The Eastern Company (NASDAQ:EML) Director Frederick D. Disanto Purchases 407 Shares

The Eastern Company (NASDAQ:EML) Director Frederick D. Disanto purchased 407 shares of Eastern stock in a transaction that occurred on Wednesday, November 20th. The shares were bought at an average price of $30.00 per share, with a total value of $12,210.00. Following the transaction, the director now owns 65,890 shares of the company’s stock, valued at $1,976,700. This trade represents a 0.62 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Eastern Price Performance

Shares of NASDAQ:EML opened at $28.21 on Thursday. The company has a current ratio of 2.64, a quick ratio of 1.42 and a debt-to-equity ratio of 0.37. The Eastern Company has a 12 month low of $18.00 and a 12 month high of $35.78. The stock has a market cap of $174.34 million, a P/E ratio of -27.39 and a beta of 1.02. The company has a 50 day moving average of $31.07 and a 200 day moving average of $29.17.

Eastern Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Friday, November 15th. Eastern’s dividend payout ratio is currently -42.72%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Eastern from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd.

Institutional Trading of Eastern

A number of hedge funds have recently bought and sold shares of EML. Victory Capital Management Inc. purchased a new position in shares of Eastern in the second quarter worth about $1,190,000. Ancora Advisors LLC grew its holdings in shares of Eastern by 1.8% in the first quarter. Ancora Advisors LLC now owns 69,047 shares of the industrial products company’s stock worth $2,354,000 after purchasing an additional 1,250 shares during the last quarter. American Century Companies Inc. bought a new stake in Eastern during the 2nd quarter valued at $632,000. Rhumbline Advisers purchased a new stake in Eastern during the 2nd quarter valued at $134,000. Finally, Bank of New York Mellon Corp increased its position 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 valued at $1,331,000 after acquiring an additional 14,373 shares during the period. Institutional investors own 76.99% of the company’s stock.

About Eastern

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.