Geode Capital Management LLC Grows Stock Holdings in The Eastern Company (NASDAQ:EML)

Geode Capital Management LLC boosted its holdings in The Eastern Company (NASDAQ:EML) by 0.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 127,108 shares of the industrial products company’s stock after buying an additional 449 shares during the period. Geode Capital Management LLC owned 2.06% of Eastern worth $4,126,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. MetLife Investment Management LLC raised its stake in Eastern by 129.1% during the third quarter. MetLife Investment Management LLC now owns 3,086 shares of the industrial products company’s stock valued at $100,000 after purchasing an additional 1,739 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Eastern during the 2nd quarter valued at approximately $110,000. Rhumbline Advisers purchased a new stake in Eastern during the 2nd quarter valued at $134,000. Barclays PLC raised its holdings in Eastern by 277.7% during the 3rd quarter. Barclays PLC now owns 6,875 shares of the industrial products company’s stock valued at $223,000 after buying an additional 5,055 shares during the period. Finally, HighTower Advisors LLC purchased a new position in Eastern during the third quarter worth $231,000. 76.99% of the stock is owned by hedge funds and other institutional investors.

Eastern Stock Up 0.6 %

NASDAQ:EML opened at $26.79 on Monday. The company has a market cap of $165.64 million, a price-to-earnings ratio of -26.01 and a beta of 0.99. The Eastern Company has a twelve month low of $21.52 and a twelve month high of $35.78. The company has a current ratio of 2.64, a quick ratio of 1.42 and a debt-to-equity ratio of 0.37. The stock has a fifty day simple moving average of $28.66 and a 200-day simple moving average of $29.23.

Eastern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 15th were issued a $0.11 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.64%. Eastern’s payout ratio is -42.72%.

Analyst Ratings Changes

Separately, StockNews.com cut Eastern from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th.

About Eastern

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.