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. Based on an average trading volume of 7,600 shares, the short-interest ratio is currently 5.2 days. Approximately 0.7% of the shares of the company are short sold.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its position in Eastern by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 412,367 shares of the industrial products company’s stock worth $9,604,000 after acquiring an additional 3,207 shares in the last quarter. Gamco Investors INC. ET AL boosted its holdings in shares of Eastern by 0.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 556,193 shares of the industrial products company’s stock worth $12,954,000 after purchasing an additional 1,450 shares in the last quarter. Ancora Advisors LLC boosted its holdings in shares of Eastern by 5.8% in the 1st quarter. Ancora Advisors LLC now owns 63,797 shares of the industrial products company’s stock worth $1,710,000 after purchasing an additional 3,500 shares in the last quarter. UBS Group AG increased its position in shares of Eastern by 21.2% during the 1st quarter. UBS Group AG now owns 4,702 shares of the industrial products company’s stock valued at $109,000 after purchasing an additional 822 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Eastern by 3.9% during the 1st quarter. State Street Corp now owns 17,120 shares of the industrial products company’s stock valued at $399,000 after buying an additional 640 shares in the last quarter. Hedge funds and other institutional investors own 76.99% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on EML shares. TheStreet raised Eastern from a “c” rating to a “b-” rating in a report on Wednesday, March 20th. StockNews.com raised shares of Eastern from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 14th.

View Our Latest Analysis on Eastern

Eastern Price Performance

NASDAQ:EML traded down $0.99 during trading hours on Wednesday, hitting $31.69. 4,827 shares of the company’s stock traded hands, compared to its average volume of 8,651. The firm has a market cap of $196.79 million, a P/E ratio of 23.85 and a beta of 1.15. The company has a quick ratio of 1.24, a current ratio of 2.63 and a debt-to-equity ratio of 0.32. The business’s fifty day simple moving average is $26.38 and its two-hundred day simple moving average is $21.96. Eastern has a 52 week low of $16.10 and a 52 week high of $35.78.

Eastern Announces Dividend

The firm also recently declared 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 dividend payout ratio (DPR) is presently 32.12%.

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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