Eastern (NASDAQ:EML) Director James Mitarotonda Purchases 1,467 Shares

by · The Markets Daily

Eastern Company (The) (NASDAQ:EML – Get Free Report) Director James Mitarotonda purchased 1,467 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was acquired at an average price of $19.54 per share, with a total value of $28,665.18. Following the completion of the purchase, the director directly owned 631,567 shares in the company, valued at $12,340,819.18. This trade represents a 0.23% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Eastern Price Performance

Shares of Eastern stock traded down $0.29 on Friday, hitting $19.49. 7,091 shares of the company traded hands, compared to its average volume of 10,044. Eastern Company has a 52 week low of $19.06 and a 52 week high of $31.67. The business has a 50-day simple moving average of $22.55 and a 200 day simple moving average of $22.87. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.33 and a current ratio of 2.67. The stock has a market capitalization of $118.28 million, a P/E ratio of -14.77 and a beta of 0.98.

Eastern (NASDAQ:EML – Get Free Report) last issued its earnings results on Tuesday, November 4th. The industrial products company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.64). The firm had revenue of $55.34 million during the quarter, compared to the consensus estimate of $73.41 million. Eastern had a positive return on equity of 10.44% and a negative net margin of 3.06%.

Eastern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 14th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, November 14th. Eastern’s payout ratio is 35.48%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Eastern in a report on Thursday. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

View Our Latest Stock Analysis on Eastern

Institutional Investors Weigh In On Eastern

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Minerva Advisors LLC raised its stake in shares of Eastern by 1.0% during the 3rd quarter. Minerva Advisors LLC now owns 530,053 shares of the industrial products company’s stock valued at $12,435,000 after buying an additional 5,000 shares during the last quarter. Gamco Investors INC. ET AL lifted its holdings in Eastern by 1.8% in the second quarter. Gamco Investors INC. ET AL now owns 511,218 shares of the industrial products company’s stock valued at $11,666,000 after acquiring an additional 8,999 shares during the period. Russell Investments Group Ltd. boosted its position in Eastern by 0.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 257,126 shares of the industrial products company’s stock worth $6,032,000 after purchasing an additional 775 shares in the last quarter. Gabelli Funds LLC grew its stake in shares of Eastern by 0.4% during the 3rd quarter. Gabelli Funds LLC now owns 165,000 shares of the industrial products company’s stock worth $3,871,000 after purchasing an additional 600 shares during the period. Finally, Teton Advisors LLC acquired a new position in shares of Eastern in the third quarter worth about $3,293,000. 76.99% of the stock is owned by institutional investors and hedge funds.

About Eastern

(Get Free Report)

The Eastern Company designs, manufactures, and sells engineered solutions to industrial markets in the United States and internationally. The company offers turnkey returnable packaging solutions, which are used in the assembly processes of vehicles, aircraft, and durable goods, as well as in production processes of plastic packaging products, packaged consumer goods, and pharmaceuticals; designs and manufactures blow mold tools and injection blow mold tooling products, and 2-step stretch blow molds and related components for the stretch blow molding industry; and supplies blow molds and change parts to the food, beverage, healthcare, and chemical industries.

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