Public Employees Retirement System of Ohio raised its position in Eastman Chemical (NYSE:EMN) by 2.8% during the 3rd quarter, Holdings Channel reports. The firm owned 49,160 shares of the basic materials company’s stock after acquiring an additional 1,317 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Eastman Chemical were worth $3,629,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Motco acquired a new stake in Eastman Chemical in the 2nd quarter valued at about $31,000. Advantage Investment Management LLC grew its position in shares of Eastman Chemical by 451.6% in the third quarter. Advantage Investment Management LLC now owns 513 shares of the basic materials company’s stock valued at $38,000 after purchasing an additional 420 shares during the last quarter. Berman Capital Advisors LLC increased its stake in shares of Eastman Chemical by 28.6% during the 2nd quarter. Berman Capital Advisors LLC now owns 639 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 142 shares in the last quarter. CSat Investment Advisory L.P. increased its stake in shares of Eastman Chemical by 97.0% during the 2nd quarter. CSat Investment Advisory L.P. now owns 652 shares of the basic materials company’s stock worth $50,000 after purchasing an additional 321 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Eastman Chemical during the 3rd quarter worth approximately $52,000. 79.78% of the stock is currently owned by institutional investors.

Eastman Chemical stock opened at $75.69 on Friday. Eastman Chemical has a 1 year low of $61.22 and a 1 year high of $86.18. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.84 and a current ratio of 1.65. The firm has a 50 day moving average price of $77.95 and a 200 day moving average price of $73.27. The company has a market cap of $10.66 billion, a price-to-earnings ratio of 9.23, a PEG ratio of 1.54 and a beta of 1.39.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.94 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.98 by ($0.04). The company had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Eastman Chemical had a net margin of 8.12% and a return on equity of 16.58%. The firm’s quarterly revenue was down 8.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.34 earnings per share. Sell-side analysts predict that Eastman Chemical will post 7.11 EPS for the current year.

EMN has been the topic of a number of analyst reports. Tudor Pickering upgraded Eastman Chemical from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a report on Thursday, August 15th. Wells Fargo & Co started coverage on Eastman Chemical in a research report on Tuesday, October 15th. They issued an “outperform” rating and a $85.00 price objective on the stock. Zacks Investment Research lowered Eastman Chemical from a “hold” rating to a “sell” rating and set a $78.00 price objective on the stock. in a research note on Tuesday, October 1st. Bank of America began coverage on Eastman Chemical in a research report on Thursday, September 26th. They set a “buy” rating and a $84.00 price objective for the company. Finally, ValuEngine raised shares of Eastman Chemical from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $84.64.

About Eastman Chemical

Eastman Chemical Company operates as an advanced materials and specialty additives company worldwide. The company's Additives & Functional Products segment offers specialty coalescent, specialty and commodity solvents, paint additives, and specialty polymers; hydrocarbon and rosin resins; insoluble sulfur and anti-degradant rubber additives; performance resins; amine derivative-based building blocks; heat transfer and aviation fluids; organic acid-based solutions; and metam-based soil fumigants, thiram and ziram based fungicides, and plant growth regulators.

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

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