Eastern (NASDAQ:EML) Share Price Crosses Below 200-Day Moving Average of $20.22

The Eastern Company (NASDAQ:EML – Get Rating)’s share price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $20.22 and traded as low as $16.60. Eastern shares last traded at $16.65, with a volume of 4,775 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Eastern in a research note on Friday. They set a “buy” rating on the stock.

Eastern Stock Down 1.6 %

The business’s 50 day simple moving average is $17.90 and its 200 day simple moving average is $20.22. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.69 and a quick ratio of 1.42. The company has a market capitalization of $103.73 million, a PE ratio of 10.67 and a beta of 1.05.

Eastern (NASDAQ:EML – Get Rating) last issued its quarterly earnings data on Tuesday, March 14th. The industrial products company reported $0.11 earnings per share for the quarter. Eastern had a return on equity of 8.57% and a net margin of 3.43%. The company had revenue of $69.10 million during the quarter.

Eastern Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Monday, May 15th will be issued a $0.11 dividend. The ex-dividend date is Friday, May 12th. This represents a $0.44 annualized dividend and a yield of 2.64%. Eastern’s dividend payout ratio (DPR) is currently 28.21%.

Insiders Place Their Bets

In other news, Director Charles W. Henry bought 2,000 shares of the business’s stock in a transaction on Friday, May 12th. The shares were bought at an average price of $16.60 per share, with a total value of $33,200.00. Following the completion of the transaction, the director now directly owns 1,000 shares in the company, valued at $16,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 16.31% of the stock is currently owned by insiders.

Institutional Trading of Eastern

Several hedge funds have recently modified their holdings of the stock. UBS Group AG boosted its holdings in Eastern by 13.0% in the fourth quarter. UBS Group AG now owns 4,559 shares of the industrial products company’s stock valued at $88,000 after purchasing an additional 524 shares in the last quarter. State Street Corp increased its position in Eastern by 3.9% during the first quarter. State Street Corp now owns 17,120 shares of the industrial products company’s stock worth $399,000 after buying an additional 640 shares during the period. Geode Capital Management LLC lifted its stake in Eastern by 1.3% in the first quarter. Geode Capital Management LLC now owns 53,996 shares of the industrial products company’s stock valued at $1,052,000 after buying an additional 676 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Eastern by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 417,769 shares of the industrial products company’s stock valued at $7,248,000 after acquiring an additional 1,070 shares during the period. Finally, Royal Bank of Canada grew its position in shares of Eastern by 7.3% during the third quarter. Royal Bank of Canada now owns 16,200 shares of the industrial products company’s stock worth $281,000 after acquiring an additional 1,100 shares during the last quarter. 67.54% of the stock is currently owned by institutional investors and hedge funds.

Eastern Company Profile

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The Eastern Co engages in the design, manufacture and sale of industrial hardware, security products and metal products. It operates through the following segments: Engineered Solutions and Diversified Products. The Engineered Solutions segment consists of Big 3 Precision. The Diversified Products segment consists of Frazer & Jones, Greenwald Industries, and Argo EMS.