Eastern (EML) Declares $0.11 Dividend
Eastern said on February 7, 2023 that its board of directors declared a regular quarterly dividend of $0.11 per share ($0.44 annualized). Shareholders of record as of February 14, 2023 will receive the payment on March 15, 2023. Previously, the company paid $0.11 per share.
At the current share price of $22.35 / share, the stock's dividend yield is 1.97%. Looking back five years and taking a sample every week, the average dividend yield has been 1.81%, the lowest has been 1.33%, and the highest has been 2.62%. The standard deviation of yields is 0.30 (n=236).
The current dividend yield is 0.55 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.20. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
Fund Sentiment
There are 93 funds or institutions reporting positions in Eastern. This is a decrease of 1 owner(s) or 1.06%.
Average portfolio weight of all funds dedicated to US:EML is 0.4742%, an increase of 9.6592%. Total shares owned by institutions increased in the last three months by 1.65% to 5,381K shares.
What are large shareholders doing?
Barington Capital Group holds 627,768 shares representing 10.10% ownership of the company. No change in the last quarter.
Gamco Investors, Inc. Et Al holds 547,264 shares representing 8.81% ownership of the company. In it's prior filing, the firm reported owning 547,164 shares, representing an increase of 0.02%. The firm decreased its portfolio allocation in EML by 8.37% over the last quarter.
Forager Capital Management holds 443,327 shares representing 7.13% ownership of the company. In it's prior filing, the firm reported owning 373,868 shares, representing an increase of 15.67%. The firm increased its portfolio allocation in EML by 29.36% over the last quarter.
Minerva Advisors holds 408,266 shares representing 6.57% ownership of the company. In it's prior filing, the firm reported owning 369,117 shares, representing an increase of 9.59%. The firm increased its portfolio allocation in EML by 1.97% over the last quarter.
WMMAX - Teton Westwood Mighty Mites Fund holds 298,000 shares representing 4.79% ownership of the company. No change in the last quarter.
Eastern Background Information
(This description is provided by the company.)
The Eastern Company manages industrial businesses that design, manufacture and sell unique engineered solutions to industrial markets, focusing on industries that offer long-term macroeconomic growth opportunities. The Company operates across three reporting segments -- Industrial Hardware, Security Products and Metal Products -- from locations in the U.S., Canada, Mexico, U.K., Taiwan and China.
This story originally appeared on Fintel.