Equities researchers at StockNews.com assumed coverage on shares of Eastern (NASDAQ:EML – Get Rating) in a report released on Monday. The brokerage set a “buy” rating on the industrial products company’s stock.
Eastern Stock Performance
Shares of EML opened at $17.88 on Monday. The firm has a 50-day moving average price of $19.72 and a 200 day moving average price of $20.70. The firm has a market capitalization of $111.25 million, a PE ratio of 9.22 and a beta of 1.05. The company has a quick ratio of 1.29, a current ratio of 2.67 and a debt-to-equity ratio of 0.44. Eastern has a 52-week low of $15.30 and a 52-week high of $24.35.
Institutional Trading of Eastern
Hedge funds have recently bought and sold shares of the company. UBS Group AG lifted its stake in Eastern by 13.0% during the fourth quarter. UBS Group AG now owns 4,559 shares of the industrial products company’s stock valued at $88,000 after buying an additional 524 shares in the last quarter. Royal Bank of Canada lifted its stake in Eastern by 7.3% during the third quarter. Royal Bank of Canada now owns 16,200 shares of the industrial products company’s stock valued at $281,000 after buying an additional 1,100 shares in the last quarter. State Street Corp lifted its position in shares of Eastern by 3.9% in the first 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 in the last quarter. Ancora Advisors LLC lifted its position in shares of Eastern by 5.8% in the first quarter. Ancora Advisors LLC now owns 63,797 shares of the industrial products company’s stock worth $1,710,000 after purchasing an additional 3,500 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Eastern by 24.6% in the second quarter. Wells Fargo & Company MN now owns 118,122 shares of the industrial products company’s stock worth $2,403,000 after purchasing an additional 23,344 shares in the last quarter. 67.54% of the stock is owned by hedge funds and other institutional investors.
About Eastern
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.
Further Reading
- Get a free copy of the StockNews.com research report on Eastern (EML)
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