Resources Management Corp CT ADV Sells 3,000 Shares of The Eastern Company (NASDAQ:EML)

Resources Management Corp CT ADV trimmed its position in shares of The Eastern Company (NASDAQ:EMLGet Rating) by 50.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,000 shares of the industrial products company’s stock after selling 3,000 shares during the period. Resources Management Corp CT ADV’s holdings in Eastern were worth $75,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Wittenberg Investment Management Inc. boosted its holdings in shares of Eastern by 6.7% in the 3rd quarter. Wittenberg Investment Management Inc. now owns 14,375 shares of the industrial products company’s stock worth $362,000 after buying an additional 903 shares during the last quarter. Cove Street Capital LLC bought a new stake in shares of Eastern during the third quarter valued at about $65,000. Morgan Stanley increased its position in shares of Eastern by 50.7% during the second quarter. Morgan Stanley now owns 5,884 shares of the industrial products company’s stock valued at $178,000 after buying an additional 1,980 shares during the period. Geode Capital Management LLC increased its position in shares of Eastern by 6.9% during the third quarter. Geode Capital Management LLC now owns 51,216 shares of the industrial products company’s stock valued at $1,288,000 after buying an additional 3,286 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Eastern by 0.4% in the third quarter. Dimensional Fund Advisors LP now owns 417,765 shares of the industrial products company’s stock worth $10,511,000 after purchasing an additional 1,721 shares during the last quarter. Institutional investors and hedge funds own 57.60% of the company’s stock.

Separately, StockNews.com assumed coverage on shares of Eastern in a research report on Monday, April 11th. They issued a “buy” rating on the stock.

EML traded up $0.14 during midday trading on Monday, hitting $23.43. The stock had a trading volume of 1 shares, compared to its average volume of 9,662. The company has a market cap of $146.25 million, a P/E ratio of 13.03 and a beta of 0.99. The business has a fifty day moving average of $23.95 and a 200 day moving average of $24.68. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.23 and a current ratio of 2.50. The Eastern Company has a 1 year low of $23.05 and a 1 year high of $33.96.

Eastern (NASDAQ:EMLGet Rating) last issued its earnings results on Thursday, March 17th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter. The business had revenue of $59.60 million during the quarter. Eastern had a return on equity of 13.80% and a net margin of 4.36%.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 15th. Stockholders of record on Tuesday, March 1st were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend was Monday, February 28th. Eastern’s dividend payout ratio (DPR) is presently 24.58%.

Eastern Profile (Get Rating)

The Eastern Company designs, manufactures, and sells engineered solutions to industrial markets in the United States and internationally. It offers turnkey returnable packaging solutions that are used in the assembly process of vehicles, aircraft, and durable goods, as well as in the production process 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; and supplies blow molds and change parts to the food, beverage, healthcare, and chemical industry.

Further Reading

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Institutional Ownership by Quarter for Eastern (NASDAQ:EML)

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