Eastern (NASDAQ:EML) Stock Price Crosses Below 200 Day Moving Average – Time to Sell?

by · The Cerbat Gem

Eastern Company (The) (NASDAQ:EML – Get Free Report) shares passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $22.24 and traded as low as $19.10. Eastern shares last traded at $19.1950, with a volume of 66,462 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Eastern in a research note on Monday. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Get Our Latest Analysis on Eastern

Eastern Trading Up 1.2%

The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.30 and a current ratio of 2.99. The stock has a market cap of $116.51 million, a price-to-earnings ratio of 15.48 and a beta of 1.00. The company’s 50 day simple moving average is $20.01 and its two-hundred day simple moving average is $22.24.

Eastern (NASDAQ:EML – Get Free Report) last posted its quarterly earnings results on Tuesday, November 4th. The industrial products company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.64). Eastern had a net margin of 2.96% and a return on equity of 7.18%. The company had revenue of $55.34 million for the quarter, compared to analysts’ expectations of $73.41 million.

Eastern Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 13th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.3%. Eastern’s dividend payout ratio (DPR) is 35.48%.

Insider Activity

In other Eastern news, Director John Everets purchased 1,435 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were acquired at an average price of $19.55 per share, for a total transaction of $28,054.25. Following the acquisition, the director owned 139,855 shares of the company’s stock, valued at $2,734,165.25. This trade represents a 1.04% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James A. Mitarotonda acquired 1,839 shares of Eastern stock in a transaction that occurred on Tuesday, December 16th. The stock was acquired at an average cost of $19.55 per share, with a total value of $35,952.45. Following the purchase, the director owned 42,794 shares in the company, valued at $836,622.70. The trade was a 4.49% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 17,619 shares of company stock worth $343,224 in the last three months. 17.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Eastern

Hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its position in shares of Eastern by 82.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,273 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 577 shares during the period. Gabelli Funds LLC lifted its position in Eastern by 0.4% in the third quarter. Gabelli Funds LLC now owns 165,000 shares of the industrial products company’s stock worth $3,871,000 after purchasing an additional 600 shares during the period. First Trust Advisors LP lifted its position in Eastern by 3.5% in the second quarter. First Trust Advisors LP now owns 18,455 shares of the industrial products company’s stock worth $421,000 after purchasing an additional 617 shares during the period. Russell Investments Group Ltd. boosted its stake in Eastern by 0.3% during the third quarter. Russell Investments Group Ltd. now owns 257,126 shares of the industrial products company’s stock worth $6,032,000 after buying an additional 775 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its holdings in Eastern by 1.6% in the 3rd quarter. Bridgeway Capital Management LLC now owns 67,001 shares of the industrial products company’s stock valued at $1,572,000 after buying an additional 1,025 shares during the period. 76.99% of the stock is currently owned by institutional investors.

Eastern Company Profile

(Get Free Report)

Eastern (NASDAQ:EML), based in West Haven, Connecticut, is a diversified industrial manufacturer specializing in secure hardware and metal finishing services. The company operates through two primary segments: Industrial Hardware Products and Security Products, complemented by a Metal Coatings division. Its Industrial Hardware Products segment produces cold-headed fasteners, forgings, hinges and precision components for heavy commercial vehicles, hydraulic cylinders and industrial machinery.

The Security Products segment designs and manufactures a wide range of lock and latch solutions, including padlocks, door hardware, cabinet locks and rental security towers for commercial and institutional applications.

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