The New Mario Gabelli’s Gamco Investors, Inc Et Al Holding in Eastern Co
Gamco Investors, Inc Et Al filed with the SEC SC 13D/A form for Eastern Co. The form can be accessed here: 000080724916000475. As reported in Mario Gabelli’s Gamco Investors, Inc Et Al’s form, the filler as of late owns 7.2% or 450,187 shares of the Industrials–company.
Eastern Co stake is a new one for the for the hedge fund and it was filed because of activity on November 9, 2016. We feel this shows Mario Gabelli’s Gamco Investors, Inc Et Al’s positive view for the stock.
The hedge fund is active investor in the Finance sector. In the manager’s last 13-F, we saw 25% of Mario Gabelli’s Gamco Investors, Inc Et Al’s US equities portfolio is in this sector.
Eastern Co Institutional Sentiment
Latest Security and Exchange filings show 32 investors own Eastern Co. The institutional ownership in Q3 2015 is low, at 110.50% of the outstanding shares. This is increased by 4680648 the total institutional shares. 6906082 were the shares owned by these institutional investors. In total 3 funds opened new Eastern Co stakes, 13 increased stakes. There were 5 that closed positions and 6 reduced them.
Mario Gabelli Gamco Investors Inc Et Al is an institutional investor bullish on Eastern Co, owning 360683 shares as of Q3 2015 for 0.04% of its portfolio. Teton Advisors Inc owns 322122 shares or 0.39% of its portfolio. CT Retirement Design & Management Inc have 0.20% of their stock portfolio for 11796 shares. Further, North Star Investment Management Corp reported stake worth 0.38% of its US stock portfolio. The PA Minerva Advisors Llc owns 367274 shares. Eastern Co is 4.17% of the manager’s US portfolio.
The Eastern Company manufactures and sells industrial hardware, security products and metal products from over six United States operations and seven foreign subsidiaries. The Company maintains over 13 physical locations. It operates through three segments: Industrial Hardware, Security Products and Metal Products. The Industrial Hardware segment consists of Eberhard Manufacturing, Eberhard Hardware Manufacturing Ltd., Canadian Commercial Vehicles Corporation, Composite Panel Technologies, Eastern Industrial Ltd. and Sesamee Mexicana, S.A. de C.V. The Security Products segment, made up of Greenwald Industries, Argo Transdata, Illinois Lock Company/CCL Security Products, World Lock Company Ltd., Dongguan Reeworld Security Products Ltd. and World Security Industries Ltd., is a manufacturer of security products. The Metal Products segment, based at the Company’s Frazer & Jones facility, is a producer of expansion shells for use in supporting the roofs of underground mines.
SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.
Insitutional Activity: The institutional sentiment decreased to 1.33 in 2016 Q2. Its down 0.23, from 1.56 in 2016Q1. The ratio dropped, as 4 funds sold all Eastern Co shares owned while 5 reduced positions. 2 funds bought stakes while 10 increased positions. They now own 2.86 million shares or 5.77% more from 2.70 million shares in 2016Q1.
Retail Bank Of New York Mellon Corp has 24,770 shares for 0% of their US portfolio. Minerva Limited Liability Company owns 367,641 shares or 4.14% of their US portfolio. Moreover, Manufacturers Life Insurance The has 0% invested in Eastern Co (NASDAQ:EML) for 64 shares. Savings Bank Of America Corporation De accumulated 139,381 shares or 0% of the stock. Blackrock Institutional Na holds 0% of its portfolio in Eastern Co (NASDAQ:EML) for 3,746 shares. Vanguard reported 207,655 shares or 0% of all its holdings. Dimensional Fund Advisors L P holds 333,876 shares or 0% of its portfolio. Retirement Design Mgmt Adv owns 11,796 shares or 0.12% of their US portfolio. Nationwide Fund reported 27,199 shares or 0% of all its holdings. Timber Hill Limited Liability Corp holds 0% or 11,556 shares in its portfolio. Deutsche National Bank Ag holds 0% of its portfolio in Eastern Co (NASDAQ:EML) for 16,913 shares. Blackrock Invest Management Ltd Liability Corp has 0% invested in the company for 894 shares. Blackrock Fund Advsr accumulated 16,889 shares or 0% of the stock. Teton Advisors Incorporated owns 331,022 shares or 0.5% of their US portfolio. Morgan Stanley accumulated 6,650 shares or 0% of the stock.
Insider Transactions: Since June 28, 2016, the stock had 1 insider purchase, and 0 insider sales for $164,451 net activity. The insider MITAROTONDA JAMES A bought 10,000 shares worth $164,451.
About 2,759 shares traded hands. Eastern Co (NASDAQ:EML) has risen 23.38% since April 8, 2016 and is uptrending. It has outperformed by 17.73% the S&P500.
The Eastern Company manufactures and sells industrial hardware, security products and metal products from over six United States activities and seven foreign subsidiaries. The company has a market cap of $128.22 million. The Firm maintains over 13 physical locations. It has a 17.83 P/E ratio. It operates through three divisions: Industrial Hardware, Security Products and Metal Products.
More news for Eastern Co (NASDAQ:EML) were recently published by: Reuters.com, which released: “BRIEF-Eastern Co Q3 earnings per share $0.38” on November 03, 2016. Streetinsider.com‘s article titled: “The Eastern Co (EML) Declares $0.11 Quarterly Dividend; 2.3% Yield” and published on November 03, 2016 is yet another important article.
According to Zacks Investment Research, “EASTERN CO. is engaged in the manufacturing and/or purchasing and sale of a diversified line of products from four operations and four wholly-owned subsidiaries. Its operations consist of a single business segment – security products. Security products are used to close, lock or secure equipment used in the industrial, transportation, and mining industries.”
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