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

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

Eastern Trading Down 3.6 %

EML stock traded down $1.10 during midday trading on Wednesday, reaching $29.14. The stock had a trading volume of 26,850 shares, compared to its average volume of 23,346. The firm has a market cap of $180.17 million, a price-to-earnings ratio of -28.29 and a beta of 0.98. Eastern has a twelve month low of $20.50 and a twelve month high of $35.78. 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 has a fifty day simple moving average of $30.01 and a two-hundred day simple moving average of $29.24.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Segall Bryant & Hamill LLC bought a new position in Eastern during the 3rd quarter worth approximately $1,667,000. Victory Capital Management Inc. acquired a new stake in Eastern in the second quarter worth $1,190,000. American Century Companies Inc. bought a new position in shares of Eastern during the second quarter worth $632,000. Bank of New York Mellon Corp grew its holdings in shares of Eastern by 37.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 52,259 shares of the industrial products company’s stock valued at $1,331,000 after buying an additional 14,373 shares during the period. Finally, Empowered Funds LLC increased its position in shares of Eastern by 72.7% in the 3rd quarter. Empowered Funds LLC now owns 28,388 shares of the industrial products company’s stock valued at $921,000 after buying an additional 11,952 shares in the last quarter. Institutional investors and hedge funds 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.