StockNews.com Upgrades Eastern (NASDAQ:EML) to “Strong-Buy”

Eastern (NASDAQ:EML) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Wednesday.

Eastern Stock Performance

Shares of EML stock opened at $28.30 on Wednesday. The firm has a 50 day moving average of $27.86 and a two-hundred day moving average of $29.31. The stock has a market capitalization of $174.89 million, a PE ratio of -27.48 and a beta of 0.99. The company has a quick ratio of 1.42, a current ratio of 2.64 and a debt-to-equity ratio of 0.37. Eastern has a 52 week low of $22.63 and a 52 week high of $35.78.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in Eastern by 2.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 386,281 shares of the industrial products company’s stock worth $9,838,000 after buying an additional 8,835 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Eastern by 0.4% in the 3rd 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 in the last quarter. State Street Corp raised its stake in Eastern by 8.3% during the 3rd quarter. State Street Corp now owns 68,301 shares of the industrial products company’s stock worth $2,216,000 after acquiring an additional 5,225 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Eastern by 37.9% in the second quarter. Bank of New York Mellon Corp now owns 52,259 shares of the industrial products company’s stock valued at $1,331,000 after acquiring an additional 14,373 shares during the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new stake in shares of Eastern in the 3rd quarter valued at about $1,667,000. Institutional investors and hedge funds own 76.99% of the company’s stock.

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.