Eastern (NASDAQ:EML) Director Peggy Scott Buys 1,064 Shares of Stock
by Michael Walen · The Markets DailyEastern Company (The) (NASDAQ:EML – Get Free Report) Director Peggy Scott purchased 1,064 shares of Eastern stock in a transaction that occurred on Monday, March 16th. The stock was acquired at an average cost of $20.93 per share, with a total value of $22,269.52. Following the transaction, the director owned 25,086 shares in the company, valued at $525,049.98. This trade represents a 4.43% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Eastern Stock Down 0.4%
EML traded down $0.09 during trading on Tuesday, hitting $20.45. 7,465 shares of the company’s stock were exchanged, compared to its average volume of 16,116. Eastern Company has a fifty-two week low of $17.61 and a fifty-two week high of $26.82. The stock has a market cap of $123.53 million, a P/E ratio of 17.47 and a beta of 0.97. The business’s 50 day moving average is $18.64 and its two-hundred day moving average is $20.43. The company has a quick ratio of 1.55, a current ratio of 3.59 and a debt-to-equity ratio of 0.30.
Eastern (NASDAQ:EML – Get Free Report) last posted its earnings results on Tuesday, March 3rd. The industrial products company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Eastern had a return on equity of 6.52% and a net margin of 2.90%.The business had revenue of $248.78 billion during the quarter, compared to analyst estimates of $68.68 million.
Wall Street Analysts Forecast Growth
EML has been the topic of several recent analyst reports. Wall Street Zen upgraded Eastern to a “hold” rating in a research note on Saturday, January 10th. Weiss Ratings restated a “hold (c)” rating on shares of Eastern in a report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold”.
Check Out Our Latest Stock Report on Eastern
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in EML. BNP Paribas Financial Markets grew its position in shares of Eastern by 82.9% during 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 in the last quarter. Gabelli Funds LLC raised its holdings in shares of Eastern by 0.4% in the 3rd quarter. Gabelli Funds LLC now owns 165,000 shares of the industrial products company’s stock valued at $3,871,000 after acquiring an additional 600 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Eastern by 3.5% in the 2nd quarter. First Trust Advisors LP now owns 18,455 shares of the industrial products company’s stock valued at $421,000 after acquiring an additional 617 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Eastern by 0.3% during 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 acquiring an additional 775 shares during the last quarter. Finally, Barclays PLC grew its holdings in shares of Eastern by 10.9% during the fourth quarter. Barclays PLC now owns 9,002 shares of the industrial products company’s stock worth $177,000 after purchasing an additional 886 shares in the last quarter. Institutional investors own 76.99% of the company’s stock.
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.