Ancora Advisors LLC Grows Position in The Eastern Company (NASDAQ:EML)

Ancora Advisors LLC boosted its position in The Eastern Company (NASDAQ:EML) by 1.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 69,047 shares of the industrial products company’s stock after purchasing an additional 1,250 shares during the period. Ancora Advisors LLC owned about 1.11% of Eastern worth $2,354,000 as of its most recent SEC filing.

Separately, Victory Capital Management Inc. purchased a new position in Eastern in the fourth quarter worth about $75,000. Hedge funds and other institutional investors own 76.99% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Eastern from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 25th.

Eastern Stock Up 4.3 %

EML stock opened at $29.44 on Thursday. The Eastern Company has a twelve month low of $16.10 and a twelve month high of $35.78. The company has a quick ratio of 1.35, a current ratio of 2.63 and a debt-to-equity ratio of 0.30. The stock has a market cap of $183.41 million, a P/E ratio of 18.63 and a beta of 1.04. The business’s 50-day moving average price is $27.31 and its 200-day moving average price is $27.69.

Eastern (NASDAQ:EML) last posted its quarterly earnings data on Monday, May 6th. The industrial products company reported $0.31 earnings per share for the quarter. Eastern had a return on equity of 8.44% and a net margin of 3.69%. The firm had revenue of $67.93 million for the quarter.

Insider Activity

In related news, CEO Mark Anthony Hernandez bought 2,341 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were purchased at an average price of $28.99 per share, with a total value of $67,865.59. Following the transaction, the chief executive officer now owns 35,249 shares in the company, valued at approximately $1,021,868.51. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 17.00% of the company’s stock.

Eastern Company Profile

The Eastern Company designs, manufactures, and sells engineered solutions to industrial markets in the United States and internationally. The company offers turnkey returnable packaging solutions, which are used in the assembly processes of vehicles, aircraft, and durable goods, as well as in production processes 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 for the stretch blow molding industry; and supplies blow molds and change parts to the food, beverage, healthcare, and chemical industries.