Eastern (EML) to Release Earnings on Tuesday

Eastern (NASDAQ:EML) will be posting its quarterly earnings results after the market closes on Tuesday, November 7th. Persons that wish to register for the company’s earnings conference call can do so using this link.

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

Eastern Stock Performance

Shares of EML opened at $17.71 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.49 and a current ratio of 2.89. Eastern has a twelve month low of $15.30 and a twelve month high of $24.35. The firm’s 50 day moving average price is $17.74 and its two-hundred day moving average price is $17.73. The firm has a market cap of $110.51 million, a P/E ratio of 15.67 and a beta of 1.09.

Eastern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend is Tuesday, November 14th. Eastern’s dividend payout ratio (DPR) is currently 38.94%.

Insider Activity at Eastern

In other news, CEO Mark Anthony Hernandez acquired 1,773 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was bought at an average price of $18.66 per share, with a total value of $33,084.18. Following the transaction, the chief executive officer now directly owns 12,035 shares in the company, valued at approximately $224,573.10. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders acquired 6,113 shares of company stock valued at $112,281. Corporate insiders own 16.31% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. UBS Group AG lifted its stake in shares of Eastern by 13.0% during the 4th quarter. UBS Group AG now owns 4,559 shares of the industrial products company’s stock worth $88,000 after buying an additional 524 shares during the last quarter. Susquehanna International Group LLP acquired a new stake in Eastern in the 1st quarter worth about $245,000. Royal Bank of Canada raised its stake in Eastern by 7.3% in the 3rd quarter. Royal Bank of Canada now owns 16,200 shares of the industrial products company’s stock worth $281,000 after purchasing an additional 1,100 shares in the last quarter. State Street Corp raised its stake in Eastern by 3.9% in the 1st quarter. State Street Corp now owns 17,120 shares of the industrial products company’s stock worth $399,000 after purchasing an additional 640 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in Eastern by 469.8% in the 1st quarter. Bank of America Corp DE now owns 17,168 shares of the industrial products company’s stock worth $334,000 after purchasing an additional 14,155 shares in the last quarter. Institutional investors own 69.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Eastern in a research report on Thursday, October 5th. They issued a “buy” rating for the company.

About Eastern

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.