EA Series Trust Takes $221,000 Position in The Eastern Company (NASDAQ:EML)

Posted by Defense World Staff on Oct 24th, 2023

EA Series Trust purchased a new position in shares of The Eastern Company (NASDAQ:EML – Free Report) in the second quarter, HoldingsChannel.com reports. The fund purchased 12,206 shares of the industrial products company’s stock, valued at approximately $221,000.

Several other large investors have also bought and sold shares of EML. Forager Capital Management LLC grew its position in shares of Eastern by 12.7% during the 1st quarter. Forager Capital Management LLC now owns 523,082 shares of the industrial products company’s stock worth $10,200,000 after buying an additional 58,941 shares during the period. Wittenberg Investment Management Inc. increased its stake in Eastern by 35.1% in the first quarter. Wittenberg Investment Management Inc. now owns 21,960 shares of the industrial products company’s stock valued at $428,000 after purchasing an additional 5,700 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Eastern by 24.6% in the second quarter. Wells Fargo & Company MN now owns 118,122 shares of the industrial products company’s stock worth $2,403,000 after purchasing an additional 23,344 shares during the period. Ancora Advisors LLC boosted its position in shares of Eastern by 5.8% during the first quarter. Ancora Advisors LLC now owns 63,797 shares of the industrial products company’s stock worth $1,710,000 after purchasing an additional 3,500 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Eastern by 1.3% in the 1st quarter. Geode Capital Management LLC now owns 53,996 shares of the industrial products company’s stock valued at $1,052,000 after buying an additional 676 shares during the period. 69.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Eastern in a report on Thursday, October 5th. They set a “buy” rating on the stock.

Check Out Our Latest Stock Report on EML

Insider Buying and Selling at Eastern

In other news, CEO Mark Anthony Hernandez acquired 1,773 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The stock was acquired at an average cost of $18.66 per share, for a total transaction of $33,084.18. Following the completion of the acquisition, the chief executive officer now owns 12,035 shares in the company, valued at $224,573.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have bought 6,113 shares of company stock valued at $112,281 in the last 90 days. 16.31% of the stock is currently owned by company insiders.

Eastern Trading Up 1.4 %

NASDAQ:EML opened at $16.75 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.89 and a quick ratio of 1.49. The business’s 50-day simple moving average is $17.99 and its 200-day simple moving average is $17.86. The Eastern Company has a fifty-two week low of $15.30 and a fifty-two week high of $24.35. The stock has a market capitalization of $104.52 million, a PE ratio of 14.82 and a beta of 1.04.

Eastern (NASDAQ:EML – Get Free Report) last announced its quarterly earnings results on Tuesday, August 8th. The industrial products company reported $0.40 earnings per share for the quarter. Eastern had a net margin of 2.51% and a return on equity of 7.50%. The firm had revenue of $68.34 million for the quarter.

Eastern Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend was Monday, August 14th. Eastern’s dividend payout ratio (DPR) is presently 38.94%.

Eastern Profile

(Free Report)

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.