Eastern (NASDAQ:EML) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

The Eastern Company (NASDAQ:EML)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $29.43 and traded as high as $33.35. Eastern shares last traded at $32.88, with a volume of 28,598 shares trading hands.

Analyst Ratings Changes

Separately, StockNews.com upgraded Eastern from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd.

Eastern Price Performance

The stock has a market capitalization of $204.97 million, a PE ratio of 20.81 and a beta of 1.02. The company has a quick ratio of 1.35, a current ratio of 2.60 and a debt-to-equity ratio of 0.29. The stock’s 50-day moving average is $31.12 and its 200 day moving average is $29.43.

Eastern (NASDAQ:EML) last posted its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $0.56 EPS for the quarter. Eastern had a net margin of 4.40% and a return on equity of 9.05%. The business had revenue of $73.15 million for the quarter.

Eastern Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 15th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.34%. The ex-dividend date was Thursday, August 15th. Eastern’s payout ratio is currently 27.85%.

Institutional Investors Weigh In On Eastern

Institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC bought a new stake in Eastern in the second quarter worth $110,000. Rhumbline Advisers acquired a new stake in shares of Eastern in the second quarter worth about $134,000. LSV Asset Management boosted its stake in shares of Eastern by 38.6% during the 2nd quarter. LSV Asset Management now owns 20,150 shares of the industrial products company’s stock worth $513,000 after acquiring an additional 5,610 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Eastern by 7.3% during the 1st quarter. Empowered Funds LLC now owns 15,356 shares of the industrial products company’s stock valued at $523,000 after acquiring an additional 1,050 shares during the last quarter. Finally, American Century Companies Inc. bought a new position in shares of Eastern in the 2nd quarter valued at approximately $632,000. 76.99% of the stock is currently owned by institutional investors and hedge funds.

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.