Eastern (NASDAQ:EML) Stock Price Crosses Below Two Hundred Day Moving Average – Should You Sell?

Eastern Company (The) (NASDAQ:EML)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $21.44 and traded as low as $18.00. Eastern shares last traded at $18.00, with a volume of 15,007 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have commented on EML shares. Wall Street Zen upgraded Eastern to a “hold” rating in a research note on Saturday, January 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Eastern in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Eastern presently has a consensus rating of “Hold”.

Eastern Trading Down 0.9%

The business has a fifty day moving average price of $19.14 and a 200 day moving average price of $21.44. The firm has a market capitalization of $109.26 million, a price-to-earnings ratio of 14.52 and a beta of 0.98. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.30 and a current ratio of 2.99.

Eastern (NASDAQ:EML) last posted its earnings results on Tuesday, November 4th. The industrial products company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.64). The business had revenue of $55.34 million for the quarter, compared to analyst estimates of $73.41 million. Eastern had a net margin of 2.96% and a return on equity of 7.18%.

Eastern Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 13th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $0.44 annualized dividend and a dividend yield of 2.4%. Eastern’s payout ratio is currently 35.48%.

Insider Transactions at Eastern

In related news, Director Frederick D. Disanto purchased 2,925 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The shares were purchased at an average price of $18.82 per share, with a total value of $55,048.50. Following the purchase, the director owned 96,851 shares of the company’s stock, valued at $1,822,735.82. This trade represents a 3.11% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James A. Mitarotonda bought 1,839 shares of the business’s stock in a transaction on Tuesday, December 16th. The stock was bought at an average price of $19.55 per share, with a total value of $35,952.45. Following the transaction, the director owned 42,794 shares in the company, valued at approximately $836,622.70. This represents a 4.49% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 17,619 shares of company stock valued at $343,224 over the last three months. Company insiders own 17.00% of the company’s stock.

Institutional Trading of Eastern

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its position in Eastern by 82.9% during the third quarter. BNP Paribas Financial Markets now owns 1,273 shares of the industrial products company’s stock worth $30,000 after buying an additional 577 shares in the last quarter. Focus Partners Wealth acquired a new position in Eastern during the 3rd quarter valued at about $40,000. Tower Research Capital LLC TRC boosted its holdings in 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 worth $40,000 after buying an additional 1,299 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Eastern during the second quarter worth $70,000. Finally, Strs Ohio acquired a new stake in Eastern during the 1st quarter worth approximately $127,000. Institutional investors and hedge funds own 76.99% of the company’s stock.

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.