46,721 Shares in The Eastern Company (NASDAQ:EML) Bought by Victory Capital Management Inc.

Victory Capital Management Inc. purchased a new position in The Eastern Company (NASDAQ:EML) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 46,721 shares of the industrial products company’s stock, valued at approximately $1,190,000. Victory Capital Management Inc. owned 0.75% of Eastern at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EML. Rhumbline Advisers acquired a new stake in Eastern in the second quarter valued at approximately $134,000. Bank of New York Mellon Corp grew its position in Eastern by 37.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 52,259 shares of the industrial products company’s stock valued at $1,331,000 after purchasing an additional 14,373 shares during the period. Ancora Advisors LLC increased its stake in Eastern by 1.8% during the 1st quarter. Ancora Advisors LLC now owns 69,047 shares of the industrial products company’s stock valued at $2,354,000 after purchasing an additional 1,250 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in Eastern by 7.3% during the first quarter. Empowered Funds LLC now owns 15,356 shares of the industrial products company’s stock worth $523,000 after buying an additional 1,050 shares during the last quarter. 76.99% of the stock is owned by institutional investors.

Eastern Stock Up 2.5 %

EML stock opened at $31.79 on Friday. The firm has a market capitalization of $198.18 million, a PE ratio of 20.12 and a beta of 1.02. The company has a quick ratio of 1.35, a current ratio of 2.60 and a debt-to-equity ratio of 0.29. The Eastern Company has a twelve month low of $16.10 and a twelve month high of $35.78. The stock’s 50 day moving average is $29.40 and its 200-day moving average is $28.93.

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

Eastern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 15th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend was Thursday, August 15th. Eastern’s dividend payout ratio (DPR) is presently 27.85%.

Analyst Ratings Changes

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

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.