Connor Clark & Lunn Investment Management Ltd. Boosts Stake in The Eastern Company (NASDAQ:EML)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of The Eastern Company (NASDAQ:EML) by 45.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,522 shares of the industrial products company’s stock after buying an additional 4,218 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Eastern were worth $439,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Acadian Asset Management LLC purchased a new stake in Eastern during the 2nd quarter valued at about $110,000. Rhumbline Advisers acquired a new stake in shares of Eastern during the second quarter worth about $134,000. LSV Asset Management lifted its holdings in shares of Eastern by 38.6% during the second quarter. LSV Asset Management now owns 20,150 shares of the industrial products company’s stock worth $513,000 after purchasing an additional 5,610 shares during the period. American Century Companies Inc. acquired a new position in Eastern in the 2nd quarter worth approximately $632,000. Finally, Empowered Funds LLC raised its position in Eastern by 72.7% during the 3rd quarter. Empowered Funds LLC now owns 28,388 shares of the industrial products company’s stock worth $921,000 after buying an additional 11,952 shares during the last quarter. 76.99% of the stock is owned by hedge funds and other institutional investors.

Eastern Price Performance

Shares of EML opened at $28.72 on Friday. The business’s 50-day moving average is $30.68 and its two-hundred day moving average is $29.14. The company has a market capitalization of $177.58 million, a P/E ratio of -27.88 and a beta of 1.02. The Eastern Company has a fifty-two week low of $18.00 and a fifty-two week high of $35.78. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.42 and a current ratio of 2.64.

Eastern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Friday, November 15th. Eastern’s dividend payout ratio (DPR) is -42.72%.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Eastern from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd.

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.