The Eastern Company (NASDAQ:EML) Short Interest Update

The Eastern Company (NASDAQ:EMLGet Free Report) was the recipient of a significant increase in short interest in March. As of March 15th, there was short interest totalling 39,600 shares, an increase of 5.9% from the February 29th total of 37,400 shares. Currently, 0.7% of the shares of the stock are short sold. Based on an average daily volume of 7,600 shares, the short-interest ratio is presently 5.2 days.

Eastern Price Performance

Shares of Eastern stock traded down $0.99 on Wednesday, hitting $31.69. 4,827 shares of the company traded hands, compared to its average volume of 8,651. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.24 and a current ratio of 2.63. The stock has a market capitalization of $196.79 million, a P/E ratio of 23.85 and a beta of 1.15. The business has a 50-day simple moving average of $26.38 and a 200 day simple moving average of $21.96. Eastern has a 52 week low of $16.10 and a 52 week high of $35.78.

Eastern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 15th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.39%. Eastern’s payout ratio is 32.12%.

Institutional Investors Weigh In On Eastern

Several large investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its holdings in Eastern by 157.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,474 shares of the industrial products company’s stock valued at $27,000 after buying an additional 902 shares in the last quarter. Barclays PLC boosted its position in shares of Eastern by 134.7% during the 4th quarter. Barclays PLC now owns 2,370 shares of the industrial products company’s stock valued at $52,000 after acquiring an additional 1,360 shares during the last quarter. Comerica Bank purchased a new position in shares of Eastern in the third quarter valued at $66,000. Victory Capital Management Inc. bought a new stake in Eastern in the fourth quarter worth $75,000. Finally, UBS Group AG raised its stake in 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 purchasing an additional 524 shares in the last quarter. 76.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on EML. TheStreet upgraded Eastern from a “c” rating to a “b-” rating in a research note on Wednesday, March 20th. StockNews.com upgraded Eastern from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 14th.

View Our Latest Report on EML

About Eastern

(Get Free Report)

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.

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