Eastern (NASDAQ:EML) Director John Everets Buys 1,339 Shares

Key Points

• Director John Everets bought 1,339 shares at an average price of $20.93 on March 16, raising his stake to 141,194 shares (a 0.96% increase) valued at roughly $2.96M, per an SEC filing.
• Shares traded down about 0.4% to $20.45 on low volume; the stock has a market cap of ~$123.5M, a P/E of ~17.5, and a 52‑week range of $17.61–$26.82.
• Eastern reported $0.31 EPS for the quarter, missing the $0.36 consensus by $0.05 (ROE 6.52%, net margin 2.9%), and institutional investors now own roughly 77% of the company with several funds recently increasing positions.

Eastern Company (The) (NASDAQ:EML - Get Free Report) Director John Everets bought 1,339 shares of the firm's stock in a transaction dated Monday, March 16th. The stock was acquired at an average cost of $20.93 per share, with a total value of $28,025.27. Following the transaction, the director owned 141,194 shares of the company's stock, valued at $2,955,190.42. This trade represents a 0.96% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Eastern Stock Down 0.4%

NASDAQ:EML traded down $0.09 during trading hours on Tuesday, hitting $20.45. 7,465 shares of the company's stock traded hands, compared to its average volume of 16,116. The stock's fifty day moving average price is $18.64 and its two-hundred day moving average price is $20.43. The firm has a market cap of $123.53 million, a P/E ratio of 17.47 and a beta of 0.97. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.55 and a current ratio of 3.59. Eastern Company has a twelve month low of $17.61 and a twelve month high of $26.82.

Eastern (NASDAQ:EML - Get Free Report) last announced its quarterly earnings data 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). The business had revenue of $248.78 billion for the quarter, compared to analyst estimates of $68.68 million. Eastern had a return on equity of 6.52% and a net margin of 2.90%.

Institutional Trading of Eastern

Several large investors have recently made changes to their positions in EML. Osaic Holdings Inc. increased its holdings in shares of Eastern by 3,259.7% during the 4th quarter. Osaic Holdings Inc. now owns 13,674 shares of the industrial products company's stock valued at $269,000 after acquiring an additional 13,267 shares during the last quarter. Barclays PLC grew its stake in Eastern by 10.9% in the 4th quarter. Barclays PLC now owns 9,002 shares of the industrial products company's stock valued at $177,000 after buying an additional 886 shares during the last quarter. State Street Corp raised its holdings in Eastern by 3.6% in the 4th quarter. State Street Corp now owns 74,569 shares of the industrial products company's stock worth $1,468,000 after acquiring an additional 2,575 shares during the period. Wells Fargo & Company MN lifted its position in Eastern by 6.2% during the 4th quarter. Wells Fargo & Company MN now owns 133,039 shares of the industrial products company's stock worth $2,620,000 after acquiring an additional 7,779 shares during the last quarter. Finally, Barington Companies Management LLC boosted its holdings in Eastern by 0.8% during the fourth quarter. Barington Companies Management LLC now owns 634,933 shares of the industrial products company's stock valued at $12,502,000 after acquiring an additional 4,833 shares during the period. Institutional investors own 76.99% of the company's stock.

Analysts Set New Price Targets

EML has been the topic of several research reports. Wall Street Zen upgraded shares of 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 research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of "Hold".

About Eastern

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.

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