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

StockNews.com started coverage on shares of Eastern (NASDAQ:EMLGet Rating) in a research note issued to investors on Tuesday. The brokerage set a “buy” rating on the industrial products company’s stock.

Shares of EML stock opened at $23.20 on Tuesday. The firm has a market capitalization of $144.81 million, a PE ratio of 12.96 and a beta of 0.99. The firm has a fifty day simple moving average of $23.90 and a two-hundred day simple moving average of $24.66. The company has a current ratio of 2.50, a quick ratio of 1.23 and a debt-to-equity ratio of 0.56. Eastern has a 12 month low of $23.05 and a 12 month high of $33.96.

Eastern (NASDAQ:EMLGet Rating) last announced its quarterly earnings results on Thursday, March 17th. The industrial products company reported $0.65 EPS for the quarter. Eastern had a net margin of 4.36% and a return on equity of 13.80%. The business had revenue of $59.60 million during the quarter.

Several hedge funds and other institutional investors have recently bought and sold shares of EML. Cove Street Capital LLC bought a new position in Eastern during the third quarter valued at about $65,000. Morgan Stanley lifted its holdings in Eastern by 50.7% during the second quarter. Morgan Stanley now owns 5,884 shares of the industrial products company’s stock valued at $178,000 after purchasing an additional 1,980 shares during the last quarter. Wittenberg Investment Management Inc. lifted its holdings in Eastern by 6.7% during the third quarter. Wittenberg Investment Management Inc. now owns 14,375 shares of the industrial products company’s stock valued at $362,000 after purchasing an additional 903 shares during the last quarter. Northern Trust Corp lifted its holdings in Eastern by 2.8% during the fourth quarter. Northern Trust Corp now owns 15,603 shares of the industrial products company’s stock valued at $391,000 after purchasing an additional 429 shares during the last quarter. Finally, Susquehanna International Group LLP lifted its holdings in Eastern by 140.8% during the fourth quarter. Susquehanna International Group LLP now owns 23,237 shares of the industrial products company’s stock valued at $585,000 after purchasing an additional 13,587 shares during the last quarter. Hedge funds and other institutional investors own 57.60% of the company’s stock.

About Eastern (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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