Airlines, Virgin Galactic, and other non-EML entities, so they do not appear to directly affect Eastern Company’s fundamentals.
Wall Street Analysts Forecast Growth
Separately, Royal Bank Of Canada lowered Eastern from a “moderate buy” rating to a “hold” rating in a research report on Monday, April 13th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.
Eastern Stock Up 1.5%
The stock has a 50 day moving average price of $21.25 and a 200 day moving average price of $19.83. The company has a market cap of $130.55 million, a P/E ratio of 22.55 and a beta of 0.88. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.64 and a current ratio of 3.52.
Eastern (NASDAQ:EML – Get Free Report) last announced its earnings results on Tuesday, May 12th. The industrial products company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.39). Eastern had a net margin of 2.41% and a return on equity of 5.46%. The company had revenue of $59.68 million for the quarter, compared to analysts’ expectations of $67.74 million.
Eastern Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, May 15th. Eastern’s dividend payout ratio is currently 45.83%.
Insider Buying and Selling at Eastern
In related news, Director James A. Mitarotonda bought 2,000 shares of Eastern stock in a transaction dated Wednesday, March 18th. The stock was acquired at an average cost of $20.11 per share, with a total value of $40,220.00. Following the completion of the acquisition, the director directly owned 644,342 shares in the company, valued at approximately $12,957,717.62. This trade represents a 0.31% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Everets acquired 1,339 shares of the stock in a transaction on Monday, March 16th. The shares were purchased at an average price of $20.93 per share, for a total transaction of $28,025.27. Following the completion of the transaction, the director owned 141,194 shares in the company, valued at approximately $2,955,190.42. This represents a 0.96% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have bought 17,680 shares of company stock valued at $347,161. 18.40% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Eastern
Several institutional investors and hedge funds have recently bought and sold shares of EML. BNP Paribas Financial Markets increased its holdings in shares of Eastern by 82.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,273 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 577 shares during the period. Focus Partners Wealth acquired a new position in shares of Eastern in the 3rd quarter valued at about $40,000. Tower Research Capital LLC TRC increased its holdings in shares of Eastern by 295.9% in 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 during the period. Raymond James Financial Inc. acquired a new position in shares of Eastern in the 2nd quarter valued at about $70,000. Finally, Fifth Third Bancorp acquired a new position in shares of Eastern in the 1st quarter valued at about $73,000. Hedge funds and other institutional investors own 76.99% of the company’s stock.
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.
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