Eastern Company (The) (NASDAQ:EML) to Issue $0.11 Quarterly Dividend

Key Points

• Earnings Announcement: Eastern Company reported a quarterly earnings per share (EPS) of $0.31, missing estimates by $0.10, with revenues of $63.31 million falling short of analyst expectations.
• Quarterly Dividend: The company declared a quarterly dividend of $0.11 per share, with an associated yield of 2.0%, payable on September 15th to investors of record as of August 15th.
• Stock Performance: Shares of Eastern Company rose 0.8% to $22.51, with a market capitalization of $138.37 million and a debt-to-equity ratio of 0.33.

Eastern Company (The) (NASDAQ:EML - Get Free Report) declared a quarterly dividend on Thursday, July 31st, Wall Street Journal reports. Investors of record on Friday, August 15th will be paid a dividend of 0.11 per share by the industrial products company on Monday, September 15th. This represents a c) dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, August 15th.

Eastern has a dividend payout ratio of 17.2% meaning its dividend is sufficiently covered by earnings.

Eastern Price Performance

NASDAQ:EML traded up $0.24 during mid-day trading on Friday, reaching $22.54. The stock had a trading volume of 1,648 shares, compared to its average volume of 7,923. The stock has a 50-day simple moving average of $23.19 and a two-hundred day simple moving average of $24.23. The stock has a market capitalization of $137.49 million, a PE ratio of -17.08 and a beta of 1.13. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.67 and a quick ratio of 1.37. Eastern has a 12 month low of $19.06 and a 12 month high of $35.03.

Eastern (NASDAQ:EML - Get Free Report) last posted its earnings results on Tuesday, August 5th. The industrial products company reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.54 by $0.03. The firm had revenue of $70.16 million for the quarter, compared to analysts' expectations of $68.87 million. Eastern had a negative net margin of 3.06% and a positive return on equity of 10.44%.

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.