Eastern (NASDAQ:EML) Stock Rating Lowered by Royal Bank Of Canada

Eastern (NASDAQ:EML) was downgraded by research analysts at Royal Bank Of Canada from a “moderate buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

EML has been the topic of a number of other research reports. Wall Street Zen upgraded Eastern to a “hold” rating in a research note on Saturday, January 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Eastern in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold”.

Eastern Trading Down 2.1%

Eastern stock opened at $21.82 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.59 and a quick ratio of 1.55. The firm has a 50-day moving average of $19.66 and a 200-day moving average of $19.85. The company has a market cap of $131.79 million, a price-to-earnings ratio of 18.65 and a beta of 0.89. Eastern has a one year low of $17.61 and a one year high of $26.77.

Eastern (NASDAQ:EML) last released its earnings results on Tuesday, March 3rd. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.05). Eastern had a return on equity of 6.52% and a net margin of 2.90%.

Insider Buying and Selling

In other Eastern news, Director John Everets purchased 1,339 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The shares were acquired at an average price of $20.93 per share, for a total transaction of $28,025.27. Following the purchase, the director owned 141,194 shares in the company, valued at approximately $2,955,190.42. The trade was a 0.96% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director James A. Mitarotonda purchased 5,067 shares of the business’s stock in a transaction on Friday, March 6th. The shares were acquired at an average cost of $18.29 per share, with a total value of $92,675.43. Following the acquisition, the director directly owned 640,000 shares in the company, valued at approximately $11,705,600. The trade was a 0.80% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 17,680 shares of company stock worth $347,161 over the last three months. 18.40% of the stock is owned by insiders.

Institutional Trading of Eastern

Several hedge funds and other institutional investors have recently modified their holdings of EML. BNP Paribas Financial Markets raised its holdings in Eastern by 82.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,273 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 577 shares during the period. Focus Partners Wealth bought a new stake in Eastern in the 3rd quarter valued at $40,000. Tower Research Capital LLC TRC grew its holdings in Eastern by 295.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,738 shares of the industrial products company’s stock valued at $40,000 after buying an additional 1,299 shares in the last quarter. Raymond James Financial Inc. bought a new position in Eastern during the 2nd quarter worth $70,000. Finally, Deutsche Bank AG acquired a new stake in shares of Eastern during the fourth quarter worth $98,000. Institutional investors own 76.99% of the company’s stock.

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.