Shares of Eastern Company (The) (NASDAQ:EML - Get Free Report) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $24.83 and traded as low as $23.65. Eastern shares last traded at $24.00, with a volume of 10,231 shares traded.
Wall Street Analyst Weigh In
Separately, Wall Street Zen downgraded shares of Eastern from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 8th.
Check Out Our Latest Stock Report on Eastern
Eastern Stock Down 1.0%
The company has a debt-to-equity ratio of 0.33, a current ratio of 2.77 and a quick ratio of 1.37. The business's 50 day simple moving average is $23.08 and its 200 day simple moving average is $24.82. The company has a market capitalization of $148.52 million, a PE ratio of -18.30 and a beta of 1.08.
Eastern (NASDAQ:EML - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.10). The company had revenue of $63.31 million during the quarter, compared to analysts' expectations of $71.33 million. Eastern had a negative net margin of 3.01% and a positive return on equity of 10.22%.
Eastern Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Thursday, May 15th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend was Thursday, May 15th. Eastern's dividend payout ratio (DPR) is -33.33%.
Insider Activity
In other Eastern news, Director Frederick D. Disanto bought 1,923 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were purchased at an average cost of $22.20 per share, with a total value of $42,690.60. Following the purchase, the director directly owned 75,046 shares in the company, valued at approximately $1,666,021.20. This represents a 2.63% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have purchased 8,447 shares of company stock valued at $193,379. 17.00% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Eastern
Several large investors have recently added to or reduced their stakes in EML. Goldman Sachs Group Inc. grew its holdings in Eastern by 43.4% during 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. Strs Ohio acquired a new position in Eastern during the 1st quarter worth approximately $127,000. Empowered Funds LLC grew its holdings in Eastern by 7.1% during the 1st quarter. Empowered Funds LLC now owns 31,855 shares of the industrial products company's stock worth $807,000 after acquiring an additional 2,100 shares in the last quarter. Koss Olinger Consulting LLC acquired a new position in Eastern during the 1st quarter worth approximately $591,000. Finally, Minerva Advisors LLC grew its holdings in Eastern by 1.0% during the 1st quarter. Minerva Advisors LLC now owns 505,987 shares of the industrial products company's stock worth $12,812,000 after acquiring an additional 5,009 shares in the last quarter. 76.99% of the stock is owned by hedge funds and other institutional investors.
About Eastern
(
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.
Further Reading
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