Insider Buying: The Eastern Company (NASDAQ:EML) Director Purchases 407 Shares of Stock

The Eastern Company (NASDAQ:EML) Director Frederick D. Disanto purchased 407 shares of the stock in a transaction dated Wednesday, November 20th. The shares were bought at an average price of $30.00 per share, for a total transaction of $12,210.00. Following the completion of the acquisition, the director now owns 65,890 shares in the company, valued at $1,976,700. This represents a 0.62 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Eastern Trading Up 1.2 %

EML opened at $28.54 on Friday. The Eastern Company has a 52-week low of $18.00 and a 52-week high of $35.78. The stock has a 50-day moving average of $31.02 and a 200-day moving average of $29.17. The company has a current ratio of 2.64, a quick ratio of 1.42 and a debt-to-equity ratio of 0.37.

Eastern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.54%. The ex-dividend date is Friday, November 15th. Eastern’s payout ratio is currently -42.72%.

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.

Institutional Trading of Eastern

Several hedge funds and other institutional investors have recently bought and sold shares of EML. Segall Bryant & Hamill LLC bought a new position in shares of Eastern during the 3rd quarter worth approximately $1,667,000. Victory Capital Management Inc. acquired a new stake in shares of Eastern during the 2nd quarter worth about $1,190,000. American Century Companies Inc. bought a new position in Eastern during the 2nd quarter valued at about $632,000. Bank of New York Mellon Corp grew its stake in Eastern by 37.9% during 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 increased its holdings in shares of Eastern by 72.7% during the third quarter. Empowered Funds LLC now owns 28,388 shares of the industrial products company’s stock worth $921,000 after buying an additional 11,952 shares in the last quarter. 76.99% of the stock is currently owned by institutional investors and hedge funds.

Eastern Company 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.