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Aug 12, 2023

Eastern (NASDAQ:EML) Now Covered by StockNews.com

Research analysts at StockNews.com started coverage on shares of Eastern (NASDAQ:EML - Get Free Report) in a report released on Sunday. The brokerage set a "buy" rating on the industrial products

Research analysts at StockNews.com started coverage on shares of Eastern (NASDAQ:EML - Get Free Report) in a report released on Sunday. The brokerage set a "buy" rating on the industrial products company's stock.

Shares of NASDAQ:EML opened at $18.49 on Friday. The stock's 50-day moving average price is $17.92 and its two-hundred day moving average price is $18.89. The company has a current ratio of 2.69, a quick ratio of 1.42 and a debt-to-equity ratio of 0.40. Eastern has a 12-month low of $15.30 and a 12-month high of $24.35. The firm has a market cap of $115.19 million, a price-to-earnings ratio of 11.85 and a beta of 1.06.

Eastern (NASDAQ:EML - Get Free Report) last released its quarterly earnings data on Tuesday, May 9th. The industrial products company reported $0.36 earnings per share for the quarter. The business had revenue of $72.50 million for the quarter. Eastern had a return on equity of 8.57% and a net margin of 3.43%.

In other Eastern news, Director Charles W. Henry purchased 2,000 shares of the company's stock in a transaction that occurred on Friday, May 12th. The shares were purchased at an average cost of $16.60 per share, with a total value of $33,200.00. Following the completion of the transaction, the director now owns 1,000 shares of the company's stock, valued at $16,600. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 16.31% of the company's stock.

Large investors have recently added to or reduced their stakes in the company. UBS Group AG raised its holdings in shares of Eastern by 13.0% in the 4th quarter. UBS Group AG now owns 4,559 shares of the industrial products company's stock worth $88,000 after buying an additional 524 shares in the last quarter. EA Series Trust acquired a new stake in Eastern during the 2nd quarter valued at $221,000. Susquehanna International Group LLP acquired a new stake in Eastern during the 1st quarter valued at $245,000. Royal Bank of Canada increased its holdings in Eastern by 7.3% during the 3rd quarter. Royal Bank of Canada now owns 16,200 shares of the industrial products company's stock valued at $281,000 after purchasing an additional 1,100 shares in the last quarter. Finally, State Street Corp increased its holdings in Eastern by 3.9% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 68.72% of the company's stock.

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.

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