Eastern (NASDAQ:EML - Get Free Report)'s stock had its "sell (d+)" rating reissued by Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.
Eastern Trading Down 0.0%
EML stock opened at $22.20 on Wednesday. The company has a quick ratio of 1.33, a current ratio of 2.67 and a debt-to-equity ratio of 0.28. Eastern has a twelve month low of $19.06 and a twelve month high of $35.03. The stock has a market capitalization of $135.42 million, a price-to-earnings ratio of -16.82 and a beta of 0.96. The firm's fifty day simple moving average is $23.64 and its two-hundred day simple moving average is $23.19.
Eastern (NASDAQ:EML - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates of $0.54 by $0.03. The business had revenue of $70.16 million for the quarter, compared to analysts' expectations of $68.87 million. Eastern had a negative net margin of 3.06% and a positive return on equity of 10.44%.
Insider Activity
In related news, Director Frederick D. Disanto bought 3,000 shares of the stock in a transaction dated Monday, August 18th. The stock was purchased at an average cost of $22.58 per share, with a total value of $67,740.00. Following the completion of the purchase, the director owned 86,449 shares of the company's stock, valued at $1,952,018.42. This trade represents a 3.60% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have acquired 7,310 shares of company stock worth $166,533 over the last ninety days. 17.00% of the stock is currently owned by insiders.
Institutional Trading of Eastern
A number of hedge funds have recently added to or reduced their stakes in EML. Koss Olinger Consulting LLC purchased a new stake in Eastern in the first quarter worth about $591,000. Minerva Advisors LLC lifted its stake in Eastern by 3.8% in the second quarter. Minerva Advisors LLC now owns 525,053 shares of the industrial products company's stock worth $11,982,000 after acquiring an additional 19,066 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Eastern in the second quarter worth about $326,000. Gamco Investors INC. ET AL lifted its stake in Eastern by 1.8% in the second quarter. Gamco Investors INC. ET AL now owns 511,218 shares of the industrial products company's stock worth $11,666,000 after acquiring an additional 8,999 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Eastern by 6.3% in the second quarter. Geode Capital Management LLC now owns 138,918 shares of the industrial products company's stock worth $3,171,000 after acquiring an additional 8,205 shares during the period. 76.99% of the stock is owned by hedge funds and other institutional investors.
About Eastern
(
Get Free Report)
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.
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