Eastern (NASDAQ:EML) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Eastern (NASDAQ:EML – Get Rating) in a report issued on Wednesday. The brokerage issued a buy rating on the industrial products company’s stock.

Eastern Stock Performance

Eastern stock opened at $16.86 on Wednesday. The company has a quick ratio of 1.49, a current ratio of 2.67 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $104.87 million, a PE ratio of 8.69 and a beta of 1.04. The firm has a fifty day simple moving average of $21.42 and a two-hundred day simple moving average of $20.64. Eastern has a twelve month low of $15.30 and a twelve month high of $24.99.

Eastern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Wednesday, February 15th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend was Tuesday, February 14th. Eastern’s dividend payout ratio is presently 22.68%.

Hedge Funds Weigh In On Eastern

Several hedge funds and other institutional investors have recently modified their holdings of the company. Forager Capital Management LLC raised its stake in shares of Eastern by 4.7% during the fourth quarter. Forager Capital Management LLC now owns 464,141 shares of the industrial products company’s stock valued at $8,958,000 after acquiring an additional 20,814 shares during the last quarter. UBS Group AG raised its stake in shares of Eastern by 13.0% during the fourth quarter. UBS Group AG now owns 4,559 shares of the industrial products company’s stock valued at $88,000 after acquiring an additional 524 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Eastern by 7.3% during the third quarter. Royal Bank of Canada now owns 16,200 shares of the industrial products company’s stock valued at $281,000 after acquiring an additional 1,100 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Eastern by 0.3% during the third quarter. Dimensional Fund Advisors LP now owns 417,769 shares of the industrial products company’s stock valued at $7,248,000 after acquiring an additional 1,070 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new position in shares of Eastern during the third quarter valued at about $3,765,000. 67.54% of the stock is owned by institutional investors.

Eastern Company Profile

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The Eastern Co engages in the design, manufacture and sale of industrial hardware, security products and metal products. It operates through the following segments: Engineered Solutions and Diversified Products. The Engineered Solutions segment consists of Big 3 Precision. The Diversified Products segment consists of Frazer & Jones, Greenwald Industries, and Argo EMS.