Eastern (NASDAQ:EML) Stock Rating Lowered by StockNews.com

Eastern (NASDAQ:EML) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday.

Eastern Trading Down 3.6 %

Shares of EML opened at $26.31 on Friday. Eastern has a twelve month low of $22.63 and a twelve month high of $35.78. The stock has a market cap of $162.67 million, a PE ratio of -25.54 and a beta of 0.98. 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’s 50-day moving average price is $27.69 and its 200-day moving average price is $29.28.

Institutional Investors Weigh In On Eastern

Several large investors have recently added to or reduced their stakes in EML. Segall Bryant & Hamill LLC purchased a new position in Eastern in the 3rd quarter worth approximately $1,667,000. Empowered Funds LLC grew its position in Eastern by 72.7% in the third quarter. Empowered Funds LLC now owns 28,388 shares of the industrial products company’s stock worth $921,000 after acquiring an additional 11,952 shares in the last quarter. HighTower Advisors LLC bought a new position in Eastern in the third quarter valued at $231,000. BNP Paribas Financial Markets raised its position in Eastern by 719.3% during the third quarter. BNP Paribas Financial Markets now owns 7,431 shares of the industrial products company’s stock valued at $241,000 after purchasing an additional 6,524 shares in the last quarter. Finally, De Lisle Partners LLP lifted its stake in Eastern by 15.9% during the third quarter. De Lisle Partners LLP now owns 40,922 shares of the industrial products company’s stock worth $1,320,000 after purchasing an additional 5,600 shares during the last quarter. Institutional investors 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.