Weiss Ratings Reiterates Sell (D+) Rating for Eastern (NASDAQ:EML)

Eastern (NASDAQ:EML)‘s stock had its “sell (d+)” rating restated by Weiss Ratings in a report issued on Saturday,Weiss Ratings reports.

Eastern Stock Performance

Shares of EML opened at $21.18 on Friday. The stock has a market capitalization of $129.20 million, a price-to-earnings ratio of -16.05 and a beta of 0.96. Eastern has a 12 month low of $19.06 and a 12 month high of $35.03. The firm has a fifty day simple moving average of $23.37 and a 200 day simple moving average of $22.90. The company has a current ratio of 2.67, a quick ratio of 1.33 and a debt-to-equity ratio of 0.28.

Eastern (NASDAQ:EML) last issued its quarterly earnings results on Thursday, November 16th. The industrial products company reported $0.65 EPS for the quarter. Eastern had a negative net margin of 3.06% and a positive return on equity of 10.44%. The firm had revenue of $71.64 million for the quarter.

Insider Activity

In related news, Director Frederick D. Disanto acquired 3,000 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was bought at an average price of $22.58 per share, with a total value of $67,740.00. Following the acquisition, the director owned 86,449 shares in the company, valued at $1,952,018.42. This represents a 3.60% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders purchased 7,310 shares of company stock worth $166,533. Corporate insiders own 17.00% of the company’s stock.

Institutional Investors Weigh In On Eastern

Hedge funds have recently bought and sold shares of the company. Minerva Advisors LLC grew its holdings in Eastern by 1.0% during the first quarter. Minerva Advisors LLC now owns 505,987 shares of the industrial products company’s stock worth $12,812,000 after purchasing an additional 5,009 shares during the period. Koss Olinger Consulting LLC acquired a new stake in shares of Eastern in the first quarter valued at approximately $591,000. Goldman Sachs Group Inc. boosted its stake in shares of Eastern by 43.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,533 shares of the industrial products company’s stock worth $520,000 after acquiring an additional 6,219 shares during the period. Empowered Funds LLC increased its holdings in shares of Eastern by 7.1% during the 1st quarter. Empowered Funds LLC now owns 31,855 shares of the industrial products company’s stock worth $807,000 after acquiring an additional 2,100 shares during the last quarter. Finally, Strs Ohio bought a new stake in Eastern in the 1st quarter valued at $127,000. 76.99% of the stock is currently owned by institutional investors and hedge funds.

About Eastern

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.