Eastern (NASDAQ:EML) Share Price Crosses Below 200 Day Moving Average - What's Next?

Eastern Company (The) (NASDAQ:EML - Get Free Report)'s share price crossed 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.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded Eastern from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 8th.

Eastern Trading Down 1.0%

The firm has a fifty day simple moving average of $23.22 and a two-hundred day simple moving average of $24.78. The firm has a market capitalization of $149.08 million, a P/E ratio of -18.36 and a beta of 1.08. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.77 and a quick ratio of 1.37.

Eastern (NASDAQ:EML - Get Free Report) last issued its quarterly earnings data 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). Eastern had a positive return on equity of 10.22% and a negative net margin of 3.01%. The business had revenue of $63.31 million during the quarter, compared to analysts' expectations of $71.33 million.

Eastern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Thursday, May 15th were paid a dividend of $0.11 per share. The ex-dividend date was Thursday, May 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.82%. Eastern's dividend payout ratio (DPR) is currently -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 bought at an average cost of $22.20 per share, with a total value of $42,690.60. Following the completion of the purchase, the director directly owned 75,046 shares of the company's stock, valued at $1,666,021.20. This trade represents a 2.63% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders bought 8,447 shares of company stock valued at $193,379 over the last quarter. 17.00% of the stock is owned by company insiders.

Institutional Trading of Eastern

Several large investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its holdings in Eastern by 218.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,120 shares of the industrial products company's stock worth $30,000 after acquiring an additional 768 shares during the last quarter. Deutsche Bank AG bought a new stake in Eastern in the 4th quarter worth approximately $43,000. GAMMA Investing LLC grew its position in Eastern by 7,124.4% in the 1st quarter. GAMMA Investing LLC now owns 2,962 shares of the industrial products company's stock worth $75,000 after purchasing an additional 2,921 shares during the period. Strs Ohio bought a new stake in Eastern in the 1st quarter worth approximately $127,000. Finally, Barclays PLC grew its position in Eastern by 13.8% in the 4th quarter. Barclays PLC now owns 7,824 shares of the industrial products company's stock worth $207,000 after purchasing an additional 949 shares during the period. 76.99% of the stock is owned by institutional investors.

Eastern Company Profile

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.