Frederick Disanto Buys 3,000 Shares of Eastern (NASDAQ:EML) Stock

Key Points

• Frederick Disanto, a director at Eastern Company, recently purchased 3,000 shares of the company's stock at an average price of $22.58 per share, increasing his total ownership to 86,449 shares.
• Eastern Company reported quarterly earnings of $0.57 per share, exceeding analyst expectations and generating revenue of $70.16 million.
• The company announced a quarterly dividend of $0.11 per share, to be paid on September 15th, indicating a 2.0% dividend yield.

Eastern Company (The) (NASDAQ:EML - Get Free Report) Director Frederick Disanto purchased 3,000 shares of the business's stock in a transaction on Monday, August 18th. The stock was 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 owned 86,449 shares in the company, valued at approximately $1,952,018.42. This trade represents a 3.60% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Eastern Price Performance

Shares of EML traded down $0.45 during mid-day trading on Tuesday, reaching $22.14. 12,570 shares of the stock traded hands, compared to its average volume of 9,991. The company has a market cap of $135.05 million, a price-to-earnings ratio of -16.77 and a beta of 1.13. Eastern Company has a 1 year low of $19.06 and a 1 year high of $35.03. The firm has a fifty day moving average price of $23.22 and a 200 day moving average price of $24.01. The company has a current ratio of 2.67, a quick ratio of 1.33 and a debt-to-equity ratio of 0.28.

Eastern (NASDAQ:EML - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.03. Eastern had a positive return on equity of 10.44% and a negative net margin of 3.06%.The company had revenue of $70.16 million during the quarter, compared to analyst estimates of $68.87 million.

Eastern Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.44 annualized dividend and a dividend yield of 2.0%. Eastern's payout ratio is presently -33.33%.

Institutional Trading of Eastern

Large investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC raised its holdings in shares of 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 last quarter. Raymond James Financial Inc. bought a new stake in Eastern in the 2nd quarter worth approximately $70,000. Gamco Investors INC. ET AL raised its stake in Eastern by 1.8% during the 2nd quarter. Gamco Investors INC. ET AL now owns 511,218 shares of the industrial products company's stock valued at $11,666,000 after buying an additional 8,999 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Eastern by 3.5% during the 2nd quarter. First Trust Advisors LP now owns 18,455 shares of the industrial products company's stock valued at $421,000 after buying an additional 617 shares during the period. Finally, Minerva Advisors LLC boosted its stake in shares of Eastern by 3.8% in the 2nd quarter. Minerva Advisors LLC now owns 525,053 shares of the industrial products company's stock worth $11,982,000 after buying an additional 19,066 shares during the last quarter. 76.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of Eastern from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 8th.

About Eastern

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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