Eastern (NASDAQ:EML) Stock Price Crosses Above 200 Day Moving Average of $20.38

The Eastern Company (NASDAQ:EMLGet Rating)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $20.38 and traded as high as $22.51. Eastern shares last traded at $22.40, with a volume of 1,383 shares changing hands.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. TheStreet downgraded shares of Eastern from a “b-” rating to a “c” rating in a report on Thursday, September 8th. StockNews.com initiated coverage on shares of Eastern in a research note on Wednesday. They issued a “buy” rating on the stock.

Eastern Trading Down 2.0 %

The company’s fifty day moving average is $19.79 and its 200-day moving average is $20.38. The company has a market capitalization of $139.22 million, a PE ratio of 8.85 and a beta of 0.95. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.92 and a quick ratio of 1.49.

Eastern Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Tuesday, November 15th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Monday, November 14th. This represents a $0.44 annualized dividend and a yield of 1.96%. Eastern’s dividend payout ratio (DPR) is 17.39%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in shares of Eastern by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 412,367 shares of the industrial products company’s stock valued at $9,604,000 after purchasing an additional 3,207 shares during the period. Gamco Investors INC. ET AL raised its position in Eastern by 0.3% during the first quarter. Gamco Investors INC. ET AL now owns 556,193 shares of the industrial products company’s stock worth $12,954,000 after acquiring an additional 1,450 shares during the period. Ancora Advisors LLC raised its position in Eastern by 5.8% during the first quarter. Ancora Advisors LLC now owns 63,797 shares of the industrial products company’s stock worth $1,710,000 after acquiring an additional 3,500 shares during the period. UBS Group AG raised its position in Eastern by 21.2% during the first quarter. UBS Group AG now owns 4,702 shares of the industrial products company’s stock worth $109,000 after acquiring an additional 822 shares during the period. Finally, State Street Corp raised its position in Eastern by 3.9% during the first quarter. State Street Corp now owns 17,120 shares of the industrial products company’s stock worth $399,000 after acquiring an additional 640 shares during the period. Hedge funds and other institutional investors own 62.90% 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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