Eastman Chemical Company (EMN) Shares Sold by Russell Investments Group Ltd.
Russell Investments Group Ltd. reduced its holdings in Eastman Chemical Company (NYSE:EMN) by 31.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 261,948 shares of the basic materials company’s stock after selling 119,136 shares during the quarter. Russell Investments Group Ltd. owned 0.18% of Eastman Chemical worth $23,703,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Janus Henderson Group PLC boosted its stake in shares of Eastman Chemical by 38.6% in the 2nd quarter. Janus Henderson Group PLC now owns 25,832 shares of the basic materials company’s stock worth $2,170,000 after buying an additional 7,199 shares during the last quarter. Laurion Capital Management LP grew its position in Eastman Chemical by 689.5% in the second quarter. Laurion Capital Management LP now owns 87,034 shares of the basic materials company’s stock worth $7,310,000 after acquiring an additional 76,010 shares in the last quarter. Prudential Financial Inc. grew its position in Eastman Chemical by 3.0% in the second quarter. Prudential Financial Inc. now owns 561,295 shares of the basic materials company’s stock worth $47,143,000 after acquiring an additional 16,260 shares in the last quarter. Personal Capital Advisors Corp grew its position in Eastman Chemical by 3.1% in the third quarter. Personal Capital Advisors Corp now owns 221,806 shares of the basic materials company’s stock worth $20,071,000 after acquiring an additional 6,675 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC grew its position in Eastman Chemical by 4.5% in the second quarter. Mark Sheptoff Financial Planning LLC now owns 4,650 shares of the basic materials company’s stock worth $391,000 after acquiring an additional 199 shares in the last quarter. Hedge funds and other institutional investors own 82.11% of the company’s stock.
Several research analysts recently commented on the company. Tudor Pickering assumed coverage on Eastman Chemical in a research report on Tuesday, November 14th. They issued a “hold” rating for the company. J P Morgan Chase & Co boosted their target price on Eastman Chemical from $95.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, October 30th. Royal Bank Of Canada restated a “sector perform” rating and set a $93.00 target price (up previously from $91.00) on shares of Eastman Chemical in a research report on Monday, October 30th. Wells Fargo & Company restated an “outperform” rating and set a $102.00 target price (up previously from $94.00) on shares of Eastman Chemical in a research report on Monday, October 30th. They noted that the move was a valuation call. Finally, KeyCorp restated a “buy” rating and set a $108.00 target price (up previously from $100.00) on shares of Eastman Chemical in a research report on Monday, October 30th. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $96.00.
In related news, SVP Perry Stuckey sold 5,200 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $92.12, for a total value of $479,024.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.14% of the company’s stock.
Shares of Eastman Chemical Company (EMN) opened at $91.14 on Friday. 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 stock has a market capitalization of $13,100.00, a P/E ratio of 12.14, a P/E/G ratio of 1.55 and a beta of 1.31. Eastman Chemical Company has a twelve month low of $73.51 and a twelve month high of $94.96.
Eastman Chemical (NYSE:EMN) last announced its quarterly earnings results on Thursday, October 26th. The basic materials company reported $2.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.16. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.35 billion. Eastman Chemical had a return on equity of 22.77% and a net margin of 10.89%. Eastman Chemical’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.86 earnings per share. research analysts expect that Eastman Chemical Company will post 7.13 EPS for the current fiscal 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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