The Eastern Company (NASDAQ:EML) Director Acquires $18,717.48 in Stock

The Eastern Company (NASDAQ:EML) Director Frederick D. Disanto purchased 654 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was bought at an average price of $28.62 per share, with a total value of $18,717.48. Following the transaction, the director now directly owns 68,162 shares in the company, valued at $1,950,796.44. This trade represents a 0.97 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Eastern Stock Performance

Shares of NASDAQ:EML remained flat at $28.99 during midday trading on Monday. The company had a trading volume of 2,867 shares, compared to its average volume of 23,273. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.42 and a current ratio of 2.64. The Eastern Company has a fifty-two week low of $20.50 and a fifty-two week high of $35.78. The company has a market capitalization of $179.25 million, a price-to-earnings ratio of -28.15 and a beta of 0.98. The company has a fifty day simple moving average of $30.13 and a two-hundred day simple moving average of $29.21.

Eastern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 15th were given a $0.11 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.52%. Eastern’s dividend payout ratio (DPR) is -42.72%.

Institutional Investors Weigh In On Eastern

Several hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC lifted its stake in Eastern by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 127,108 shares of the industrial products company’s stock worth $4,126,000 after acquiring an additional 449 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Eastern by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 3,086 shares of the industrial products company’s stock valued at $100,000 after acquiring an additional 1,739 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Eastern by 45.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,522 shares of the industrial products company’s stock valued at $439,000 after acquiring an additional 4,218 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Eastern in the 2nd quarter valued at approximately $110,000. Finally, Barclays PLC grew its holdings in Eastern by 277.7% in the 3rd quarter. Barclays PLC now owns 6,875 shares of the industrial products company’s stock valued at $223,000 after buying an additional 5,055 shares during the last quarter. 76.99% of the stock is owned by hedge funds and other 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.