Empowered Funds LLC Purchases 11,952 Shares of The Eastern Company (NASDAQ:EML)

Empowered Funds LLC raised its position in The Eastern Company (NASDAQ:EML) by 72.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,388 shares of the industrial products company’s stock after buying an additional 11,952 shares during the quarter. Empowered Funds LLC’s holdings in Eastern were worth $921,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in Eastern by 2.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 386,281 shares of the industrial products company’s stock valued at $9,838,000 after buying an additional 8,835 shares during the period. Ancora Advisors LLC increased its holdings in Eastern by 1.8% in the 1st quarter. Ancora Advisors LLC now owns 69,047 shares of the industrial products company’s stock valued at $2,354,000 after buying an additional 1,250 shares during the period. Bank of New York Mellon Corp increased its holdings 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 buying an additional 14,373 shares during the period. Victory Capital Management Inc. bought a new position in Eastern in the 2nd quarter valued at about $1,190,000. Finally, American Century Companies Inc. bought a new position in Eastern in the 2nd quarter valued at about $632,000. 76.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Eastern Trading Up 1.2 %

Shares of Eastern stock opened at $28.54 on Friday. The firm has a market capitalization of $176.38 million, a PE ratio of -27.37 and a beta of 1.02. The company has a current ratio of 2.64, a quick ratio of 1.42 and a debt-to-equity ratio of 0.37. The firm’s 50 day moving average is $31.02 and its 200 day moving average is $29.17. The Eastern Company has a 1 year low of $18.00 and a 1 year high of $35.78.

Eastern Dividend Announcement

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

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.