AHL Partners LLP Sells 15,253 Shares of Eastman Chemical Company (EMN)

AHL Partners LLP cut its holdings in shares of Eastman Chemical Company (NYSE:EMN) by 28.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,449 shares of the basic materials company’s stock after selling 15,253 shares during the quarter. AHL Partners LLP’s holdings in Eastman Chemical were worth $3,229,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Zurich Insurance Group Ltd FI increased its holdings in shares of Eastman Chemical by 19.4% during the second quarter. Zurich Insurance Group Ltd FI now owns 39,024 shares of the basic materials company’s stock worth $3,278,000 after purchasing an additional 6,353 shares during the period. Garner Asset Management Corp bought a new position in shares of Eastman Chemical during the second quarter worth approximately $585,000. Employees Retirement System of Texas increased its holdings in shares of Eastman Chemical by 57.5% during the second quarter. Employees Retirement System of Texas now owns 172,500 shares of the basic materials company’s stock worth $14,488,000 after purchasing an additional 63,000 shares during the period. HighTower Advisors LLC increased its holdings in shares of Eastman Chemical by 4.0% during the second quarter. HighTower Advisors LLC now owns 60,425 shares of the basic materials company’s stock worth $5,075,000 after purchasing an additional 2,340 shares during the period. Finally, First Allied Advisory Services Inc. increased its holdings in shares of Eastman Chemical by 0.8% during the second quarter. First Allied Advisory Services Inc. now owns 18,847 shares of the basic materials company’s stock worth $1,588,000 after purchasing an additional 155 shares during the period. 82.13% of the stock is currently owned by institutional investors.

Eastman Chemical Company (NYSE EMN) opened at 88.78 on Wednesday. Eastman Chemical Company has a 52 week low of $62.70 and a 52 week high of $91.39. The company has a market capitalization of $12.86 billion, a PE ratio of 14.25 and a beta of 1.27. The company has a 50-day moving average of $86.85 and a 200-day moving average of $83.14.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.98 EPS for the quarter, topping the Zacks’ consensus estimate of $1.89 by $0.09. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.35 billion. Eastman Chemical had a net margin of 10.11% and a return on equity of 22.54%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.68 EPS. On average, equities research analysts anticipate that Eastman Chemical Company will post $7.43 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 15th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend was Thursday, September 14th. Eastman Chemical’s payout ratio is 32.28%.

COPYRIGHT VIOLATION NOTICE: This piece was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this piece on another publication, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The correct version of this piece can be viewed at https://ledgergazette.com/2017/10/11/ahl-partners-llp-sells-15253-shares-of-eastman-chemical-company-emn.html.

EMN has been the topic of several recent research reports. BidaskClub cut shares of Eastman Chemical from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Deutsche Bank AG raised their target price on shares of Eastman Chemical from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday. Jefferies Group LLC reaffirmed a “buy” rating on shares of Eastman Chemical in a report on Tuesday, July 11th. Cowen and Company raised their target price on shares of Eastman Chemical from $88.00 to $92.00 and gave the stock an “outperform” rating in a report on Monday, August 7th. Finally, KeyCorp reaffirmed a “buy” rating and set a $100.00 target price on shares of Eastman Chemical in a report on Wednesday, October 4th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $93.25.

In other news, Director Renee J. Hornbaker sold 4,000 shares of the stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $84.43, for a total value of $337,720.00. Following the transaction, the director now owns 21,858 shares of the company’s stock, valued at approximately $1,845,470.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark K. Cox sold 1,400 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $84.24, for a total transaction of $117,936.00. The disclosure for this sale can be

Several other institutional investors and hedge funds have also made changes to their positions in the company. Zurich Insurance Group Ltd FI increased its holdings in shares of Eastman Chemical by 19.4% during the second quarter. Zurich Insurance Group Ltd FI now owns 39,024 shares of the basic materials company’s stock worth $3,278,000 after purchasing an additional 6,353 shares during the period. Garner Asset Management Corp bought a new position in shares of Eastman Chemical during the second quarter worth approximately $585,000. Employees Retirement System of Texas increased its holdings in shares of Eastman Chemical by 57.5% during the second quarter. Employees Retirement System of Texas now owns 172,500 shares of the basic materials company’s stock worth $14,488,000 after purchasing an additional 63,000 shares during the period. HighTower Advisors LLC increased its holdings in shares of Eastman Chemical by 4.0% during the second quarter. HighTower Advisors LLC now owns 60,425 shares of the basic materials company’s stock worth $5,075,000 after purchasing an additional 2,340 shares during the period. Finally, First Allied Advisory Services Inc. increased its holdings in shares of Eastman Chemical by 0.8% during the second quarter. First Allied Advisory Services Inc. now owns 18,847 shares of the basic materials company’s stock worth $1,588,000 after purchasing an additional 155 shares during the period. 82.13% of the stock is currently owned by institutional investors.

Eastman Chemical Company (NYSE EMN) opened at 88.78 on Wednesday. Eastman Chemical Company has a 52 week low of $62.70 and a 52 week high of $91.39. The company has a market capitalization of $12.86 billion, a PE ratio of 14.25 and a beta of 1.27. The company has a 50-day moving average of $86.85 and a 200-day moving average of $83.14.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.98 EPS for the quarter, topping the Zacks’ consensus estimate of $1.89 by $0.09. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.35 billion. Eastman Chemical had a net margin of 10.11% and a return on equity of 22.54%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.68 EPS. On average, equities research analysts anticipate that Eastman Chemical Company will post $7.43 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 15th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend was Thursday, September 14th. Eastman Chemical’s payout ratio is 32.28%.

COPYRIGHT VIOLATION NOTICE: This piece was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this piece on another publication, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The correct version of this piece can be viewed at https://ledgergazette.com/2017/10/11/ahl-partners-llp-sells-15253-shares-of-eastman-chemical-company-emn.html.

EMN has been the topic of several recent research reports. BidaskClub cut shares of Eastman Chemical from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Deutsche Bank AG raised their target price on shares of Eastman Chemical from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday. Jefferies Group LLC reaffirmed a “buy” rating on shares of Eastman Chemical in a report on Tuesday, July 11th. Cowen and Company raised their target price on shares of Eastman Chemical from $88.00 to $92.00 and gave the stock an “outperform” rating in a report on Monday, August 7th. Finally, KeyCorp reaffirmed a “buy” rating and set a $100.00 target price on shares of Eastman Chemical in a report on Wednesday, October 4th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $93.25.

In other news, Director Renee J. Hornbaker sold 4,000 shares of the stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $84.43, for a total value of $337,720.00. Following the transaction, the director now owns 21,858 shares of the company’s stock, valued at approximately $1,845,470.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark K. Cox sold 1,400 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $84.24, for a total transaction of $117,936.00. The disclosure for this sale can be found here. 1.14% of the stock is owned by corporate insiders.

Eastman Chemical Company Profile

Eastman Chemical Company (Eastman) is an advanced materials and specialty additives company. The Company’s segments include Additives & Functional Products (AFP), Advanced Materials (AM), Chemical Intermediates (CI), and Fibers. In the AFP segment, it manufactures chemicals for products in the coatings, tires, consumables, building and construction, industrial applications, including solar energy markets, animal nutrition, care chemicals, crop protection, and energy markets.

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Institutional Ownership by Quarter for Eastman Chemical (NYSE:EMN)

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