Eastern (NASDAQ:EML) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Eastern (NASDAQ:EML) from a buy rating to a strong-buy rating in a report published on Friday.

Eastern Stock Down 2.6 %

EML stock opened at $27.02 on Friday. The business’s 50-day moving average price is $27.88 and its 200-day moving average price is $29.38. The company has a quick ratio of 1.42, a current ratio of 2.64 and a debt-to-equity ratio of 0.37. Eastern has a twelve month low of $22.63 and a twelve month high of $35.78.

Eastern (NASDAQ:EML) last issued its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.75 earnings per share for the quarter. The business had revenue of $71.27 million for the quarter. Eastern had a negative net margin of 2.26% and a positive return on equity of 10.44%.

Institutional Trading of Eastern

Several institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its stake in Eastern by 2.3% during the second quarter. Dimensional Fund Advisors LP now owns 386,281 shares of the industrial products company’s stock valued at $9,838,000 after acquiring an additional 8,835 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Eastern by 72.7% during the 3rd quarter. Empowered Funds LLC now owns 28,388 shares of the industrial products company’s stock valued at $921,000 after purchasing an additional 11,952 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of Eastern during the third quarter valued at about $1,667,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Eastern by 45.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,522 shares of the industrial products company’s stock worth $439,000 after purchasing an additional 4,218 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Eastern by 719.3% in the third quarter. BNP Paribas Financial Markets now owns 7,431 shares of the industrial products company’s stock worth $241,000 after buying an additional 6,524 shares in the last quarter. Hedge funds and other institutional investors own 76.99% 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.