The Eastern Company (NASDAQ:EML) CEO Buys $22,601.16 in Stock

The Eastern Company (NASDAQ:EML) CEO Mark Anthony Hernandez bought 1,231 shares of the stock in a transaction on Tuesday, September 5th. The shares were bought at an average price of $18.36 per share, with a total value of $22,601.16. Following the acquisition, the chief executive officer now owns 6,569 shares of the company’s stock, valued at $120,606.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Mark Anthony Hernandez also recently made the following trade(s):

• On Thursday, September 7th, Mark Anthony Hernandez bought 1,231 shares of Eastern stock. The shares were bought at an average price of $18.34 per share, with a total value of $22,576.54.
• On Thursday, August 31st, Mark Anthony Hernandez bought 850 shares of Eastern stock. The shares were bought at an average price of $18.10 per share, with a total value of $15,385.00.
• On Tuesday, August 29th, Mark Anthony Hernandez bought 850 shares of Eastern stock. The shares were bought at an average price of $18.02 per share, with a total value of $15,317.00.

Eastern Stock Performance

Shares of EML opened at $18.55 on Monday. The Eastern Company has a 12 month low of $15.30 and a 12 month high of $24.35. The stock has a fifty day moving average price of $18.27 and a 200-day moving average price of $18.26. The company has a current ratio of 2.89, a quick ratio of 1.49 and a debt-to-equity ratio of 0.41. The firm has a market cap of $115.75 million, a PE ratio of 16.42 and a beta of 1.06.

Eastern (NASDAQ:EML) last issued its quarterly earnings data on Tuesday, August 8th. The industrial products company reported $0.40 EPS for the quarter. Eastern had a return on equity of 7.50% and a net margin of 2.51%. The firm had revenue of $68.34 million during the quarter.

Eastern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 15th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Monday, August 14th. Eastern’s payout ratio is 38.94%.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Eastern in a report on Thursday. They set a “buy” rating for the company.

Hedge Funds Weigh In On Eastern

Hedge funds have recently made changes to their positions in the company. UBS Group AG increased its position in shares of Eastern by 13.0% in the 4th quarter. UBS Group AG now owns 4,559 shares of the industrial products company’s stock valued at $88,000 after acquiring an additional 524 shares during the period. EA Series Trust acquired a new stake in Eastern during the 2nd quarter worth about $221,000. Susquehanna International Group LLP purchased a new position in shares of Eastern during the 1st quarter valued at about $245,000. Royal Bank of Canada raised its stake in shares of Eastern by 7.3% during the 3rd quarter. Royal Bank of Canada now owns 16,200 shares of the industrial products company’s stock valued at $281,000 after buying an additional 1,100 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Eastern by 469.8% during the 1st quarter. Bank of America Corp DE now owns 17,168 shares of the industrial products company’s stock valued at $334,000 after buying an additional 14,155 shares during the last quarter. 69.20% of the stock is owned by institutional investors and hedge funds.

Eastern Company Profile

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.