Meeder Asset Management Inc. reduced its holdings in shares of Eastman Chemical (NYSE:EMN) by 42.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 23,535 shares of the basic materials company’s stock after selling 17,230 shares during the period. Meeder Asset Management Inc.’s holdings in Eastman Chemical were worth $2,181,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EMN. Steward Partners Investment Advisory LLC bought a new stake in Eastman Chemical during the 3rd quarter valued at $113,000. Vigilant Capital Management LLC bought a new stake in Eastman Chemical during the 4th quarter valued at $126,000. Psagot Investment House Ltd. raised its position in Eastman Chemical by 60.0% during the 3rd quarter. Psagot Investment House Ltd. now owns 1,600 shares of the basic materials company’s stock valued at $145,000 after purchasing an additional 600 shares in the last quarter. M&R Capital Management Inc. raised its position in Eastman Chemical by 62.9% during the 2nd quarter. M&R Capital Management Inc. now owns 1,812 shares of the basic materials company’s stock valued at $150,000 after purchasing an additional 700 shares in the last quarter. Finally, Advisory Services Network LLC raised its position in Eastman Chemical by 105.3% during the 2nd quarter. Advisory Services Network LLC now owns 2,203 shares of the basic materials company’s stock valued at $185,000 after purchasing an additional 1,130 shares in the last quarter. 82.30% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have weighed in on EMN. Cowen lifted their target price on Eastman Chemical from $106.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday. Zacks Investment Research lowered Eastman Chemical from a “buy” rating to a “hold” rating in a research report on Tuesday. SunTrust Banks lifted their target price on Eastman Chemical to $105.00 and gave the company a “hold” rating in a research report on Monday. They noted that the move was a valuation call. Barclays lifted their target price on Eastman Chemical from $100.00 to $108.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, KeyCorp reaffirmed a “buy” rating and set a $118.00 target price (up from $108.00) on shares of Eastman Chemical in a research report on Monday, January 8th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $101.73.

Eastman Chemical (EMN) opened at $99.02 on Wednesday. Eastman Chemical has a fifty-two week low of $76.02 and a fifty-two week high of $104.08. The stock has a market capitalization of $13,886.73, a price-to-earnings ratio of 9.78, a PEG ratio of 1.40 and a beta of 1.33. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.83 and a quick ratio of 0.94.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings results on Thursday, February 1st. The basic materials company reported $1.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.56. Eastman Chemical had a return on equity of 22.67% and a net margin of 15.44%. The business had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period last year, the business posted $1.51 EPS. The business’s revenue was up 8.0% compared to the same quarter last year. sell-side analysts anticipate that Eastman Chemical will post 8.43 earnings per share for the current fiscal year.

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

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