Eastern (NASDAQ:EML) Upgraded by StockNews.com to “Strong-Buy” Rating

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

Eastern Price Performance

Eastern stock traded up $1.22 during midday trading on Wednesday, reaching $27.88. The company’s stock had a trading volume of 6,129 shares, compared to its average volume of 8,925. The company has a current ratio of 2.64, a quick ratio of 1.42 and a debt-to-equity ratio of 0.37. The stock has a market cap of $172.38 million, a PE ratio of -27.07 and a beta of 0.99. Eastern has a 52 week low of $22.63 and a 52 week high of $35.78. The business has a 50-day moving average price of $27.88 and a 200-day moving average price of $29.31.

Institutional Trading of Eastern

Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its holdings in shares of 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 in the last quarter. Barclays PLC raised its position in Eastern by 277.7% in the third quarter. Barclays PLC now owns 6,875 shares of the industrial products company’s stock valued at $223,000 after purchasing an additional 5,055 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Eastern by 0.4% during the third quarter. Geode Capital Management LLC now owns 127,108 shares of the industrial products company’s stock valued at $4,126,000 after purchasing an additional 449 shares in the last quarter. State Street Corp grew its holdings in shares of Eastern by 8.3% during the third quarter. State Street Corp now owns 68,301 shares of the industrial products company’s stock worth $2,216,000 after purchasing an additional 5,225 shares during the last quarter. Finally, HighTower Advisors LLC acquired a new position in shares of Eastern in the third quarter valued at approximately $231,000. 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.