The Eastern Company (NASDAQ:EML) Declares $0.11 Quarterly Dividend

The Eastern Company (NASDAQ:EML) announced a quarterly dividend on Wednesday, July 31st, Zacks reports. Shareholders of record on Thursday, August 15th will be given a dividend of 0.11 per share by the industrial products company on Friday, September 13th. This represents a $0.44 annualized dividend and a yield of 1.52%. The ex-dividend date is Thursday, August 15th.

Eastern Stock Down 1.3 %

Shares of NASDAQ:EML traded down $0.37 during midday trading on Wednesday, reaching $28.90. 1,553 shares of the company were exchanged, compared to its average volume of 22,785. Eastern has a fifty-two week low of $16.10 and a fifty-two week high of $35.78. The company has a quick ratio of 1.35, a current ratio of 2.63 and a debt-to-equity ratio of 0.30. The stock has a fifty day simple moving average of $27.29 and a two-hundred day simple moving average of $27.91. The firm has a market cap of $180.16 million, a PE ratio of 18.53 and a beta of 1.04.

Analyst Upgrades and Downgrades

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

Insider Activity at Eastern

In related news, CEO Mark Anthony Hernandez purchased 2,341 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were acquired at an average price of $28.99 per share, for a total transaction of $67,865.59. Following the purchase, the chief executive officer now owns 35,249 shares in the company, valued at $1,021,868.51. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 17.00% of the stock is owned by company insiders.

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.