Eastern Company (The) (NASDAQ:EML - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $23.59 and traded as high as $24.50. Eastern shares last traded at $24.07, with a volume of 4,652 shares trading hands.
Eastern Stock Up 0.6%
The company has a debt-to-equity ratio of 0.28, a current ratio of 2.67 and a quick ratio of 1.33. The stock has a market cap of $154.83 million, a PE ratio of -19.23 and a beta of 1.00. The business has a fifty day moving average of $23.42 and a 200-day moving average of $23.51.
Eastern (NASDAQ:EML - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.03. The firm had revenue of $70.16 million during the quarter, compared to analyst estimates of $68.87 million. Eastern had a positive return on equity of 10.44% and a negative net margin of 3.06%.
Eastern Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, August 15th. Eastern's payout ratio is currently -33.33%.
Insider Transactions at Eastern
In related news, Director Frederick D. Disanto acquired 3,000 shares of the company's stock in a transaction dated Monday, August 18th. The shares were purchased at an average cost of $22.58 per share, with a total value of $67,740.00. Following the completion of the acquisition, the director directly owned 86,449 shares of the company's stock, valued at $1,952,018.42. This represents a 3.60% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired 7,326 shares of company stock valued at $166,901 over the last 90 days. 17.00% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Eastern
A number of large investors have recently made changes to their positions in the stock. Deutsche Bank AG acquired a new position in Eastern during the fourth quarter valued at $43,000. Tower Research Capital LLC TRC lifted its position in Eastern by 295.9% during the second quarter. Tower Research Capital LLC TRC now owns 1,738 shares of the industrial products company's stock valued at $40,000 after purchasing an additional 1,299 shares during the period. GAMMA Investing LLC lifted its position in Eastern by 7,124.4% during the first quarter. GAMMA Investing LLC now owns 2,962 shares of the industrial products company's stock valued at $75,000 after purchasing an additional 2,921 shares during the period. Raymond James Financial Inc. acquired a new position in Eastern during the second quarter valued at $70,000. Finally, Strs Ohio acquired a new position in Eastern during the first quarter valued at $127,000. 76.99% of the stock is owned by hedge funds and other institutional investors.
Eastern Company Profile
(
Get Free Report)
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.
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