Koshinski Asset Management Inc. purchased a new stake in Eastman Chemical (NYSE:EMN) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 10,174 shares of the basic materials company’s stock, valued at approximately $943,000.
Several other institutional investors have also made changes to their positions in the company. CrestPoint Capital Management LLC acquired a new position in Eastman Chemical during the 4th quarter worth about $204,000. Bremer Trust National Association purchased a new stake in Eastman Chemical during the 4th quarter worth about $280,000. Nisa Investment Advisors LLC increased its holdings in Eastman Chemical by 6.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 84,577 shares of the basic materials company’s stock worth $7,835,000 after purchasing an additional 5,264 shares during the period. Sawyer & Company Inc purchased a new stake in Eastman Chemical during the 4th quarter worth about $3,197,000. Finally, VNBTrust National Association purchased a new stake in Eastman Chemical during the 4th quarter worth about $201,000. 82.30% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have weighed in on EMN. Cowen restated an “outperform” rating and set a $115.00 price target (up previously from $106.00) on shares of Eastman Chemical in a report on Wednesday. Zacks Investment Research downgraded Eastman Chemical from a “buy” rating to a “hold” rating in a report on Tuesday. SunTrust Banks increased their price objective on Eastman Chemical to $105.00 and gave the company a “hold” rating in a report on Monday. They noted that the move was a valuation call. Barclays increased their price objective on Eastman Chemical from $100.00 to $108.00 and gave the company an “equal weight” rating in a report on Monday. Finally, KeyCorp reiterated a “buy” rating and issued a $118.00 price objective (up previously from $108.00) on shares of Eastman Chemical in a report on Monday, January 8th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $101.73.
In related news, Director Stephen R. Demeritt sold 4,000 shares of Eastman Chemical stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $99.84, for a total transaction of $399,360.00. Following the completion of the transaction, the director now directly owns 17,732 shares of the company’s stock, valued at $1,770,362.88. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Damon Cary Warmack sold 4,417 shares of Eastman Chemical stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $98.60, for a total value of $435,516.20. The disclosure for this sale can be found here. 1.14% of the stock is owned by company insiders.
Eastman Chemical (NYSE:EMN) traded up $1.23 during trading on Friday, reaching $94.80. The company’s stock had a trading volume of 2,705,446 shares, compared to its average volume of 1,280,000. The company has a quick ratio of 0.94, a current ratio of 1.83 and a debt-to-equity ratio of 1.24. The firm has a market cap of $13,630.00, a PE ratio of 9.37, a price-to-earnings-growth ratio of 1.42 and a beta of 1.33. Eastman Chemical has a 52 week low of $76.02 and a 52 week high of $104.08.
Eastman Chemical (NYSE:EMN) last posted its quarterly earnings results on Thursday, February 1st. The basic materials company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.06 by $0.56. The business had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Eastman Chemical had a return on equity of 22.67% and a net margin of 15.44%. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period last year, the firm earned $1.51 EPS. equities analysts predict that Eastman Chemical will post 8.45 EPS for the current year.
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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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