Eastern (NASDAQ:EML) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Eastern (NASDAQ:EMLGet Rating) in a report released on Monday. The firm set a “buy” rating on the industrial products company’s stock.

Eastern stock opened at $20.80 on Monday. The company has a fifty day simple moving average of $22.30 and a 200-day simple moving average of $23.98. The company has a quick ratio of 1.31, a current ratio of 2.66 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $129.79 million, a price-to-earnings ratio of 15.52 and a beta of 0.94. Eastern has a 52-week low of $19.90 and a 52-week high of $33.96.

Eastern (NASDAQ:EMLGet Rating) last announced its quarterly earnings data on Monday, May 9th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter. Eastern had a net margin of 3.32% and a return on equity of 12.16%. The company had revenue of $69.02 million during the quarter.

In other news, Director Frederick D. Disanto purchased 1,619 shares of the business’s stock in a transaction dated Wednesday, June 1st. The stock was acquired at an average price of $21.00 per share, for a total transaction of $33,999.00. Following the acquisition, the director now directly owns 27,144 shares of the company’s stock, valued at $570,024. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frederick D. Disanto purchased 1,800 shares of the business’s stock in a transaction dated Tuesday, May 24th. The shares were purchased at an average price of $21.05 per share, with a total value of $37,890.00. Following the acquisition, the director now directly owns 25,524 shares in the company, valued at $537,280.20. The disclosure for this purchase can be found here. Insiders acquired a total of 6,421 shares of company stock worth $134,009 over the last three months. Corporate insiders own 16.31% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. UBS Group AG increased its holdings in shares of Eastern by 21.2% during the 1st quarter. UBS Group AG now owns 4,702 shares of the industrial products company’s stock worth $109,000 after buying an additional 822 shares during the last quarter. Morgan Stanley increased its holdings in Eastern by 50.7% in the 2nd quarter. Morgan Stanley now owns 5,884 shares of the industrial products company’s stock valued at $178,000 after purchasing an additional 1,980 shares during the last quarter. Northern Trust Corp increased its holdings in Eastern by 2.8% in the 4th quarter. Northern Trust Corp now owns 15,603 shares of the industrial products company’s stock valued at $391,000 after purchasing an additional 429 shares during the last quarter. State Street Corp increased its holdings in Eastern by 3.9% in the 1st quarter. State Street Corp now owns 17,120 shares of the industrial products company’s stock valued at $399,000 after purchasing an additional 640 shares during the last quarter. Finally, Susquehanna International Group LLP increased its holdings in Eastern by 140.8% in the 4th quarter. Susquehanna International Group LLP now owns 23,237 shares of the industrial products company’s stock valued at $585,000 after purchasing an additional 13,587 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

About Eastern (Get Rating)

The Eastern Company designs, manufactures, and sells engineered solutions to industrial markets in the United States and internationally. It offers turnkey returnable packaging solutions that are used in the assembly process of vehicles, aircraft, and durable goods, as well as in the production process 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; and supplies blow molds and change parts to the food, beverage, healthcare, and chemical industry.

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