Eastern (NASDAQ:EML) Upgraded at StockNews.com

StockNews.com upgraded shares of Eastern (NASDAQ:EML) from a buy rating to a strong-buy rating in a report released on Friday.

Eastern Price Performance

NASDAQ:EML opened at $27.02 on Friday. Eastern has a 52 week low of $22.63 and a 52 week high of $35.78. The stock’s fifty day moving average is $27.85 and its two-hundred day moving average is $29.36. The company has a market capitalization of $166.98 million, a P/E ratio of -26.23 and a beta of 0.99. The company has a quick ratio of 1.42, a current ratio of 2.64 and a debt-to-equity ratio of 0.37.

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

Hedge Funds Weigh In On Eastern

A number of hedge funds have recently made changes to their positions in EML. MetLife Investment Management LLC lifted its stake in Eastern by 129.1% during the third quarter. MetLife Investment Management LLC now owns 3,086 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 1,739 shares in the last quarter. Barclays PLC lifted its stake in Eastern by 277.7% during the 3rd quarter. Barclays PLC now owns 6,875 shares of the industrial products company’s stock worth $223,000 after acquiring an additional 5,055 shares in the last quarter. HighTower Advisors LLC acquired a new position in Eastern during the 3rd quarter worth about $231,000. JPMorgan Chase & Co. boosted its holdings in Eastern by 226.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,247 shares of the industrial products company’s stock valued at $235,000 after acquiring an additional 5,027 shares during the period. Finally, BNP Paribas Financial Markets grew its position in Eastern by 719.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,431 shares of the industrial products company’s stock valued at $241,000 after acquiring an additional 6,524 shares in the last quarter. Hedge funds and other institutional investors own 76.99% of the company’s stock.

Eastern Company Profile

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.