4,393 Shares in The Eastern Company (NASDAQ:EML) Bought by Acadian Asset Management LLC

Acadian Asset Management LLC acquired a new stake in The Eastern Company (NASDAQ:EML) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,393 shares of the industrial products company’s stock, valued at approximately $110,000. Acadian Asset Management LLC owned 0.07% of Eastern as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in EML. Victory Capital Management Inc. purchased a new position in Eastern in the 4th quarter valued at $75,000. Rhumbline Advisers acquired a new stake in shares of Eastern in the 2nd quarter worth $134,000. Empowered Funds LLC boosted its holdings in shares of Eastern by 7.3% in the first quarter. Empowered Funds LLC now owns 15,356 shares of the industrial products company’s stock valued at $523,000 after acquiring an additional 1,050 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of 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 acquiring an additional 14,373 shares during the period. Finally, Ancora Advisors LLC raised its holdings in Eastern by 1.8% during the first quarter. Ancora Advisors LLC now owns 69,047 shares of the industrial products company’s stock worth $2,354,000 after purchasing an additional 1,250 shares in the last quarter. 76.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Eastern from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd.

Eastern Trading Up 0.3 %

NASDAQ:EML opened at $31.90 on Friday. The Eastern Company has a 1 year low of $16.10 and a 1 year high of $35.78. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.35 and a current ratio of 2.60. The stock has a fifty day moving average price of $29.46 and a two-hundred day moving average price of $29.01. The stock has a market capitalization of $198.86 million, a price-to-earnings ratio of 20.19 and a beta of 1.02.

Eastern (NASDAQ:EML) last announced its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $0.56 earnings per share (EPS) for the quarter. The business had revenue of $73.15 million during the quarter. Eastern had a net margin of 4.40% and a return on equity of 9.05%.

Eastern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 15th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.38%. Eastern’s payout ratio is 27.85%.

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.