Pathstone Family Office LLC held its stake in shares of Eastman Chemical Company (NYSE:EMN) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,955 shares of the basic materials company’s stock at the end of the 2nd quarter. Pathstone Family Office LLC’s holdings in Eastman Chemical were worth $164,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Lazard Asset Management LLC grew its position in shares of Eastman Chemical by 19.5% during the 2nd quarter. Lazard Asset Management LLC now owns 163,291 shares of the basic materials company’s stock worth $13,714,000 after buying an additional 26,692 shares during the period. Acrospire Investment Management LLC grew its position in shares of Eastman Chemical by 1,500.0% during 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 during the period. Investec Asset Management LTD grew its position in shares of Eastman Chemical by 4.3% during the 2nd quarter. Investec Asset Management LTD now owns 127,656 shares of the basic materials company’s stock worth $10,722,000 after buying an additional 5,316 shares during the period. Laurion Capital Management LP grew its position in shares of Eastman Chemical by 689.5% during the 2nd quarter. Laurion Capital Management LP now owns 87,034 shares of the basic materials company’s stock worth $7,310,000 after buying an additional 76,010 shares during the period. Finally, Formidable Asset Management LLC grew its position in shares of Eastman Chemical by 4.5% during the 2nd quarter. Formidable Asset Management LLC now owns 5,772 shares of the basic materials company’s stock worth $485,000 after buying an additional 250 shares during the period. Institutional investors own 82.13% of the company’s stock.

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Eastman Chemical Company (NYSE EMN) opened at 86.05 on Thursday. The company has a market cap of $12.46 billion, a price-to-earnings ratio of 13.81 and a beta of 1.26. Eastman Chemical Company has a 1-year low of $62.70 and a 1-year high of $87.54. The company’s 50-day moving average is $84.71 and its 200 day moving average is $81.98.

Eastman Chemical (NYSE:EMN) last released its earnings results on Thursday, July 27th. The basic materials company reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.09. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.35 billion. Eastman Chemical had a net margin of 10.11% and a return on equity of 22.54%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.68 EPS. On average, equities analysts predict that Eastman Chemical Company will post $7.52 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Thursday, September 14th. Eastman Chemical’s dividend payout ratio is presently 32.28%.

In other Eastman Chemical news, Director Renee J. Hornbaker sold 4,000 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The shares were 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 owns 21,858 shares of the company’s stock, valued at approximately $1,845,470.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark K. Cox sold 1,400 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $84.24, for a total transaction of $117,936.00. The disclosure for this sale can be found here. Corporate insiders own 1.14% of the company’s stock.

Several brokerages have recently commented on EMN. UBS AG reiterated a “buy” rating and set a $95.00 price target (up previously from $90.00) on shares of Eastman Chemical in a research report on Sunday, June 25th. Zacks Investment Research cut shares of Eastman Chemical from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Royal Bank Of Canada reiterated a “hold” rating and set a $85.00 price target on shares of Eastman Chemical in a research report on Monday, June 5th. Cowen and Company lifted their price target on shares of Eastman Chemical from $88.00 to $92.00 and gave the stock an “outperform” rating in a research report on Monday, August 7th. Finally, KeyCorp reiterated a “buy” rating and set a $100.00 price target on shares of Eastman Chemical in a research report on Thursday, August 24th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $90.90.

About Eastman Chemical

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.

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

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