Stock analysts at StockNews.com began coverage on shares of Eastern (NASDAQ:EML – Get Rating) in a report issued on Wednesday. The firm set a “buy” rating on the industrial products company’s stock.
Shares of EML stock opened at $19.72 on Wednesday. The stock’s fifty day moving average is $21.63 and its 200-day moving average is $23.63. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.31 and a current ratio of 2.66. The stock has a market capitalization of $123.05 million, a PE ratio of 14.72 and a beta of 0.94. Eastern has a 52 week low of $19.56 and a 52 week high of $32.67.
Eastern (NASDAQ:EML – Get Rating) last announced its earnings results on Monday, May 9th. The industrial products company reported $0.46 EPS for the quarter. The company had revenue of $69.02 million for the quarter. Eastern had a return on equity of 12.16% and a net margin of 3.32%.
In related news, Director Frederick D. Disanto bought 1,619 shares of the business’s stock in a transaction on Wednesday, June 1st. The shares were purchased at an average price of $21.00 per share, with a total value of $33,999.00. Following the completion of the purchase, the director now owns 27,144 shares of the company’s stock, valued at approximately $570,024. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Frederick D. Disanto bought 2,000 shares of the business’s stock in a transaction on Friday, May 20th. The stock was bought at an average cost of $20.92 per share, for a total transaction of $41,840.00. Following the purchase, the director now directly owns 23,725 shares of the company’s stock, valued at approximately $496,327. The disclosure for this purchase can be found here. Insiders have bought 6,421 shares of company stock worth $134,009 in the last ninety days. 16.31% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the business. Forager Capital Management LLC bought a new stake in shares of Eastern in the fourth quarter worth about $8,114,000. Gamco Investors INC. ET AL increased its holdings in shares of Eastern by 3.4% in the fourth quarter. Gamco Investors INC. ET AL now owns 554,743 shares of the industrial products company’s stock worth $13,907,000 after acquiring an additional 18,298 shares in the last quarter. Susquehanna International Group LLP grew its holdings in shares of Eastern by 140.8% during the fourth quarter. Susquehanna International Group LLP now owns 23,237 shares of the industrial products company’s stock worth $585,000 after buying an additional 13,587 shares in the last quarter. Ancora Advisors LLC grew its holdings in shares of Eastern by 5.8% during the first quarter. Ancora Advisors LLC now owns 63,797 shares of the industrial products company’s stock worth $1,710,000 after buying an additional 3,500 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Eastern by 6.9% during the third quarter. Geode Capital Management LLC now owns 51,216 shares of the industrial products company’s stock worth $1,288,000 after buying an additional 3,286 shares in the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.
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.