SHELTON, CT / ACCESSWIRE / July 1, 2024 / The Eastern Company ("Eastern") (NASDAQ:EML), an industrial manufacturer of unique engineered solutions serving commercial transportation, logistics, and other industrial markets, announced today that the company has been added as a member of the broad-market Russell 3000® Index and the Russell 2000® Index, effective today after the US equity markets open, as part of the 2024 Russell indexes reconstitution.
"We are pleased to be included in the Russell 3000® index and to be added to the Russell 2000® Index, a widely used performance benchmark for emerging U.S. companies," said Eastern's President and CEO Mark Hernandez. "As we continue to focus on operational excellence and strategy execution, we look forward to expanding our reach within the investment community."
The annual Russell US Indexes reconstitution captures the 4,000 largest US stocks, ranking them by total market capitalization. Membership in the US all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings, and style attributes.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. As of the end of December 2023, approximately $10.5 trillion in assets are benchmarked against the Russell US indexes, which belong to FTSE Russell, a prominent global index provider.
About The Eastern Company
The Eastern Company manages industrial businesses that design, manufacture and sell unique engineered solutions to markets. Eastern's businesses operate in industries that offer long-term macroeconomic growth opportunities. The Company operates from locations in the U.S., Canada, Mexico, Taiwan, and China. More information on the Company can be found at www.easterncompany.com.
Investor Relations Contacts
The Eastern Company
Mark Hernandez or Nicholas Vlahos
203-729-2255
SOURCE: The Eastern Company
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