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Galbato Chan reported open-market purchase transactions in this Form 4 filing.
Eastern Co director Chan Galbato received 940 common shares under the company’s Director’s Fee Program at a reference price of $21.40 per share. This compensation-related issuance increased Galbato’s direct holdings to 4,167 Eastern Co common shares, according to the Form 4 filing.
MITAROTONDA JAMES A reported open-market purchase transactions in this Form 4 filing.
Eastern Co director James A. Mitarotonda received 1,679 common shares under The Eastern Company Director's Fee Program, with the share count based on a $21.40 price on June 15, 2026. This brings his direct holdings to 46,190 common shares.
In addition, 650,000 common shares are held indirectly through Barington Companies Equity Partners, L.P. The filing explains a multi-entity structure linking this partnership to Mitarotonda and states that he disclaims beneficial ownership of these securities except to the extent of his pecuniary interest.
Scott Peggy reported open-market purchase transactions in this Form 4 filing.
Eastern Co. director Peggy Scott acquired 1,176 common shares, which were issued under The Eastern Company Director's Fee Program pursuant to Rule 16b-3(d). The price used to determine the number of shares was $21.40 per share, based on the share price on June 15, 2026. Following this issuance, Scott directly holds 26,262 common shares.
Eastern Co. director Frederick D. DiSanto increased his stake through open-market buying. On June 11 and June 12, he purchased 1,000 shares of Eastern Co. common stock on each date at $21.25 and $20.96 per share. Following these transactions, his directly held position rose to 103,356 shares. The filing also lists 11,970 shares and 43,797 shares held indirectly through Ancora Catalyst and Ancora Merlin, entities affiliated with him. He may be deemed to beneficially own those shares for Section 16 purposes but expressly disclaims beneficial ownership except to the extent of his pecuniary interest.
Eastern Co. insider entities linked to director and 10% owner James A. Mitarotonda reported open-market purchases of the company’s common shares. Barington Companies Equity Partners L.P. bought 3,736 shares at $21.7266 per share and 1,922 shares at $21.5769 per share, for a net purchase of 5,658 shares. Following these transactions, one reporting person holds 44,511 common shares directly, while Barington Companies Equity Partners L.P. is shown with indirect holdings of 650,000 and then 646,264 common shares. The reporting persons disclaim beneficial ownership of these securities except to the extent of their pecuniary interest.
Eastern Co. director Frederick D. DiSanto reported an open-market purchase of 288 shares of common stock at $21.50 per share. After this buy, he directly holds 101,356 shares. The filing also shows indirect holdings of 11,970 shares by Ancora Catalyst and 43,797 shares by Ancora Merlin, where Mr. DiSanto may be deemed a beneficial owner for Section 16 purposes but expressly disclaims beneficial ownership beyond his pecuniary interest.
Eastern Co. director Frederick D. DiSanto reported buying 213 shares of common stock at $21.5000 per share. This open-market purchase on June 4, 2026 increased his direct holdings to 101,068 shares. The filing also lists 11,970 shares held by Ancora Catalyst and 43,797 shares held by Ancora Merlin, entities with which he is associated, although he expressly disclaims beneficial ownership of those indirect holdings beyond his pecuniary interest.
The Eastern Company is acquiring Sungear and Crown Precision, two California-based aerospace and defense component manufacturers, for $7.85 million in aggregate cash-free, debt-free consideration. The deal establishes a fourth operating platform focused on precision manufacturing alongside Eastern’s existing Eberhard Manufacturing, Velvac, and Big 3 Precision businesses.
The acquisition is fully funded through borrowings under Eastern’s existing revolving credit facility, with substantial remaining liquidity for further development. On a combined basis, Sungear and Crown generated about $22.8 million of revenue in the trailing twelve months ended April 1, 2026. Both companies will retain their current management teams, while Eastern plans to provide financial discipline, strategic guidance, and capital to support capacity, automation, and product development.
The Eastern Company reported weaker first-quarter 2026 results, with lower sales and margins but stronger cash flow. Net sales fell to $59.7 million from $63.3 million, mainly due to reduced demand for returnable transport packaging, partly offset by higher truck mirror assembly sales and price increases.
Gross margin declined to 20.0% from 22.4%, pressured by lower volume, pricing pressure and labor inefficiencies, as well as about $3.1 million of China-related tariffs, of which $2.9 million was mitigated through pricing. Net income from continuing operations dropped to $0.6 million, or $0.11 per diluted share, from $1.9 million, or $0.31, and Adjusted EBITDA from continuing operations declined to $3.0 million from $4.6 million.
Despite softer earnings, operating cash flow improved to $3.5 million from a $1.8 million use a year earlier, helped by inventory reductions. The company ended the quarter with $7.6 million in cash, a current ratio of 3.5, total debt to shareholders’ equity of 26.4%, and $67 million of availability under its $100 million revolving credit facility. Management is pursuing potential tariff refunds but has not recorded any related benefit.
The Eastern Company reported first-quarter 2026 net sales of $59.7 million, down 5.7% from a year earlier, as softer demand for returnable transport packaging offset higher truck mirror sales. Gross margin fell to 20.0% from 22.4% on lower volume, pricing pressure, and labor inefficiencies.
Net income from continuing operations declined to $0.6 million, or $0.11 per diluted share, compared with $1.9 million, or $0.31 per share, in 2025. Adjusted EBITDA from continuing operations was $3.0 million versus $4.6 million, a decrease of about 35%, with management citing unfavorably priced racks contracts that are expected to be largely resolved by the end of the second quarter.
Backlog was $82.2 million as of April 4, 2026, up from $81.1 million at the start of the year, reflecting stronger order conversion. The company reduced total debt by $1.0 million, repurchased 21,120 shares, and generated $3.5 million of operating cash flow, supporting its focus on deleveraging and selective capital returns.