Northern Trust Corp boosted its position in shares of Eastern Company (The) (NASDAQ:EML) by 229.1% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 72,839 shares of the industrial products company’s stock after acquiring an additional 50,708 shares during the quarter. Northern Trust Corp owned about 1.16% of Eastern worth $2,189,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Nationwide Fund Advisors increased its stake in Eastern by 85.7% during the 2nd quarter. Nationwide Fund Advisors now owns 35,831 shares of the industrial products company’s stock worth $1,077,000 after buying an additional 16,532 shares in the last quarter. Teachers Advisors LLC purchased a new stake in shares of Eastern in the second quarter valued at approximately $291,000. Bank of New York Mellon Corp grew its position 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. TIAA CREF Investment Management LLC purchased a new stake in shares of Eastern in the second quarter valued at approximately $440,000. Finally, Gamco Investors INC. ET AL grew its position in shares of Eastern by 3.4% in the second quarter. Gamco Investors INC. ET AL now owns 509,125 shares of the industrial products company’s stock valued at $15,299,000 after purchasing an additional 16,740 shares in the last quarter. 66.64% of the stock is owned by institutional investors.
Eastern Company (NASDAQ EML) traded up $1.00 during mid-day trading on Friday, hitting $27.95. The stock had a trading volume of 32,572 shares, compared to its average volume of 17,670. Eastern Company has a 1-year low of $18.85 and a 1-year high of $31.50. The stock has a market capitalization of $174.38, a price-to-earnings ratio of 18.57 and a beta of 0.31. 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 also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Tuesday, November 14th. Eastern’s dividend payout ratio is presently 35.48%.
In other Eastern news, Director Frederick D. Disanto bought 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were purchased at an average price of $26.41 per share, with a total value of $39,615.00. Following the completion of the acquisition, the director now directly owns 8,661 shares of the company’s stock, valued at approximately $228,737.01. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP John L. Sullivan III bought 1,400 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was acquired at an average cost of $25.77 per share, for a total transaction of $36,078.00. The disclosure for this purchase can be found here. Insiders purchased 4,700 shares of company stock worth $122,043 over the last quarter. 13.75% of the stock is currently owned by insiders.
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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.
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