Eastern Company (The) (NASDAQ:EML – Get Free Report) Director Frederick Disanto acquired 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were purchased at an average price of $21.25 per share, with a total value of $21,250.00. Following the completion of the acquisition, the director owned 105,424 shares of the company’s stock, valued at $2,240,260. This represents a 0.96% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Eastern Stock Up 0.2%
Shares of NASDAQ:EML traded up $0.04 during mid-day trading on Wednesday, reaching $21.92. 23,365 shares of the stock were exchanged, compared to its average volume of 17,051. The company has a quick ratio of 1.64, a current ratio of 3.52 and a debt-to-equity ratio of 0.29. The company has a market cap of $132.18 million, a P/E ratio of 22.83 and a beta of 0.87. Eastern Company has a one year low of $17.61 and a one year high of $26.77. The stock’s 50 day simple moving average is $21.59 and its 200-day simple moving average is $20.03.
Eastern (NASDAQ:EML – Get Free Report) last posted 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). The firm had revenue of $59.68 million for the quarter, compared to the consensus estimate of $67.74 million. Eastern had a return on equity of 5.46% and a net margin of 2.41%.
Eastern Dividend Announcement
Analyst Upgrades and Downgrades
Separately, Royal Bank Of Canada downgraded Eastern from a “moderate buy” rating to a “hold” rating in a report on Monday, April 13th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.
Read Our Latest Stock Analysis on EML
Institutional Trading of Eastern
A number of hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC lifted its position in shares of Eastern by 15.6% in the first quarter. Renaissance Technologies LLC now owns 133,237 shares of the industrial products company’s stock valued at $2,697,000 after buying an additional 18,000 shares during the last quarter. Sei Investments Co. acquired a new stake in Eastern during the 1st quarter worth approximately $940,000. Fifth Third Bancorp acquired a new stake in Eastern during the 1st quarter worth approximately $73,000. Osaic Holdings Inc. lifted its holdings in Eastern by 3,259.7% during the 4th quarter. Osaic Holdings Inc. now owns 13,674 shares of the industrial products company’s stock worth $269,000 after purchasing an additional 13,267 shares during the last quarter. Finally, Barclays PLC lifted its holdings in Eastern by 10.9% during the 4th quarter. Barclays PLC now owns 9,002 shares of the industrial products company’s stock worth $177,000 after purchasing an additional 886 shares during the last quarter. 76.99% of the stock is owned by institutional investors and hedge funds.
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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