The Eastern Company (NASDAQ:EML - Get Free Report) Director Frederick D. Disanto bought 407 shares of Eastern stock in a transaction on Wednesday, November 20th. The shares were purchased at an average price of $30.00 per share, for a total transaction of $12,210.00. Following the acquisition, the director now directly owns 65,890 shares in the company, valued at approximately $1,976,700. This trade represents a 0.62 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.
Eastern Stock Performance
Shares of EML stock opened at $28.21 on Thursday. The company has a market capitalization of $174.34 million, a price-to-earnings ratio of -27.39 and a beta of 1.02. 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 one year low of $18.00 and a one year high of $35.78. The company's 50-day moving average is $31.07 and its 200 day moving average is $29.17.
Eastern Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.44 annualized dividend and a dividend yield of 1.56%. Eastern's dividend payout ratio (DPR) is presently -42.72%.
Institutional Inflows and Outflows
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Hedge funds have recently made changes to their positions in the stock. Segall Bryant & Hamill LLC purchased a new stake in Eastern during the 3rd quarter valued at $1,667,000. Victory Capital Management Inc. purchased a new position in Eastern in the second quarter worth about $1,190,000. American Century Companies Inc. purchased a new stake in shares of Eastern during the 2nd quarter valued at about $632,000. Bank of New York Mellon Corp boosted its holdings in shares of Eastern by 37.9% in the second quarter. Bank of New York Mellon Corp now owns 52,259 shares of the industrial products company's stock worth $1,331,000 after buying an additional 14,373 shares during the last quarter. Finally, Empowered Funds LLC grew its position in shares of Eastern by 72.7% during the 3rd quarter. Empowered Funds LLC now owns 28,388 shares of the industrial products company's stock valued at $921,000 after acquiring an additional 11,952 shares during the period. 76.99% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Separately, StockNews.com raised Eastern from a "buy" rating to a "strong-buy" rating in a research report on Friday, August 2nd.
Read Our Latest Stock Report on Eastern
About Eastern
(
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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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