The Eastern Company (NASDAQ:EML) Director Purchases $31,824.00 in Stock

The Eastern Company (NASDAQ:EML) Director Frederick D. Disanto bought 1,700 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were bought at an average price of $18.72 per share, with a total value of $31,824.00. Following the transaction, the director now directly owns 58,046 shares in the company, valued at $1,086,621.12. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Eastern Trading Down 0.7 %

Shares of EML opened at $18.20 on Monday. The stock has a fifty day moving average price of $17.76 and a two-hundred day moving average price of $17.80. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.28 and a current ratio of 2.60. The Eastern Company has a 52-week low of $15.30 and a 52-week high of $24.35. The company has a market cap of $113.57 million, a price-to-earnings ratio of 21.67 and a beta of 1.09.

Eastern Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be given a $0.11 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.44 annualized dividend and a yield of 2.42%. Eastern’s payout ratio is 52.38%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Eastern

Several institutional investors have recently bought and sold shares of the business. Forager Capital Management LLC increased its stake in shares of Eastern by 12.7% in the 1st quarter. Forager Capital Management LLC now owns 523,082 shares of the industrial products company’s stock valued at $10,200,000 after buying an additional 58,941 shares during the period. EA Series Trust acquired a new stake in shares of Eastern in the 2nd quarter valued at $221,000. Barington Capital Group L.P. increased its stake in shares of Eastern by 0.4% in the 1st quarter. Barington Capital Group L.P. now owns 630,100 shares of the industrial products company’s stock valued at $12,274,000 after buying an additional 2,332 shares during the period. Wittenberg Investment Management Inc. increased its stake in shares of Eastern by 35.1% in the 1st quarter. Wittenberg Investment Management Inc. now owns 21,960 shares of the industrial products company’s stock valued at $428,000 after buying an additional 5,700 shares during the period. Finally, Royal Bank of Canada increased its stake in shares of Eastern by 7.3% in 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 period. Institutional investors own 69.20% of the company’s stock.

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.