Posted by admin on May 13th, 2022
StockNews.com started coverage on shares of Eastern (NASDAQ:EML – Get Rating) in a note issued to investors on Friday. The firm set a “buy” rating on the industrial products company’s stock.
Shares of NASDAQ:EML opened at $20.05 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.23 and a current ratio of 2.50. Eastern has a 1 year low of $20.00 and a 1 year high of $33.96. The stock has a market capitalization of $125.15 million, a P/E ratio of 11.20 and a beta of 0.93. The stock has a 50-day simple moving average of $23.25 and a 200-day simple moving average of $24.41.
Eastern (NASDAQ:EML – Get Rating) last issued its earnings results on Thursday, March 17th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter. Eastern had a return on equity of 13.80% and a net margin of 4.36%. The business had revenue of $59.60 million during the quarter.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EML. Forager Capital Management LLC purchased a new position in Eastern in the 4th quarter worth approximately $8,114,000. Gamco Investors INC. ET AL boosted its stake in shares of Eastern by 3.4% during the 4th quarter. Gamco Investors INC. ET AL now owns 554,743 shares of the industrial products company’s stock valued at $13,907,000 after buying an additional 18,298 shares during the last quarter. Susquehanna International Group LLP boosted its stake in shares of Eastern by 140.8% during the 4th quarter. Susquehanna International Group LLP now owns 23,237 shares of the industrial products company’s stock valued at $585,000 after buying an additional 13,587 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Eastern by 6.9% during the 3rd quarter. Geode Capital Management LLC now owns 51,216 shares of the industrial products company’s stock valued at $1,288,000 after buying an additional 3,286 shares during the last quarter. Finally, Cove Street Capital LLC purchased a new position in shares of Eastern during the 3rd quarter valued at approximately $65,000. Hedge funds and other institutional investors own 61.80% of the company’s stock.
The Eastern Company designs, manufactures, and sells engineered solutions to industrial markets in the United States and internationally. It offers turnkey returnable packaging solutions that are used in the assembly process of vehicles, aircraft, and durable goods, as well as in the production process 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; and supplies blow molds and change parts to the food, beverage, healthcare, and chemical industry.
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