Shares of The Eastern Company (NASDAQ:EML - Get Free Report) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $29.22 and traded as low as $28.05. Eastern shares last traded at $28.06, with a volume of 3,541 shares trading hands.
Analyst Upgrades and Downgrades
Separately, StockNews.com downgraded Eastern from a "strong-buy" rating to a "buy" rating in a research note on Wednesday.
Get Our Latest Stock Report on Eastern
Eastern Stock Performance
The company has a quick ratio of 1.42, a current ratio of 2.64 and a debt-to-equity ratio of 0.37. The stock has a market cap of $174.21 million, a price-to-earnings ratio of -27.37 and a beta of 0.98. The company has a 50 day simple moving average of $27.40 and a 200 day simple moving average of $29.23.
Eastern Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.56%. The ex-dividend date is Friday, February 14th. Eastern's payout ratio is -42.72%.
Institutional Trading of Eastern
Several hedge funds and other institutional investors have recently made changes to their positions in EML. Segall Bryant & Hamill LLC bought a new stake in shares of Eastern during the third quarter worth about $1,667,000. Citadel Advisors LLC bought a new stake in shares of Eastern during the fourth quarter worth about $340,000. JPMorgan Chase & Co. grew its holdings in shares of Eastern by 165.2% during the fourth quarter. JPMorgan Chase & Co. now owns 19,221 shares of the industrial products company's stock worth $510,000 after purchasing an additional 11,974 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Eastern by 72.7% during the third quarter. Empowered Funds LLC now owns 28,388 shares of the industrial products company's stock worth $921,000 after purchasing an additional 11,952 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Eastern by 3.9% during the fourth quarter. Russell Investments Group Ltd. now owns 256,278 shares of the industrial products company's stock worth $6,802,000 after purchasing an additional 9,524 shares during the last quarter. 76.99% of the stock is currently owned by institutional investors.
About Eastern
(
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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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