Eastern Company (The) to Issue Quarterly Dividend of $0.11 (NASDAQ:EML)

Eastern Company (The) (NASDAQ:EML) declared a quarterly dividend on Monday, July 20th. Stockholders of record on Friday, August 14th will be given a dividend of 0.11 per share by the industrial products company on Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, August 14th.

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

Eastern Trading Down 0.2%

NASDAQ EML opened at $25.48 on Tuesday. The firm has a market cap of $153.64 million, a PE ratio of 26.54 and a beta of 0.82. Eastern has a 1-year low of $17.61 and a 1-year high of $29.91. The stock has a 50-day moving average of $23.35 and a 200-day moving average of $21.05. The company has a current ratio of 3.52, a quick ratio of 1.64 and a debt-to-equity ratio of 0.29.

Eastern (NASDAQ:EML) last posted its quarterly earnings results on Tuesday, May 12th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.39). The company had revenue of $59.68 million for the quarter, compared to the consensus estimate of $67.74 million. Eastern had a return on equity of 5.46% and a net margin of 2.41%.

Eastern Company Profile

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.