Eastern (NASDAQ:EML) Coverage Initiated by Analysts at StockNews.com

Research analysts at StockNews.com started coverage on shares of Eastern (NASDAQ:EMLGet Rating) in a report issued on Wednesday. The brokerage set a “buy” rating on the industrial products company’s stock.

Separately, TheStreet downgraded shares of Eastern from a “b-” rating to a “c” rating in a research report on Thursday, September 8th.

Eastern Stock Up 0.4 %

EML stock opened at $22.50 on Wednesday. The company has a market capitalization of $139.95 million, a P/E ratio of 8.89 and a beta of 0.95. The firm has a 50 day simple moving average of $19.93 and a 200-day simple moving average of $20.40. The company has a current ratio of 2.92, a quick ratio of 1.49 and a debt-to-equity ratio of 0.54. Eastern has a twelve month low of $17.10 and a twelve month high of $28.32.

Institutional Trading of Eastern

Institutional investors have recently added to or reduced their stakes in the business. Forager Capital Management LLC lifted its holdings in Eastern by 18.6% in the third quarter. Forager Capital Management LLC now owns 443,327 shares of the industrial products company’s stock worth $7,692,000 after acquiring an additional 69,459 shares during the last quarter. Royal Bank of Canada increased its position in Eastern by 7.3% in the third quarter. Royal Bank of Canada now owns 16,200 shares of the industrial products company’s stock worth $281,000 after buying an additional 1,100 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Eastern by 0.3% during the third quarter. Dimensional Fund Advisors LP now owns 417,769 shares of the industrial products company’s stock valued at $7,248,000 after acquiring an additional 1,070 shares during the period. Russell Investments Group Ltd. bought a new position in shares of Eastern during the third quarter worth about $3,765,000. Finally, Wells Fargo & Company MN increased its holdings in shares of Eastern by 24.6% in the 2nd quarter. Wells Fargo & Company MN now owns 118,122 shares of the industrial products company’s stock worth $2,403,000 after acquiring an additional 23,344 shares during the period. Institutional investors own 62.90% of the company’s stock.

Eastern Company Profile

(Get Rating)

The Eastern Company designs, manufactures, and sells engineered solutions to industrial markets in the United States and internationally. It offers turnkey returnable packaging solutions that are used in the assembly process of vehicles, aircraft, and durable goods, as well as in the production process of plastic packaging products, packaged consumer goods, and pharmaceuticals; designs and manufactures blow mold tools and injection blow mold tooling products, and 2-step stretch blow molds and related components; and supplies blow molds and change parts to the food, beverage, healthcare, and chemical industry.

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