Eastman Chemical Company (EMN) Stake Lessened by Vestor Capital LLC
Vestor Capital LLC lessened its stake in shares of Eastman Chemical Company (NYSE:EMN) by 79.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,859 shares of the basic materials company’s stock after selling 42,481 shares during the quarter. Vestor Capital LLC’s holdings in Eastman Chemical were worth $983,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Spot Trading L.L.C. lifted its position in shares of Eastman Chemical by 122.8% during the 1st quarter. Spot Trading L.L.C. now owns 9,367 shares of the basic materials company’s stock worth $757,000 after purchasing an additional 50,467 shares during the last quarter. James Investment Research Inc. lifted its position in shares of Eastman Chemical by 1.4% during the 2nd quarter. James Investment Research Inc. now owns 4,023 shares of the basic materials company’s stock worth $338,000 after purchasing an additional 55 shares during the last quarter. LS Investment Advisors LLC lifted its position in shares of Eastman Chemical by 8.1% during the 2nd quarter. LS Investment Advisors LLC now owns 4,422 shares of the basic materials company’s stock worth $371,000 after purchasing an additional 330 shares during the last quarter. Aperio Group LLC lifted its position in shares of Eastman Chemical by 14.2% during the 2nd quarter. Aperio Group LLC now owns 87,909 shares of the basic materials company’s stock worth $7,383,000 after purchasing an additional 10,905 shares during the last quarter. Finally, Manning & Napier Advisors LLC acquired a new position in shares of Eastman Chemical during the 2nd quarter worth about $2,545,000. Institutional investors own 82.11% of the company’s stock.
In related news, SVP Perry Stuckey sold 5,200 shares of the stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $92.12, for a total transaction of $479,024.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.14% of the stock is owned by corporate insiders.
Eastman Chemical Company (EMN) traded up $0.96 during midday trading on Wednesday, reaching $91.01. The company had a trading volume of 857,900 shares, compared to its average volume of 1,159,653. The company has a market cap of $12,943.28, a price-to-earnings ratio of 11.99, a PEG ratio of 1.53 and a beta of 1.31. Eastman Chemical Company has a 1-year low of $73.52 and a 1-year high of $94.96. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.94 and a current ratio of 1.83.
Eastman Chemical (NYSE:EMN) last released its quarterly earnings results on Thursday, October 26th. The basic materials company reported $2.19 EPS for the quarter, topping the Zacks’ consensus estimate of $2.03 by $0.16. The business had revenue of $2.47 billion for 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 revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.86 EPS. research analysts anticipate that Eastman Chemical Company will post 7.13 earnings per share for the current year.
EMN has been the subject of several research analyst reports. BidaskClub cut Eastman Chemical from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Zacks Investment Research cut Eastman Chemical from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Cowen and Company boosted their price objective on Eastman Chemical from $88.00 to $92.00 and gave the stock an “outperform” rating in a research report on Monday, August 7th. KeyCorp reissued a “buy” rating and set a $100.00 price objective on shares of Eastman Chemical in a research report on Thursday, August 24th. Finally, Goldman Sachs Group, Inc. (The) raised Eastman Chemical from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $81.00 to $101.00 in a research report on Thursday, September 28th. Ten investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target 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.
Want to see what other hedge funds are holding EMN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eastman Chemical Company (NYSE:EMN).
Receive News & Ratings for Eastman Chemical Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eastman Chemical Company and related companies with Analyst Ratings Network's FREE daily email newsletter.