The Eastern Company (NASDAQ:EML) Shares Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets grew its stake in shares of The Eastern Company (NASDAQ:EML) by 719.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,431 shares of the industrial products company’s stock after purchasing an additional 6,524 shares during the quarter. BNP Paribas Financial Markets’ holdings in Eastern were worth $241,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Acadian Asset Management LLC acquired a new position in Eastern during the 2nd quarter worth approximately $110,000. Rhumbline Advisers acquired a new position in shares of Eastern during the second quarter worth $134,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Eastern by 45.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,522 shares of the industrial products company’s stock valued at $439,000 after purchasing an additional 4,218 shares during the period. LSV Asset Management grew its holdings in Eastern by 38.6% during the 2nd quarter. LSV Asset Management now owns 20,150 shares of the industrial products company’s stock valued at $513,000 after purchasing an additional 5,610 shares in the last quarter. Finally, American Century Companies Inc. purchased a new stake in Eastern during the 2nd quarter worth $632,000. Hedge funds and other institutional investors own 76.99% of the company’s stock.

Eastern Stock Performance

NASDAQ:EML opened at $28.72 on Tuesday. The Eastern Company has a 1-year low of $20.50 and a 1-year high of $35.78. The stock has a market cap of $177.58 million, a P/E ratio of -27.88 and a beta of 0.98. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.64 and a quick ratio of 1.42. The firm has a 50-day moving average of $30.09 and a two-hundred day moving average of $29.22.

Eastern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 15th were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.44 annualized dividend and a yield of 1.53%. Eastern’s dividend payout ratio is presently -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.