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

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

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

Eastern Stock Performance

Shares of Eastern stock opened at $22.50 on Wednesday. The firm’s 50 day moving average is $19.93 and its two-hundred day moving average is $20.40. Eastern has a 52 week low of $17.10 and a 52 week high of $28.32. The company has a quick ratio of 1.49, a current ratio of 2.92 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $139.95 million, a P/E ratio of 8.89 and a beta of 0.95.

Hedge Funds Weigh In On Eastern

Several institutional investors have recently bought and sold shares of the company. UBS Group AG lifted its stake in shares of Eastern by 21.2% in the 1st quarter. UBS Group AG now owns 4,702 shares of the industrial products company’s stock worth $109,000 after acquiring an additional 822 shares during the period. Royal Bank of Canada raised its holdings in Eastern by 7.3% during the third quarter. Royal Bank of Canada now owns 16,200 shares of the industrial products company’s stock worth $281,000 after purchasing an additional 1,100 shares in the last quarter. State Street Corp lifted its position in Eastern by 3.9% in the first quarter. State Street Corp now owns 17,120 shares of the industrial products company’s stock valued at $399,000 after purchasing an additional 640 shares during the period. Ancora Advisors LLC boosted its holdings in Eastern by 5.8% in the 1st quarter. Ancora Advisors LLC now owns 63,797 shares of the industrial products company’s stock valued at $1,710,000 after purchasing an additional 3,500 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in Eastern by 24.6% during the 2nd quarter. Wells Fargo & Company MN now owns 118,122 shares of the industrial products company’s stock worth $2,403,000 after purchasing an additional 23,344 shares during the period. 62.90% of the stock is owned by institutional investors and hedge funds.

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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