Strs Ohio reduced its position in The Eastern Company (NASDAQ:EML) by 13.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 5,000 shares of the industrial products company’s stock after selling 800 shares during the period. Strs Ohio owned 0.08% of The Eastern worth $97,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA increased its stake in shares of The Eastern by 139.1% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 1,265 shares of the industrial products company’s stock valued at $25,000 after buying an additional 736 shares during the period. Bank of America Corp DE grew its stake in shares of The Eastern by 11.2% during the second quarter. Bank of America Corp DE now owns 12,373 shares of the industrial products company’s stock worth $221,000 after purchasing an additional 1,249 shares during the period. BlackRock Inc. grew its stake in shares of The Eastern by 0.9% during the third quarter. BlackRock Inc. now owns 270,105 shares of the industrial products company’s stock worth $5,273,000 after purchasing an additional 2,286 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of The Eastern during the third quarter worth $49,000. Finally, Gamco Investors INC. ET AL grew its stake in shares of The Eastern by 1.9% during the third quarter. Gamco Investors INC. ET AL now owns 548,073 shares of the industrial products company’s stock worth $10,698,000 after purchasing an additional 10,287 shares during the period. 63.94% of the stock is owned by institutional investors.
Separately, TheStreet cut The Eastern from a “b-” rating to a “c+” rating in a research note on Wednesday, December 2nd.
EML stock opened at $24.10 on Friday. The business’s 50-day moving average price is $23.23 and its two-hundred day moving average price is $20.56. The company has a current ratio of 3.23, a quick ratio of 1.75 and a debt-to-equity ratio of 0.84. The firm has a market cap of $150.46 million, a PE ratio of 16.85 and a beta of 1.08. The Eastern Company has a 1-year low of $15.28 and a 1-year high of $31.97.
The Eastern (NASDAQ:EML) last posted its earnings results on Monday, November 9th. The industrial products company reported $0.54 earnings per share for the quarter. The firm had revenue of $65.81 million for the quarter. The Eastern had a return on equity of 12.08% and a net margin of 3.60%.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 15th. Shareholders of record on Wednesday, November 18th were issued a dividend of $0.11 per share. The ex-dividend date was Tuesday, November 17th. This represents a $0.44 annualized dividend and a yield of 1.83%.
The Eastern Profile
The Eastern Company designs, manufactures, and sells various engineered solutions for various industrial markets in the United States and internationally. The company operates through three segments: Industrial Hardware, Security Products, and Metal Products. The Industrial Hardware segment designs, manufactures, and markets custom and standard vehicular and industrial hardware, including turnkey returnable packaging solutions; passenger restraint and vehicular locks, latches, and hinges; mirrors and mirror-cameras; light-weight sleeper boxes; and truck bodies.
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