BlackRock Inc. raised its holdings in shares of Eastern Co (NASDAQ:EML) by 1.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 273,114 shares of the industrial products company’s stock after purchasing an additional 5,084 shares during the period. BlackRock Inc.’s holdings in Eastern were worth $7,652,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Northern Trust Corp grew its holdings in Eastern by 2.3% in the 2nd quarter. Northern Trust Corp now owns 72,647 shares of the industrial products company’s stock valued at $2,035,000 after buying an additional 1,646 shares in the last quarter. LSV Asset Management grew its holdings in Eastern by 43.2% in the 2nd quarter. LSV Asset Management now owns 16,596 shares of the industrial products company’s stock valued at $465,000 after buying an additional 5,009 shares in the last quarter. Gabelli Funds LLC grew its holdings in Eastern by 0.4% in the 2nd quarter. Gabelli Funds LLC now owns 255,903 shares of the industrial products company’s stock valued at $7,170,000 after buying an additional 1,000 shares in the last quarter. Gamco Investors INC. ET AL grew its holdings in shares of Eastern by 0.3% during the 2nd quarter. Gamco Investors INC. ET AL now owns 564,240 shares of the industrial products company’s stock worth $15,810,000 after purchasing an additional 1,450 shares in the last quarter. Finally, Strs Ohio grew its holdings in shares of Eastern by 7.4% during the 2nd quarter. Strs Ohio now owns 5,800 shares of the industrial products company’s stock worth $162,000 after purchasing an additional 400 shares in the last quarter. 65.61% of the stock is owned by institutional investors and hedge funds.
EML opened at $29.22 on Wednesday. The firm has a market cap of $175.36 million, a P/E ratio of 14.42 and a beta of 0.96. Eastern Co has a 52-week low of $20.70 and a 52-week high of $30.70. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.77 and a current ratio of 3.50. The business’s fifty day moving average is $25.54 and its 200-day moving average is $25.88.
In related news, Director Peggy Scott bought 2,041 shares of Eastern stock in a transaction dated Friday, September 6th. The shares were bought at an average cost of $25.24 per share, with a total value of $51,514.84. Following the acquisition, the director now owns 226 shares in the company, valued at approximately $5,704.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO August M. Vlak acquired 3,717 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were acquired at an average price of $24.50 per share, with a total value of $91,066.50. Following the completion of the transaction, the chief executive officer now owns 11,368 shares in the company, valued at $278,516. The disclosure for this purchase can be found here. Corporate insiders own 14.04% of the company’s stock.
Separately, ValuEngine lowered Eastern from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th.
The Eastern Company designs, manufactures, and sells industrial hardware, security products, and metal products in the United States and internationally. The company's Industrial Hardware segment offers passenger restraint and vehicular locks, latches, hinges, mirrors, mirror-cameras, light-weight sleeper boxes, and truck bodies for tractor-trailer trucks, specialty commercial vehicles, recreational vehicles, fire and rescue vehicles, school buses, military vehicles, and other vehicles.
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