Eastern Company (The) (EML) To Go Ex-Dividend on May 15th

Eastern Company (The) (NASDAQ:EML) announced a quarterly dividend on Wednesday, May 6th. Investors of record on Friday, May 15th will be paid a dividend of 0.11 per share by the industrial products company on Monday, June 15th. This represents a c) annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, May 15th.

Eastern has a dividend payout ratio of 17.2% meaning its dividend is sufficiently covered by earnings.

Eastern Trading Up 1.6%

Shares of NASDAQ:EML opened at $22.32 on Wednesday. Eastern has a 52 week low of $17.61 and a 52 week high of $26.77. The company’s 50 day moving average is $20.92 and its two-hundred day moving average is $19.84. The company has a current ratio of 3.59, a quick ratio of 1.55 and a debt-to-equity ratio of 0.30. The company has a market cap of $134.72 million, a PE ratio of 19.08 and a beta of 0.88.

Eastern (NASDAQ:EML) last announced its quarterly earnings data on Tuesday, May 12th. The industrial products company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.39). Eastern had a net margin of 2.90% and a return on equity of 6.52%. The firm had revenue of $59.68 million during the quarter, compared to analysts’ expectations of $67.74 million.

Insider Transactions at Eastern

In related news, Director John Everets purchased 1,339 shares of the business’s stock in a transaction dated Monday, March 16th. The stock was acquired at an average price of $20.93 per share, for a total transaction of $28,025.27. Following the acquisition, the director directly owned 141,194 shares of the company’s stock, valued at $2,955,190.42. This trade represents a 0.96% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James A. Mitarotonda purchased 5,067 shares of the business’s stock in a transaction dated Friday, March 6th. The stock was bought at an average price of $18.29 per share, with a total value of $92,675.43. Following the acquisition, the director directly owned 640,000 shares in the company, valued at approximately $11,705,600. This represents a 0.80% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 17,680 shares of company stock valued at $347,161 in the last quarter. Insiders own 18.40% of the company’s stock.

Hedge Funds Weigh In On Eastern

Large investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets increased its holdings in shares of Eastern by 82.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,273 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 577 shares in the last quarter. Focus Partners Wealth purchased a new position in shares of Eastern in the 3rd quarter valued at about $40,000. Tower Research Capital LLC TRC increased its holdings in shares of Eastern by 295.9% in the 2nd 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 in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Eastern in the 2nd quarter valued at about $70,000. Finally, Fifth Third Bancorp purchased a new position in shares of Eastern in the 1st quarter valued at about $73,000. Hedge funds and other institutional investors own 76.99% of the company’s stock.

About Eastern

Eastern (NASDAQ:EML), based in West Haven, Connecticut, is a diversified industrial manufacturer specializing in secure hardware and metal finishing services. The company operates through two primary segments: Industrial Hardware Products and Security Products, complemented by a Metal Coatings division. Its Industrial Hardware Products segment produces cold-headed fasteners, forgings, hinges and precision components for heavy commercial vehicles, hydraulic cylinders and industrial machinery.

The Security Products segment designs and manufactures a wide range of lock and latch solutions, including padlocks, door hardware, cabinet locks and rental security towers for commercial and institutional applications.