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Frederick D. Disanto, director of The Eastern Company (NASDAQ:EML – Get Rating), acquired 1,002 shares of the company in a transaction dated Tuesday, May 17. The shares were purchased at an average price of $20.24 per share, for a total transaction of $20,280.48. As a result of the acquisition, the administrator now owns 20,755 shares of the company, valued at approximately $420,081.20. The transaction was disclosed in a document filed with the SEC, which can be accessed on the SEC’s website.
NASDAQ EML shares opened at $20.21 on Thursday. The company has a market capitalization of $126.11 million, a price-earnings ratio of 15.08 and a beta of 0.93. Compagnie de l’Est has a one-year low of $19.90 and a one-year high of $33.96. The company has a fifty-day simple moving average of $22.94 and a 200-day simple moving average of $24.30. The company has a current ratio of 2.66, a quick ratio of 1.31 and a debt ratio of 0.57.
Eastern (NASDAQ:EML – Get Rating) last announced its quarterly results on Thursday, March 17. The industrial products company reported earnings per share (EPS) of $0.65 for the quarter. The company had revenue of $59.60 million for the quarter. Eastern had a net margin of 3.32% and a return on equity of 12.16%.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 15. Investors of record on Friday, May 13 will receive a dividend of $0.11. The ex-dividend date is Thursday, May 12. This represents a dividend of $0.44 on an annualized basis and a yield of 2.18%. Eastern’s payout ratio is currently 32.84%.
Separately, StockNews.com assumed coverage of Eastern in a Friday, May 13 research report. They set a “buy” rating on the stock.
A number of large investors have recently bought and sold shares of EML. Cove Street Capital LLC acquired a new position in Eastern during the third quarter at a value of $65,000. UBS Group AG increased its position in Eastern shares by 21.2% during the first quarter. UBS Group AG now owns 4,702 shares of the industrial products company worth $109,000 after buying 822 more shares last quarter. Morgan Stanley increased its position in Eastern shares by 50.7% during the second quarter. Morgan Stanley now owns 5,884 shares of the industrial products company worth $178,000 after buying an additional 1,980 shares last quarter. Northern Trust Corp increased its stake in Eastern by 2.8% during the fourth quarter. Northern Trust Corp now owns 15,603 shares of the industrial products company valued at $391,000 after buying 429 more shares in the last quarter. Finally, State Street Corp increased its position in Eastern by 3.9% in the first quarter. State Street Corp now owns 17,120 shares of the industrial products company valued at $399,000 after buying an additional 640 shares last quarter. 61.80% of the shares are held by hedge funds and other institutional investors.
Eastern Company Profile (Get an assessment)
The Eastern Company designs, manufactures and sells engineered solutions to industrial markets in the United States and abroad. 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, consumer goods packaged and pharmaceutical products; designs and manufactures blow molding tools and injection blow molding tooling products, as well as 2-step stretch blow molds and related components; and supplies blow molds and spare parts to the food, beverage, healthcare and chemical industry.
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