Insider Buying: Eastern (NASDAQ:EML) Director Purchases $28,054.25 in Stock
by Jessica Moore · The Cerbat GemEastern Company (The) (NASDAQ:EML – Get Free Report) Director John Everets purchased 1,435 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were purchased at an average cost of $19.55 per share, with a total value of $28,054.25. Following the completion of the acquisition, the director owned 139,855 shares in the company, valued at $2,734,165.25. The trade was a 1.04% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.
Eastern Stock Performance
Shares of NASDAQ EML opened at $20.18 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. The firm has a market cap of $122.49 million, a price-to-earnings ratio of 16.27 and a beta of 1.00. The stock’s fifty day moving average price is $20.21 and its two-hundred day moving average price is $22.34. Eastern Company has a one year low of $18.49 and a one year high of $29.55.
Eastern (NASDAQ:EML – Get Free Report) last posted 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 firm had revenue of $55.34 million for the quarter, compared to analyst estimates of $73.41 million.
Eastern Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 13th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $0.44 dividend on an annualized basis and a yield of 2.2%. Eastern’s payout ratio is currently 35.48%.
Institutional Investors Weigh In On Eastern
Institutional investors and hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its stake in Eastern by 43.4% during the first quarter. Goldman Sachs Group Inc. now owns 20,533 shares of the industrial products company’s stock worth $520,000 after buying an additional 6,219 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Eastern by 7.1% during the 1st quarter. Empowered Funds LLC now owns 31,855 shares of the industrial products company’s stock worth $807,000 after acquiring an additional 2,100 shares during the period. Strs Ohio acquired a new stake in shares of Eastern during the 1st quarter worth approximately $127,000. Los Angeles Capital Management LLC acquired a new stake in shares of Eastern during the 2nd quarter worth approximately $326,000. Finally, Geode Capital Management LLC increased its stake in Eastern by 6.3% in the second quarter. Geode Capital Management LLC now owns 138,918 shares of the industrial products company’s stock valued at $3,171,000 after acquiring an additional 8,205 shares during the last quarter. Institutional investors own 76.99% of the company’s stock.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Eastern in a research report on Monday. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.
Get Our Latest Research Report on Eastern
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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