Empowered Funds LLC Increases Position in The Eastern Company (NASDAQ:EML)

Empowered Funds LLC grew its position in The Eastern Company (NASDAQ:EML) by 4.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,755 shares of the industrial products company’s stock after purchasing an additional 1,367 shares during the quarter. Empowered Funds LLC owned approximately 0.48% of Eastern worth $790,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of EML. Segall Bryant & Hamill LLC acquired a new stake in Eastern during the third quarter worth approximately $1,667,000. HighTower Advisors LLC acquired a new stake in Eastern during the 3rd quarter worth $231,000. BNP Paribas Financial Markets lifted its position in Eastern by 719.3% in the third quarter. BNP Paribas Financial Markets now owns 7,431 shares of the industrial products company’s stock valued at $241,000 after acquiring an additional 6,524 shares during the last quarter. De Lisle Partners LLP lifted its position in Eastern by 15.9% in the third quarter. De Lisle Partners LLP now owns 40,922 shares of the industrial products company’s stock valued at $1,320,000 after acquiring an additional 5,600 shares during the last quarter. Finally, State Street Corp boosted its stake in Eastern by 8.3% in the third quarter. State Street Corp now owns 68,301 shares of the industrial products company’s stock valued at $2,216,000 after acquiring an additional 5,225 shares in the last quarter. 76.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Eastern from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 8th.

Eastern Price Performance

Shares of NASDAQ EML opened at $28.06 on Tuesday. 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 market cap of $173.41 million, a P/E ratio of -27.24 and a beta of 0.98. The stock has a 50 day moving average of $27.46 and a two-hundred day moving average of $29.22. The Eastern Company has a twelve month low of $22.63 and a twelve month high of $35.78.

Eastern Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Friday, February 14th. Eastern’s dividend payout ratio is currently -42.72%.

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.