The Eastern Company (NASDAQ:EML) Director Buys $33,999.00 in Stock

The Eastern Company (NASDAQ:EMLGet Rating) Director Frederick D. Disanto acquired 1,619 shares of the firm’s stock in a transaction on Wednesday, June 1st. The shares were acquired at an average price of $21.00 per share, with a total value of $33,999.00. Following the completion of the purchase, the director now owns 27,144 shares in the company, valued at approximately $570,024. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

NASDAQ EML traded up $0.05 on Thursday, hitting $21.00. 5,902 shares of the company’s stock traded hands, compared to its average volume of 8,763. The company has a current ratio of 2.66, a quick ratio of 1.31 and a debt-to-equity ratio of 0.57. The Eastern Company has a 1-year low of $19.90 and a 1-year high of $33.96. The firm’s 50-day moving average price is $22.40 and its two-hundred day moving average price is $24.06. The firm has a market capitalization of $131.04 million, a PE ratio of 15.67 and a beta of 0.94.

Eastern (NASDAQ:EMLGet Rating) last announced its quarterly earnings data on Monday, May 9th. The industrial products company reported $0.46 EPS for the quarter. Eastern had a net margin of 3.32% and a return on equity of 12.16%. The business had revenue of $69.02 million during the quarter.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Friday, May 13th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Thursday, May 12th. Eastern’s dividend payout ratio (DPR) is 32.84%.

Separately, StockNews.com began coverage on shares of Eastern in a research note on Sunday. They set a “buy” rating for the company.

Several large investors have recently bought and sold shares of the company. Northern Trust Corp increased its holdings in shares of Eastern by 2.8% during the 4th quarter. Northern Trust Corp now owns 15,603 shares of the industrial products company’s stock valued at $391,000 after purchasing an additional 429 shares in the last quarter. State Street Corp increased its holdings in shares of Eastern by 3.9% during the 1st quarter. State Street Corp now owns 17,120 shares of the industrial products company’s stock valued at $399,000 after purchasing an additional 640 shares in the last quarter. UBS Group AG increased its holdings in shares of Eastern by 21.2% during the 1st quarter. UBS Group AG now owns 4,702 shares of the industrial products company’s stock valued at $109,000 after purchasing an additional 822 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Eastern by 2.5% during the 4th quarter. BlackRock Inc. now owns 35,523 shares of the industrial products company’s stock valued at $890,000 after purchasing an additional 874 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Eastern by 1.6% in the 4th quarter. Wells Fargo & Company MN now owns 73,072 shares of the industrial products company’s stock worth $1,832,000 after acquiring an additional 1,132 shares in the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

About Eastern (Get Rating)

The Eastern Company designs, manufactures, and sells engineered solutions to industrial markets in the United States and internationally. It offers turnkey returnable packaging solutions that are used in the assembly process of vehicles, aircraft, and durable goods, as well as in the production process 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; and supplies blow molds and change parts to the food, beverage, healthcare, and chemical industry.

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