Eastern (NASDAQ:EML) Stock Price Crosses Below 200 Day Moving Average – Should You Sell?

The Eastern Company (NASDAQ:EML) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $29.39 and traded as low as $27.74. Eastern shares last traded at $27.74, with a volume of 3,415 shares traded.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Eastern from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 23rd.

Eastern Stock Down 1.6 %

The firm has a market cap of $171.43 million, a PE ratio of -26.93 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. The business has a 50-day moving average price of $27.89 and a two-hundred day moving average price of $29.39.

Eastern (NASDAQ:EML) last posted its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter. Eastern had a positive return on equity of 10.44% and a negative net margin of 2.26%. The company had revenue of $71.27 million for the quarter.

Hedge Funds Weigh In On Eastern

Large investors have recently bought and sold shares of the stock. MetLife Investment Management LLC lifted its holdings in shares of Eastern by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 3,086 shares of the industrial products company’s stock valued at $100,000 after purchasing an additional 1,739 shares during the last quarter. Barclays PLC lifted its stake in Eastern by 277.7% in the third quarter. Barclays PLC now owns 6,875 shares of the industrial products company’s stock valued at $223,000 after buying an additional 5,055 shares during the last quarter. HighTower Advisors LLC acquired a new stake in shares of Eastern in the third quarter valued at approximately $231,000. JPMorgan Chase & Co. grew its position in shares of Eastern by 226.4% during the third quarter. JPMorgan Chase & Co. now owns 7,247 shares of the industrial products company’s stock worth $235,000 after acquiring an additional 5,027 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Eastern by 719.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,431 shares of the industrial products company’s stock valued at $241,000 after acquiring an additional 6,524 shares during the period. 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.