The Eastern Company (NASDAQ:EML) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its stake in shares of The Eastern Company (NASDAQ:EML) by 226.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,247 shares of the industrial products company’s stock after purchasing an additional 5,027 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.12% of Eastern worth $235,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in Eastern by 2.3% in the second quarter. Dimensional Fund Advisors LP now owns 386,281 shares of the industrial products company’s stock valued at $9,838,000 after purchasing an additional 8,835 shares in 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 grew its position in shares of Eastern by 8.3% in the 3rd 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. Segall Bryant & Hamill LLC purchased a new position in shares of Eastern in the 3rd quarter valued at $1,667,000. Finally, De Lisle Partners LLP raised its stake in Eastern by 15.9% during the 3rd quarter. De Lisle Partners LLP now owns 40,922 shares of the industrial products company’s stock worth $1,320,000 after acquiring an additional 5,600 shares in the last quarter. Hedge funds and other institutional investors own 76.99% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Eastern from a “buy” rating to a “strong-buy” rating in a research report on Friday.

Eastern Price Performance

Eastern stock opened at $27.02 on Friday. The business has a 50 day simple moving average of $27.88 and a 200-day simple moving average of $29.38. The Eastern Company has a 12 month low of $22.63 and a 12 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 stock has a market capitalization of $166.98 million, a PE ratio of -26.23 and a beta of 0.99.

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

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.