Gold bars to be exempt from tariffs, White House clarifies
Shelton, Connecticut-based Eastern Co (NASDAQ:EML), a $129 million market cap manufacturer of cutlery, handtools, and general hardware, announced the results of its annual shareholder meeting held on April 30, 2025. According to InvestingPro analysis, the company trades at an attractive P/E ratio of 9.8 and shows strong liquidity metrics. The company confirmed the election of all seven director nominees for a one-year term expiring in 2026.
Fredrick D. DiSanto received 4,723,277 votes for, 164,589 against, and 22,918 abstentions. John W. Everets secured 4,271,898 votes for, 584,414 against, and 54,472 abstentions. Charles W. Henry was elected with 3,967,443 votes for, 940,374 against, and 2,967 abstentions. James A. Mitarotonda received 4,748,778 votes for, 158,961 against, and 3,045 abstentions. Peggy B. Scott garnered 4,356,452 votes for, 521,486 against, and 32,846 abstentions. Michael J. Mardy had 4,800,461 votes for, 87,468 against, and 22,855 abstentions. Lastly, Ryan A. Schroeder received 4,807,424 votes for, 100,771 against, and 2,589 abstentions.
Additionally, the non-binding advisory vote to approve executive compensation passed with 3,745,260 votes for, 1,118,875 against, and 46,649 abstentions. The appointment of Fiondella, Milone & LaSaracina LLP as the independent registered public accounting firm to audit the company’s consolidated financial statements for fiscal year 2025 was ratified with 5,476,907 votes for, 127,414 against, and 2,988 abstentions.
The Eastern Company , which trades under the symbol (NASDAQ:EML), has its shares listed on the NASDAQ Global Market. The company is currently trading below its InvestingPro Fair Value and will report its next earnings on May 6, 2025. Get access to detailed financial analysis and 6 additional ProTips for EML through InvestingPro’s comprehensive research platform. This information is based on a press release statement filed with the Securities and Exchange Commission.
In other recent news, The Eastern Company reported its Q4 2024 financial results, showing a 4.5% increase in net sales to $66.7 million, although net income for the quarter fell to $1.6 million from $3.9 million the previous year. For the full year, net income rose by 12% to $13.2 million, with total revenue reaching $272.8 million, marking a 5% increase year-over-year. The company has also expanded its credit capacity to $50 million through an amendment with TD Bank, enhancing its financial flexibility for growth initiatives.
Additionally, Eastern Company has appointed new leadership at key business units, including Zack Gorny as President of Eberhard Manufacturing and Emilio Ruffalo as President of Big Three Precision Products, to drive strategic growth. The firm is focusing on expanding its aftermarket business and adapting to potential changes in emissions regulations. CEO Ryan Schroeder emphasized a decentralized business approach to improve operational efficiency.
In terms of financial strategy, Eastern Company has adjusted its credit agreement to allow for increased investments and debt under more favorable terms, which could support its operational needs. The company continues to navigate supply chain challenges while leveraging its strong brand presence for future growth.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.