Eastern (NASDAQ:EML) Stock Price Crosses Below 200-Day Moving Average - What's Next?

The Eastern Company (NASDAQ:EML - Get Free Report) shares crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $29.33 and traded as low as $26.17. Eastern shares last traded at $26.66, with a volume of 9,518 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Eastern from a "strong-buy" rating to a "buy" rating in a report on Wednesday, December 18th.

Eastern Price 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 firm has a fifty day moving average price of $27.88 and a two-hundred day moving average price of $29.31. The stock has a market capitalization of $172.38 million, a P/E ratio of -27.07 and a beta of 0.99.

Eastern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 15th were issued a dividend of $0.11 per share. The ex-dividend date was Friday, November 15th. This represents a $0.44 annualized dividend and a dividend yield of 1.58%. Eastern's payout ratio is presently -42.72%.

Hedge Funds Weigh In On Eastern

Several institutional investors and hedge funds have recently modified their holdings of EML. Segall Bryant & Hamill LLC purchased a new stake in shares of Eastern during the third quarter valued at $1,667,000. Victory Capital Management Inc. purchased a new stake in shares of Eastern during the second quarter valued at $1,190,000. Geode Capital Management LLC boosted its position in shares of Eastern by 0.4% during the third quarter. Geode Capital Management LLC now owns 127,108 shares of the industrial products company's stock valued at $4,126,000 after buying an additional 449 shares during the last quarter. State Street Corp boosted its position in shares of Eastern by 8.3% during the third quarter. State Street Corp now owns 68,301 shares of the industrial products company's stock valued at $2,216,000 after buying an additional 5,225 shares during the last quarter. Finally, HighTower Advisors LLC purchased a new stake in shares of Eastern during the third quarter valued at $231,000. 76.99% of the stock is currently owned by institutional investors.

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.