51,365 Shares in The Eastern Company (NASDAQ:EML) Bought by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC purchased a new stake in The Eastern Company (NASDAQ:EML - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 51,365 shares of the industrial products company's stock, valued at approximately $1,667,000. Segall Bryant & Hamill LLC owned 0.82% of Eastern at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Acadian Asset Management LLC bought a new stake in Eastern during the second quarter worth approximately $110,000. Rhumbline Advisers acquired a new position in shares of Eastern in the 2nd quarter worth $134,000. LSV Asset Management raised its position in shares of Eastern by 38.6% during the second quarter. LSV Asset Management now owns 20,150 shares of the industrial products company's stock worth $513,000 after purchasing an additional 5,610 shares during the period. American Century Companies Inc. purchased a new stake in shares of Eastern during the second quarter valued at $632,000. Finally, Empowered Funds LLC boosted its position in shares of Eastern by 72.7% in the 3rd quarter. Empowered Funds LLC now owns 28,388 shares of the industrial products company's stock valued at $921,000 after purchasing an additional 11,952 shares during the period. Institutional investors own 76.99% of the company's stock.

Eastern Stock Performance

EML stock traded up $0.35 during midday trading on Friday, hitting $28.54. 11,023 shares of the company traded hands, compared to its average volume of 17,273. The Eastern Company has a twelve month low of $18.00 and a twelve month high of $35.78. The stock has a market capitalization of $176.38 million, a price-to-earnings ratio of -27.71 and a beta of 1.02. The company has a quick ratio of 1.42, a current ratio of 2.64 and a debt-to-equity ratio of 0.37. The business has a 50 day simple moving average of $30.96 and a 200-day simple moving average of $29.15.

Eastern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Friday, November 15th. Eastern's dividend payout ratio (DPR) is currently -42.72%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Eastern from a "buy" rating to a "strong-buy" rating in a research report on Friday, August 2nd.

Eastern Profile

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.