Frederick Disanto Purchases 1,000 Shares of Eastern (NASDAQ:EML) Stock

Key Points

• Director Frederick Disanto of Eastern Company purchased 1,000 shares at an average price of $22.83, increasing his total holdings to 87,449 shares.
• Eastern reported earnings of $0.57 per share for the last quarter, exceeding estimates, with revenues of $70.16 million.
• The company announced a quarterly dividend of $0.11 per share, representing an annualized yield of 2.0%, payable on September 15th.

Eastern Company (The) (NASDAQ:EML - Get Free Report) Director Frederick Disanto acquired 1,000 shares of the firm's stock in a transaction on Tuesday, August 19th. The stock was purchased at an average price of $22.83 per share, with a total value of $22,830.00. Following the purchase, the director owned 87,449 shares in the company, valued at approximately $1,996,460.67. The trade was a 1.16% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Eastern Stock Performance

Shares of NASDAQ:EML traded down $0.45 during midday trading on Tuesday, reaching $22.14. The company had a trading volume of 12,570 shares, compared to its average volume of 9,991. The company has a current ratio of 2.67, a quick ratio of 1.33 and a debt-to-equity ratio of 0.28. The stock has a market cap of $135.05 million, a P/E ratio of -16.77 and a beta of 1.13. Eastern Company has a 52-week low of $19.06 and a 52-week high of $35.03. The company's 50 day moving average price is $23.22 and its 200 day moving average price is $24.01.

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

Eastern Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be given a dividend of $0.11 per share. The ex-dividend date is Friday, August 15th. This represents a $0.44 annualized dividend and a dividend yield of 2.0%. Eastern's dividend payout ratio is currently -33.33%.

Institutional Investors Weigh In On Eastern

Several large investors have recently added to or reduced their stakes in EML. JPMorgan Chase & Co. boosted its position in shares of Eastern by 165.2% during the 4th quarter. JPMorgan Chase & Co. now owns 19,221 shares of the industrial products company's stock valued at $510,000 after acquiring an additional 11,974 shares during the last quarter. Geode Capital Management LLC lifted its position in Eastern by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 128,232 shares of the industrial products company's stock valued at $3,404,000 after purchasing an additional 1,124 shares during the last quarter. Barclays PLC grew its stake 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 buying an additional 949 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Eastern by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 391,042 shares of the industrial products company's stock valued at $10,378,000 after buying an additional 3,686 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Eastern by 218.2% during 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. Institutional investors own 76.99% of the company's stock.

Wall Street Analyst Weigh In

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

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.

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