Wells Fargo & Company MN Sells 5,887 Shares of The Eastern Company (NASDAQ:EML)

Wells Fargo & Company MN lessened its position in shares of The Eastern Company (NASDAQ:EML) by 4.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 128,716 shares of the industrial products company’s stock after selling 5,887 shares during the quarter. Wells Fargo & Company MN owned about 2.08% of Eastern worth $3,416,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of EML. Geode Capital Management LLC grew its stake in shares of Eastern by 0.4% during the third quarter. Geode Capital Management LLC now owns 127,108 shares of the industrial products company’s stock worth $4,126,000 after purchasing an additional 449 shares during the period. State Street Corp boosted its stake in Eastern by 8.3% during the 3rd quarter. State Street Corp now owns 68,301 shares of the industrial products company’s stock worth $2,216,000 after acquiring an additional 5,225 shares during the last quarter. HighTower Advisors LLC bought a new stake in Eastern in the third quarter valued at approximately $231,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Eastern by 19.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,099 shares of the industrial products company’s stock worth $427,000 after purchasing an additional 2,577 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Eastern by 226.4% during the third quarter. JPMorgan Chase & Co. now owns 7,247 shares of the industrial products company’s stock worth $235,000 after purchasing an additional 5,027 shares in the last quarter. Institutional investors and hedge funds own 76.99% of the company’s stock.

Eastern Stock Performance

Shares of EML opened at $19.70 on Wednesday. The firm’s 50 day moving average price is $25.45 and its two-hundred day moving average price is $27.62. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.42 and a current ratio of 2.64. The Eastern Company has a twelve month low of $19.12 and a twelve month high of $35.03. The firm has a market cap of $120.68 million, a P/E ratio of -19.13 and a beta of 0.89.

Eastern (NASDAQ:EML) last posted its quarterly earnings data on Tuesday, March 11th. The industrial products company reported $0.42 earnings per share (EPS) for the quarter. The business had revenue of $66.70 million during the quarter. Eastern had a positive return on equity of 10.44% and a negative net margin of 2.26%.

Eastern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend was Friday, February 14th. Eastern’s dividend payout ratio (DPR) is currently -33.08%.

Analyst Ratings Changes

Separately, StockNews.com lowered Eastern from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 19th.

Eastern 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.