Insider Buying: Eastern Co (EML) COO Purchases 1,398 Shares of Stock

Eastern Co (NASDAQ:EML) COO Angelo Labbadia purchased 1,398 shares of Eastern stock in a transaction dated Thursday, November 9th. The stock was bought at an average cost of $28.30 per share, for a total transaction of $39,563.40. Following the completion of the purchase, the chief operating officer now directly owns 1,398 shares in the company, valued at approximately $39,563.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of Eastern Co (NASDAQ:EML) traded up $0.90 during mid-day trading on Friday, hitting $27.80. 10,498 shares of the company were exchanged, compared to its average volume of 10,867. The company has a quick ratio of 1.73, a current ratio of 3.16 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $168.43, a PE ratio of 22.42 and a beta of 0.32. Eastern Co has a 52-week low of $18.85 and a 52-week high of $31.50.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Wednesday, November 15th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Tuesday, November 14th. Eastern’s dividend payout ratio (DPR) is currently 35.48%.

Several hedge funds have recently made changes to their positions in EML. Strs Ohio acquired a new position in shares of Eastern in the second quarter valued at approximately $147,000. Schwab Charles Investment Management Inc. acquired a new position in shares of Eastern in the second quarter valued at approximately $277,000. Bank of New York Mellon Corp grew its holdings in shares of Eastern by 53.0% in the second quarter. Bank of New York Mellon Corp now owns 45,406 shares of the industrial products company’s stock valued at $1,364,000 after purchasing an additional 15,728 shares in the last quarter. Teachers Advisors LLC acquired a new position in shares of Eastern in the second quarter valued at approximately $291,000. Finally, TIAA CREF Investment Management LLC acquired a new position in shares of Eastern in the second quarter valued at approximately $440,000. Hedge funds and other institutional investors own 66.64% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Insider Buying: Eastern Co (EML) COO Purchases 1,398 Shares of Stock” was first reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this piece of content on another domain, it was stolen and republished in violation of international copyright & trademark legislation. The original version of this piece of content can be accessed at https://www.dispatchtribunal.com/2018/01/13/eastern-company-the-eml-coo-acquires-39563-40-in-stock.html.

About Eastern

The Eastern Company manufactures and sells industrial hardware, security products and metal products from over six United States operations and seven foreign subsidiaries. The Company maintains over 13 physical locations. It operates through three segments: Industrial Hardware, Security Products and Metal Products.

Receive News & Ratings for Eastern Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eastern and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply