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

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

Shares of NASDAQ EML opened at $23.29 on Wednesday. Eastern has a 52-week low of $23.05 and a 52-week high of $33.96. The firm has a fifty day moving average of $23.70 and a 200-day moving average of $24.60. The stock has a market capitalization of $145.38 million, a PE ratio of 13.01 and a beta of 0.99. The company has a quick ratio of 1.23, a current ratio of 2.50 and a debt-to-equity ratio of 0.56.

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

Several large investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its holdings in shares of Eastern by 2.5% during the 4th quarter. BlackRock Inc. now owns 35,523 shares of the industrial products company’s stock valued at $890,000 after acquiring an additional 874 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Eastern by 1.6% during the 4th quarter. Wells Fargo & Company MN now owns 73,072 shares of the industrial products company’s stock valued at $1,832,000 after acquiring an additional 1,132 shares in the last quarter. Susquehanna International Group LLP lifted its holdings in shares of Eastern by 140.8% during the 4th quarter. Susquehanna International Group LLP now owns 23,237 shares of the industrial products company’s stock valued at $585,000 after acquiring an additional 13,587 shares in the last quarter. Forager Capital Management LLC acquired a new position in shares of Eastern during the 4th quarter valued at $8,114,000. Finally, Gamco Investors INC. ET AL lifted its holdings in shares of Eastern by 3.4% during the 4th quarter. Gamco Investors INC. ET AL now owns 554,743 shares of the industrial products company’s stock valued at $13,907,000 after acquiring an additional 18,298 shares in the last quarter. Institutional investors and hedge funds own 57.60% of the company’s stock.

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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