Eastern (NASDAQ:EML - Get Free Report) was downgraded by stock analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a research note issued on Wednesday.
Eastern Trading Down 3.1 %
Eastern stock traded down $0.89 during midday trading on Wednesday, reaching $28.19. The stock had a trading volume of 7,915 shares, compared to its average volume of 7,172. The firm's fifty day simple moving average is $27.40 and its two-hundred day simple moving average is $29.23. Eastern has a twelve month low of $22.96 and a twelve month high of $35.78. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.64 and a quick ratio of 1.42. The firm has a market cap of $174.21 million, a price-to-earnings ratio of -27.37 and a beta of 0.98.
Institutional Investors Weigh In On Eastern
Institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC boosted its stake in shares of Eastern by 218.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,120 shares of the industrial products company's stock valued at $30,000 after buying an additional 768 shares during the period. Deutsche Bank AG acquired a new stake in shares of Eastern during the 4th quarter valued at $43,000. MetLife Investment Management LLC boosted its stake in shares of Eastern by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 3,086 shares of the industrial products company's stock valued at $100,000 after buying an additional 1,739 shares during the period. Barclays PLC boosted its stake in shares of Eastern by 13.8% during the 4th quarter. Barclays PLC now owns 7,824 shares of the industrial products company's stock valued at $207,000 after buying an additional 949 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in shares of Eastern by 12.3% during the 4th quarter. BNP Paribas Financial Markets now owns 8,346 shares of the industrial products company's stock valued at $222,000 after buying an additional 915 shares during the period. Institutional investors and hedge funds own 76.99% of the company's stock.
Eastern Company Profile
(
Get Free Report)
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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