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

The Eastern Company (NASDAQ:EML) announced a quarterly dividend on Tuesday, February 4th,Wall Street Journal reports. Shareholders of record on Friday, February 14th will be given a dividend of 0.11 per share by the industrial products company on Friday, March 14th. This represents a $0.44 annualized dividend and a yield of 1.64%. The ex-dividend date is Friday, February 14th.

Eastern Stock Performance

Shares of NASDAQ EML traded up $0.24 during trading on Tuesday, reaching $26.83. 9,067 shares of the company traded hands, compared to its average volume of 9,835. The stock has a market cap of $165.81 million, a P/E ratio of -26.05 and a beta of 0.98. The firm’s fifty day simple moving average is $27.82 and its 200 day simple moving average is $29.34. The company has a current ratio of 2.64, a quick ratio of 1.42 and a debt-to-equity ratio of 0.37. Eastern has a 12-month low of $22.63 and a 12-month high of $35.78.

Eastern (NASDAQ:EML) last announced its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.75 earnings per share for the quarter. Eastern had a positive return on equity of 10.44% and a negative net margin of 2.26%. The company had revenue of $71.27 million during the quarter.

Analyst Ratings Changes

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

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.