Eastern Company (The) (NASDAQ:EML – Get Free Report) Director Peggy Scott bought 1,176 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was purchased at an average price of $21.40 per share, for a total transaction of $25,166.40. Following the completion of the transaction, the director directly owned 26,262 shares of the company’s stock, valued at $562,006.80. This represents a 4.69% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.
Eastern Price Performance
Shares of Eastern stock opened at $23.68 on Friday. The stock has a 50 day moving average of $21.72 and a 200 day moving average of $20.10. Eastern Company has a 12 month low of $17.61 and a 12 month high of $26.77. The firm has a market cap of $142.79 million, a PE ratio of 24.67 and a beta of 0.87. The company has a current ratio of 3.52, a quick ratio of 1.64 and a debt-to-equity ratio of 0.29.
Eastern (NASDAQ:EML – Get Free Report) last released its quarterly earnings results on Tuesday, May 12th. The industrial products company reported $0.11 earnings per share 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 firm had revenue of $59.68 million for the quarter, compared to analysts’ expectations of $67.74 million.
Eastern Announces Dividend
Wall Street Analyst Weigh In
Separately, Royal Bank Of Canada cut 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.com, the company presently has a consensus rating of “Hold”.
Read Our Latest Stock Analysis on EML
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in EML. Barington Companies Management LLC grew its position in Eastern by 0.8% in the fourth quarter. Barington Companies Management LLC now owns 634,933 shares of the industrial products company’s stock worth $12,502,000 after acquiring an additional 4,833 shares in the last quarter. Minerva Advisors LLC increased its stake in Eastern by 1.0% during the third 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 during the last quarter. Gamco Investors INC. ET AL raised its position in Eastern by 0.7% during the fourth quarter. Gamco Investors INC. ET AL now owns 515,545 shares of the industrial products company’s stock valued at $10,151,000 after purchasing an additional 3,827 shares during the period. Dimensional Fund Advisors LP raised its position in Eastern by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 388,292 shares of the industrial products company’s stock valued at $7,645,000 after purchasing an additional 1,571 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in shares of Eastern by 0.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 257,126 shares of the industrial products company’s stock valued at $6,032,000 after purchasing an additional 775 shares during the last quarter. 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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