Eastern (NASDAQ:EML) Director Purchases $40,220.00 in Stock

Eastern Company (The) (NASDAQ:EML) Director James Mitarotonda acquired 2,000 shares of the business’s stock in a transaction on Wednesday, March 18th. The shares were purchased at an average price of $20.11 per share, for a total transaction of $40,220.00. Following the transaction, the director directly owned 644,342 shares of the company’s stock, valued at approximately $12,957,717.62. The trade was a 0.31% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Eastern Trading Down 0.1%

Shares of EML opened at $20.33 on Monday. The company’s fifty day simple moving average is $18.79 and its 200-day simple moving average is $20.33. The company has a market cap of $122.83 million, a P/E ratio of 17.38 and a beta of 0.97. The company has a current ratio of 3.59, a quick ratio of 1.55 and a debt-to-equity ratio of 0.30. Eastern Company has a twelve month low of $17.61 and a twelve month high of $26.77.

Eastern (NASDAQ:EML) last released its quarterly earnings results on Tuesday, March 3rd. The industrial products company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Eastern had a return on equity of 6.52% and a net margin of 2.90%.

Institutional Investors Weigh In On Eastern

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EML. Goldman Sachs Group Inc. grew its stake in Eastern by 43.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 20,533 shares of the industrial products company’s stock worth $520,000 after acquiring an additional 6,219 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Eastern by 7.1% during the first quarter. Empowered Funds LLC now owns 31,855 shares of the industrial products company’s stock valued at $807,000 after acquiring an additional 2,100 shares in the last quarter. Strs Ohio purchased a new stake in shares of Eastern in the first quarter valued at approximately $127,000. Geode Capital Management LLC boosted its holdings in shares of Eastern by 6.3% in the second quarter. Geode Capital Management LLC now owns 138,918 shares of the industrial products company’s stock valued at $3,171,000 after purchasing an additional 8,205 shares during the period. Finally, De Lisle Partners LLP grew its stake in Eastern by 14.7% in the second quarter. De Lisle Partners LLP now owns 46,922 shares of the industrial products company’s stock worth $1,072,000 after purchasing an additional 6,000 shares in the last quarter. Institutional investors own 76.99% of the company’s stock.

Analyst Ratings Changes

EML has been the topic of a number of analyst reports. Wall Street Zen raised Eastern to a “hold” rating in a research note on Saturday, January 10th. Weiss Ratings restated a “hold (c)” rating on shares of Eastern in a report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Eastern currently has a consensus rating of “Hold”.

Eastern Company Profile

Eastern (NASDAQ:EML), based in West Haven, Connecticut, is a diversified industrial manufacturer specializing in secure hardware and metal finishing services. The company operates through two primary segments: Industrial Hardware Products and Security Products, complemented by a Metal Coatings division. Its Industrial Hardware Products segment produces cold-headed fasteners, forgings, hinges and precision components for heavy commercial vehicles, hydraulic cylinders and industrial machinery.

The Security Products segment designs and manufactures a wide range of lock and latch solutions, including padlocks, door hardware, cabinet locks and rental security towers for commercial and institutional applications.