StockNews.com Initiates Coverage on Eastern (NASDAQ:EML)

Equities research analysts at StockNews.com initiated coverage on shares of Eastern (NASDAQ:EML – Get Rating) in a report released on Wednesday. The firm set a “buy” rating on the industrial products company’s stock.

Eastern Trading Down 2.2 %

EML opened at $21.02 on Wednesday. The stock has a market capitalization of $130.74 million, a P/E ratio of 8.31 and a beta of 1.04. Eastern has a 12 month low of $17.10 and a 12 month high of $25.11. The firm’s fifty day simple moving average is $21.61 and its 200 day simple moving average is $20.72. The company has a current ratio of 2.92, a quick ratio of 1.49 and a debt-to-equity ratio of 0.54.

Institutional Investors Weigh In On Eastern

Several institutional investors have recently added to or reduced their stakes in EML. Gamco Investors INC. ET AL increased its stake in Eastern by 0.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 556,193 shares of the industrial products company’s stock valued at $12,954,000 after buying an additional 1,450 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in 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 buying an additional 3,207 shares during the last quarter. Wells Fargo & Company MN increased its stake in Eastern by 24.6% in the 2nd quarter. Wells Fargo & Company MN now owns 118,122 shares of the industrial products company’s stock valued at $2,403,000 after buying an additional 23,344 shares during the last quarter. Ancora Advisors LLC increased its stake in Eastern by 5.8% in the 1st quarter. Ancora Advisors LLC now owns 63,797 shares of the industrial products company’s stock valued at $1,710,000 after buying an additional 3,500 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Eastern by 3.9% during the 1st quarter. State Street Corp now owns 17,120 shares of the industrial products company’s stock worth $399,000 after purchasing an additional 640 shares during the last quarter. 67.54% of the stock is owned by institutional investors.

Eastern Company Profile

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The Eastern Co engages in the design, manufacture and sale of industrial hardware, security products and metal products. It operates through the following segments: Engineered Solutions and Diversified Products. The Engineered Solutions segment consists of Big 3 Precision. The Diversified Products segment consists of Frazer & Jones, Greenwald Industries, and Argo EMS.