Eastman Chemical Company (EMN) Shares Bought by Aperio Group LLC
Aperio Group LLC boosted its stake in Eastman Chemical Company (NYSE:EMN) by 6.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 93,816 shares of the basic materials company’s stock after buying an additional 5,907 shares during the quarter. Aperio Group LLC owned approximately 0.06% of Eastman Chemical worth $8,489,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in EMN. Advisors Asset Management Inc. lifted its position in Eastman Chemical by 149.9% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,377 shares of the basic materials company’s stock worth $116,000 after buying an additional 826 shares in the last quarter. Acrospire Investment Management LLC lifted its position in Eastman Chemical by 1,500.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,600 shares of the basic materials company’s stock worth $134,000 after buying an additional 1,500 shares in the last quarter. M&R Capital Management Inc. lifted its position in Eastman Chemical by 62.9% in the 2nd quarter. M&R Capital Management Inc. now owns 1,812 shares of the basic materials company’s stock worth $150,000 after buying an additional 700 shares in the last quarter. Fiduciary Trust Co. purchased a new stake in Eastman Chemical in the 2nd quarter worth approximately $160,000. Finally, Advisory Services Network LLC lifted its position in Eastman Chemical by 105.3% in the 2nd quarter. Advisory Services Network LLC now owns 2,203 shares of the basic materials company’s stock worth $185,000 after buying an additional 1,130 shares in the last quarter. Institutional investors own 82.76% of the company’s stock.
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In other news, Director Renee J. Hornbaker sold 4,000 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $84.43, for a total transaction of $337,720.00. Following the completion of the sale, the director now directly owns 21,858 shares in the company, valued at approximately $1,845,470.94. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Perry Stuckey sold 5,200 shares of the company’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $92.12, for a total value of $479,024.00. The disclosure for this sale can be found here. Insiders own 1.14% of the company’s stock.
Eastman Chemical Company (NYSE EMN) opened at $91.32 on Friday. The company has a quick ratio of 1.08, a current ratio of 2.04 and a debt-to-equity ratio of 1.36. The company has a market cap of $13.23 billion, a price-to-earnings ratio of 12.13, a P/E/G ratio of 1.56 and a beta of 1.31. Eastman Chemical Company has a twelve month low of $70.69 and a twelve month high of $94.96.
Eastman Chemical (NYSE:EMN) last issued its quarterly earnings results on Thursday, October 26th. The basic materials company reported $2.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.03 by $0.16. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.35 billion. Eastman Chemical had a return on equity of 23.20% and a net margin of 10.89%. Eastman Chemical’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.86 EPS. analysts expect that Eastman Chemical Company will post 7.11 earnings per share for the current fiscal year.
A number of equities research analysts have issued reports on EMN shares. Zacks Investment Research upgraded shares of Eastman Chemical from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. UBS Group AG (USA) increased their target price on shares of Eastman Chemical from $97.00 to $103.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. BidaskClub downgraded shares of Eastman Chemical from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. KeyCorp restated a “buy” rating and set a $108.00 price target (up previously from $100.00) on shares of Eastman Chemical in a report on Monday, October 30th. Finally, Deutsche Bank AG raised their price target on shares of Eastman Chemical from $95.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, October 10th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Eastman Chemical presently has a consensus rating of “Hold” and a consensus target price of $96.00.
Eastman Chemical 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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