Citadel Advisors LLC bought a new position in shares of The Eastern Company (NASDAQ:EML - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 12,802 shares of the industrial products company's stock, valued at approximately $340,000. Citadel Advisors LLC owned approximately 0.21% of Eastern at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Minerva Advisors LLC grew its stake in Eastern by 0.8% during the 4th quarter. Minerva Advisors LLC now owns 500,978 shares of the industrial products company's stock worth $13,296,000 after purchasing an additional 3,768 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Eastern by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 391,042 shares of the industrial products company's stock worth $10,378,000 after purchasing an additional 3,686 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Eastern by 3.9% during the 4th quarter. Russell Investments Group Ltd. now owns 256,278 shares of the industrial products company's stock worth $6,802,000 after purchasing an additional 9,524 shares in the last quarter. Geode Capital Management LLC grew its stake in Eastern by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 128,232 shares of the industrial products company's stock worth $3,404,000 after purchasing an additional 1,124 shares in the last quarter. Finally, Segall Bryant & Hamill LLC grew its stake in Eastern by 7.8% during the 4th quarter. Segall Bryant & Hamill LLC now owns 55,395 shares of the industrial products company's stock worth $1,470,000 after purchasing an additional 4,030 shares in the last quarter. 76.99% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Eastern
In other news, Director Frederick D. Disanto bought 1,116 shares of Eastern stock in a transaction dated Wednesday, May 21st. The stock was acquired at an average cost of $23.22 per share, with a total value of $25,913.52. Following the acquisition, the director now owns 73,123 shares of the company's stock, valued at approximately $1,697,916.06. This trade represents a 1.55% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders acquired 7,365 shares of company stock valued at $168,217. 17.00% of the stock is currently owned by corporate insiders.
Eastern Stock Up 6.2%
Shares of NASDAQ:EML traded up $1.38 on Friday, hitting $23.58. 6,290 shares of the company's stock were exchanged, compared to its average volume of 20,524. The firm's 50-day moving average is $22.23 and its 200 day moving average is $25.68. The company has a market capitalization of $144.95 million, a PE ratio of -22.89 and a beta of 1.08. The Eastern Company has a 1-year low of $19.06 and a 1-year high of $35.03. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.42 and a current ratio of 2.64.
Eastern (NASDAQ:EML - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.10). The business had revenue of $63.31 million for the quarter, compared to analyst estimates of $71.33 million. Eastern had a positive return on equity of 10.44% and a negative net margin of 2.26%.
Eastern Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Thursday, May 15th will be given a dividend of $0.11 per share. The ex-dividend date is Thursday, May 15th. This represents a $0.44 annualized dividend and a dividend yield of 1.87%. Eastern's dividend payout ratio is currently -33.33%.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen cut Eastern from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 8th.
Get Our Latest Report on EML
About Eastern
(
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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