The Eastern Company (NASDAQ:EML) Director Purchases $18,717.48 in Stock

The Eastern Company (NASDAQ:EML - Get Free Report) Director Frederick D. Disanto purchased 654 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The stock was bought at an average price of $28.62 per share, with a total value of $18,717.48. Following the transaction, the director now directly owns 68,162 shares in the company, valued at $1,950,796.44. This trade represents a 0.97 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Eastern Stock Down 0.9 %

NASDAQ:EML traded down $0.27 during trading hours on Monday, hitting $28.72. 16,468 shares of the company's stock traded hands, compared to its average volume of 23,330. The stock's fifty day moving average price is $30.13 and its two-hundred day moving average price is $29.21. The firm has a market cap of $177.58 million, a P/E ratio of -28.15 and a beta of 0.98. 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 twelve month low of $20.50 and a twelve month high of $35.78.

Eastern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 15th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend was Friday, November 15th. Eastern's payout ratio is presently -42.72%.

Institutional Investors Weigh In On Eastern

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Segall Bryant & Hamill LLC purchased a new position in shares of Eastern during the 3rd quarter valued at $1,667,000. Victory Capital Management Inc. purchased a new position in Eastern in the second quarter valued at about $1,190,000. American Century Companies Inc. acquired a new position in Eastern in the 2nd quarter worth about $632,000. Rhumbline Advisers acquired a new position in Eastern in the 2nd quarter worth about $134,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Eastern by 2.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 386,281 shares of the industrial products company's stock worth $9,838,000 after purchasing an additional 8,835 shares in the last quarter. Hedge funds and other 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.