Eastern (NASDAQ:EML) Rating Lowered to C at TheStreet

Eastern (NASDAQ:EMLGet Rating) was downgraded by research analysts at TheStreet from a “b-” rating to a “c” rating in a research report issued on Thursday, TheStreetRatingsTable reports.

Separately, StockNews.com began coverage on shares of Eastern in a report on Saturday. They set a “buy” rating on the stock.

Eastern Stock Up 3.1 %

EML stock opened at $19.65 on Thursday. The firm’s fifty day simple moving average is $20.87 and its 200-day simple moving average is $21.79. The company has a market capitalization of $122.22 million, a P/E ratio of 7.28 and a beta of 0.86. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.97 and a quick ratio of 1.48. Eastern has a 12 month low of $19.00 and a 12 month high of $28.32.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. UBS Group AG boosted its stake in Eastern by 21.2% during the first quarter. UBS Group AG now owns 4,702 shares of the industrial products company’s stock worth $109,000 after buying an additional 822 shares during the period. State Street Corp boosted its stake 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 valued at $399,000 after purchasing an additional 640 shares during the period. Ancora Advisors LLC boosted its stake 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 valued at $1,710,000 after purchasing an additional 3,500 shares during the period. Wells Fargo & Company MN boosted its stake 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 valued at $2,403,000 after purchasing an additional 23,344 shares during the period. Finally, Forager Capital Management LLC purchased a new position in shares of Eastern in the fourth quarter valued at approximately $8,114,000. Hedge funds and other institutional investors own 62.90% of the company’s stock.

About Eastern

(Get Rating)

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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