GAMCO Investors Updates Eastern Co. Stake in 13D/A Filing

TL;DR

**GAMCO Investors just updated their Eastern Co. stake, signaling continued institutional interest.**

AI Summary

GAMCO Investors, Inc. and its affiliates, including Gabelli Funds, LLC, filed an Amendment No. 12 to their Schedule 13D on January 30, 2024, regarding their ownership in The Eastern Company. This filing updates previous disclosures about their stake in the company's Common Stock. This matters to investors because GAMCO is a significant institutional holder, and changes in their filings can signal shifts in their investment thesis or potential activist intentions, which could influence the stock's future performance.

Why It Matters

This filing indicates that a major institutional investor, GAMCO Investors, continues to hold a significant position in The Eastern Company, suggesting ongoing interest and potential influence over the company's direction.

Risk Assessment

Risk Level: low — This is an amendment to an existing filing, indicating a routine update rather than a new, unexpected event.

Analyst Insight

Investors should monitor future filings from GAMCO Investors regarding The Eastern Company for any significant changes in their reported ownership percentage or stated investment intentions, as these could signal a shift in their view of the company's prospects.

Key Numbers

• Amendment No. 12 — Amendment Number (Indicates this is the twelfth update to the original Schedule 13D filing by GAMCO Investors regarding The Eastern Company.)
• 276317104 — CUSIP Number (Unique identifier for The Eastern Company's Common Stock, confirming the security being reported.)

Key Players & Entities

• GAMCO Investors, Inc. (company) — the filing entity and a significant institutional investor
• The Eastern Company (company) — the subject company whose common stock is being reported
• Gabelli Funds, LLC (company) — an affiliate of GAMCO Investors, Inc. and a reporting person
• David Goldman (person) — authorized to receive notices for GAMCO Investors, Inc.
• January 30, 2024 (date) — date of the event requiring the filing

Forward-Looking Statements

• GAMCO Investors will maintain a significant stake in The Eastern Company. (GAMCO Investors, Inc.) — high confidence, target: Ongoing

FAQ

Filing Documents

• eml_12.htm (SC 13D/A) — 161KB
• 0000807249-24-000020.txt ( ) — 163KB

Security and Issuer

Item 1. Security and Issuer This Amendment No. 12 to Schedule 13D on the Common Stock of The Eastern Company (the "Issuer") is being filed on behalf of the undersigned to amend the Schedule 13D, as amended (the "Schedule 13D") which was originally filed on February 11, 2015. Unless otherwise indicated, all capitalized terms used herein but not defined herein shall have the same meanings as set forth in the Schedule 13D.

Identity and Background

Item 2. Identity and Background

to Schedule 13D is amended, in pertinent part, as follows

Item 2 to Schedule 13D is amended, in pertinent part, as follows: This statement is being filed by various entities which except for LICT Corporation ("LICT) and CIBL, Inc. ("CIBL"), engage in various aspects of the securities business, primarily as investment adviser to various institutional and individual clients, including registered investment companies and pension plans, and as general partner or the equivalent of various private investment partnerships or private funds and as a registered broker-dealer. Certain of these entities may also make investments for their own accounts. Mario J. Gabelli ("Mario Gabelli") is deemed to directly or indirectly control these entities through his ownership interest. The foregoing persons in the aggregate often own beneficially more than 5% of a class of equity securities of a particular issuer. Although several of the foregoing persons are treated as institutional investors for purposes of reporting their beneficial ownership on the short-form Schedule 13G, the holdings of those who do not qualify as institutional investors may exceed the 1% threshold presented for filing on Schedule 13G or implementation of their investment philosophy may from time to time require action which could be viewed as not completely passive. In order to avoid any question as to whether their beneficial than on the short-form Schedule 13G and thereby to provide more expansive disclosure than may be necessary. (a), (b) and (c) - This statement is being filed by one or more of the following persons: GGCP, Inc. ("GGCP"), GGCP Holdings LLC ("GGCP Holdings"), GAMCO Investors, Inc. ("GBL"), Associated Capital Group, Inc. ("AC"), Gabelli Funds, LLC ("Gabelli Funds"), GAMCO Asset Management Inc. ("GAMCO"),

Interest In Securities Of The Issuer

Item 5. Interest In Securities Of The Issuer

to Schedule 13D is amended, in pertinent part, as follows

Item 5 to Schedule 13D is amended, in pertinent part, as follows: (a) The aggregate number of Securities to which this Schedule 13D relates is 972,955 shares, representing 15.60% of the 6,238,413 shares outstanding as reported in the Issuer's most recently filed Form 10-Q for the quarterly period ended September 30, 2023. The Reporting Persons beneficially own those Securities as follows: Name Shares of Common Stock % of Class of Common GAMCO Gabelli Funds Teton Advisors 518,755 175,200 279,000 8.32% 2.81% 4.47% Mario Gabelli is deemed to have beneficial ownership of the Securities owned beneficially by each of the foregoing persons. AC, GBL and GGCP are deemed to have beneficial ownership of the Securities owned beneficially by each of the foregoing persons other than Mario Gabelli and the Foundation. (b) Each of the Reporting Persons and Covered Persons has the sole power to vote or direct the vote and sole power to dispose or to direct the disposition of the Securities reported for it, either for its own benefit or for the benefit of its investment clients or its partners, as the case may be, except that (i) GAMCO does not have the authority to vote 70,231 of the reported shares, (ii) Gabelli Funds has sole dispositive and voting power with respect to the shares of the Issuer held by the Funds so long as the aggregate voting interest of all joint filers does not exceed 25% of their total voting interest in the Issuer and, in that event, the Proxy Voting Committee of each Fund shall respectively vote that Fund's shares, (iii) at any time, the Proxy Voting Committee of each such Fund may take and exercise in its sole discretion the entire voting power with respect to the shares held by such fund under special circumstances such as regulatory considerations, and (iv) the power of Mario Gabelli, AC, GBL, and GGCP is indirect with respect to Securities beneficially owned directly by other Reporting Persons. (c) Information with respect to all transac

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