Eastern (NASDAQ:EML) Stock Rating Upgraded by Wall Street Zen

Eastern (NASDAQ:EML) was upgraded by Wall Street Zen to a “hold” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Eastern in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Eastern has an average rating of “Hold”.

Eastern Stock Down 0.7%

Shares of NASDAQ:EML opened at $18.18 on Friday. The company has a current ratio of 2.99, a quick ratio of 1.30 and a debt-to-equity ratio of 0.27. The firm has a market cap of $110.35 million, a price-to-earnings ratio of 14.66 and a beta of 0.98. The stock’s 50-day moving average price is $19.53 and its two-hundred day moving average price is $21.91. Eastern has a 12-month low of $18.11 and a 12-month high of $29.55.

Eastern (NASDAQ:EML) last posted its quarterly earnings data on Tuesday, November 4th. The industrial products company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.64). Eastern had a net margin of 2.96% and a return on equity of 7.18%. The company had revenue of $55.34 million for the quarter, compared to analyst estimates of $73.41 million.

Insider Activity at Eastern

In related news, Director John Everets acquired 1,435 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were bought at an average cost of $19.55 per share, with a total value of $28,054.25. Following the completion of the transaction, the director directly owned 139,855 shares of the company’s stock, valued at $2,734,165.25. This trade represents a 1.04% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James A. Mitarotonda bought 1,839 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was bought at an average cost of $19.55 per share, with a total value of $35,952.45. Following the transaction, the director directly owned 42,794 shares of the company’s stock, valued at approximately $836,622.70. This trade represents a 4.49% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders purchased 17,619 shares of company stock worth $343,224. Corporate insiders own 17.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EML. BNP Paribas Financial Markets increased its holdings in Eastern by 82.9% in the third quarter. BNP Paribas Financial Markets now owns 1,273 shares of the industrial products company’s stock valued at $30,000 after buying an additional 577 shares during the last quarter. Gabelli Funds LLC raised its stake in Eastern by 0.4% during the 3rd quarter. Gabelli Funds LLC now owns 165,000 shares of the industrial products company’s stock valued at $3,871,000 after acquiring an additional 600 shares in the last quarter. First Trust Advisors LP increased its stake in Eastern by 3.5% during the 2nd quarter. First Trust Advisors LP now owns 18,455 shares of the industrial products company’s stock valued at $421,000 after buying an additional 617 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Eastern by 0.3% in the third quarter. Russell Investments Group Ltd. now owns 257,126 shares of the industrial products company’s stock valued at $6,032,000 after buying an additional 775 shares during the period. Finally, Bridgeway Capital Management LLC grew its position in Eastern by 1.6% in the third quarter. Bridgeway Capital Management LLC now owns 67,001 shares of the industrial products company’s stock worth $1,572,000 after buying an additional 1,025 shares during the last quarter. 76.99% of the stock is owned by institutional investors and hedge funds.

Eastern Company Profile

Eastern (NASDAQ:EML), based in West Haven, Connecticut, is a diversified industrial manufacturer specializing in secure hardware and metal finishing services. The company operates through two primary segments: Industrial Hardware Products and Security Products, complemented by a Metal Coatings division. Its Industrial Hardware Products segment produces cold-headed fasteners, forgings, hinges and precision components for heavy commercial vehicles, hydraulic cylinders and industrial machinery.

The Security Products segment designs and manufactures a wide range of lock and latch solutions, including padlocks, door hardware, cabinet locks and rental security towers for commercial and institutional applications.