Eastern (NASDAQ:EML) Director Frederick Disanto Acquires 1,809 Shares of Stock

by · The Markets Daily

Eastern Company (The) (NASDAQ:EML – Get Free Report) Director Frederick Disanto acquired 1,809 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were bought at an average cost of $19.49 per share, with a total value of $35,257.41. Following the completion of the purchase, the director owned 91,164 shares of the company’s stock, valued at $1,776,786.36. This trade represents a 2.02% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Eastern Trading Down 1.5%

EML traded down $0.29 during midday trading on Friday, reaching $19.49. 7,091 shares of the company were exchanged, compared to its average volume of 10,045. The stock has a market capitalization of $118.28 million, a P/E ratio of -14.77 and a beta of 0.98. Eastern Company has a one year low of $19.06 and a one year high of $31.67. The stock’s 50-day simple moving average is $22.46 and its 200 day simple moving average is $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.

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

Eastern Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Teton Advisors LLC bought a new position in Eastern in the 3rd quarter worth about $3,293,000. Koss Olinger Consulting LLC bought a new position in shares of Eastern in the first quarter worth approximately $591,000. Minerva Advisors LLC raised its stake in Eastern by 3.8% in the second quarter. Minerva Advisors LLC now owns 525,053 shares of the industrial products company’s stock valued at $11,982,000 after purchasing an additional 19,066 shares in the last quarter. GatePass Capital LLC lifted its position in Eastern by 87.8% during the third quarter. GatePass Capital LLC now owns 33,800 shares of the industrial products company’s stock valued at $793,000 after purchasing an additional 15,800 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in Eastern in the 2nd quarter worth approximately $326,000. Institutional investors own 76.99% of the company’s stock.

Analysts Set New Price Targets

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

Get Our Latest Stock Report on EML

Eastern Company Profile

(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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