The Eastern Company (NASDAQ:EML) Short Interest Update

The Eastern Company (NASDAQ:EMLGet Rating) saw a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 51,100 shares, a growth of 26.8% from the May 15th total of 40,300 shares. Based on an average daily volume of 7,400 shares, the short-interest ratio is presently 6.9 days. Approximately 0.9% of the company’s shares are short sold.

EML stock opened at $19.88 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.31 and a current ratio of 2.66. The firm has a market cap of $124.05 million, a PE ratio of 14.84 and a beta of 0.94. Eastern has a one year low of $19.74 and a one year high of $33.18. The firm’s fifty day moving average is $21.84 and its 200 day moving average is $23.74.

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

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Friday, May 13th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend was Thursday, May 12th. Eastern’s payout ratio is 32.84%.

In other news, Director Frederick D. Disanto bought 1,619 shares of the firm’s stock in a transaction that occurred on Wednesday, June 1st. The stock was bought at an average price of $21.00 per share, with a total value of $33,999.00. Following the completion of the transaction, the director now directly owns 27,144 shares of the company’s stock, valued at approximately $570,024. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederick D. Disanto purchased 2,000 shares of the firm’s stock in a transaction on Friday, May 20th. The stock was bought at an average cost of $20.92 per share, with a total value of $41,840.00. Following the acquisition, the director now owns 23,725 shares of the company’s stock, valued at approximately $496,327. The disclosure for this purchase can be found here. Insiders have purchased a total of 6,421 shares of company stock worth $134,009 over the last quarter. 16.31% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of EML. Forager Capital Management LLC purchased a new position in shares of Eastern in the fourth quarter worth about $8,114,000. Gamco Investors INC. ET AL lifted its stake in shares of Eastern by 3.4% in the fourth quarter. Gamco Investors INC. ET AL now owns 554,743 shares of the industrial products company’s stock worth $13,907,000 after buying an additional 18,298 shares in the last quarter. North Star Investment Management Corp. lifted its stake in shares of Eastern by 1.1% in the fourth quarter. North Star Investment Management Corp. now owns 185,313 shares of the industrial products company’s stock worth $4,646,000 after buying an additional 2,004 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Eastern by 6.9% in the third quarter. Geode Capital Management LLC now owns 51,216 shares of the industrial products company’s stock worth $1,288,000 after buying an additional 3,286 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Eastern by 0.4% in the third quarter. Dimensional Fund Advisors LP now owns 417,765 shares of the industrial products company’s stock worth $10,511,000 after buying an additional 1,721 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Separately, StockNews.com assumed coverage on shares of Eastern in a research report on Tuesday. They set a “buy” rating on the stock.

Eastern Company Profile (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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