Swiss National Bank boosted its stake in Eastman Chemical Company (NYSE:EMN) by 0.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 537,838 shares of the basic materials company’s stock after acquiring an additional 3,000 shares during the period. Swiss National Bank owned 374,278.36% of Eastman Chemical worth $48,669,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in EMN. RNC Capital Management LLC increased its stake in shares of Eastman Chemical by 0.5% in the second quarter. RNC Capital Management LLC now owns 3,278 shares of the basic materials company’s stock worth $275,000 after purchasing an additional 15 shares in the last quarter. Veritable L.P. increased its stake in shares of Eastman Chemical by 1.0% in the second quarter. Veritable L.P. now owns 2,776 shares of the basic materials company’s stock worth $233,000 after purchasing an additional 27 shares in the last quarter. HL Financial Services LLC increased its stake in shares of Eastman Chemical by 0.4% in the second quarter. HL Financial Services LLC now owns 11,253 shares of the basic materials company’s stock worth $945,000 after purchasing an additional 49 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Eastman Chemical by 1.2% in the second quarter. Daiwa Securities Group Inc. now owns 4,150 shares of the basic materials company’s stock worth $349,000 after purchasing an additional 50 shares in the last quarter. Finally, Contravisory Investment Management Inc. increased its stake in shares of Eastman Chemical by 1.6% in the second quarter. Contravisory Investment Management Inc. now owns 3,293 shares of the basic materials company’s stock worth $277,000 after purchasing an additional 52 shares in the last quarter. 83.32% of the stock is currently owned by institutional investors and hedge funds.

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In other news, Director Renee J. Hornbaker sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $84.43, for a total value of $337,720.00. Following the completion of the sale, the director now directly owns 21,858 shares in the company, valued at approximately $1,845,470.94. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Perry Stuckey sold 5,200 shares of the business’s 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 disclosure for this sale can be found here. 1.14% of the stock is owned by insiders.

Several research firms have recently weighed in on EMN. Tudor Pickering began coverage on shares of Eastman Chemical in a research note on Tuesday. They issued a “hold” rating for the company. Cowen and Company lifted their target price on shares of Eastman Chemical from $88.00 to $92.00 and gave the stock an “outperform” rating in a research note on Monday, August 7th. Instinet downgraded shares of Eastman Chemical from a “buy” rating to a “neutral” rating and set a $91.00 target price for the company. in a research note on Tuesday, October 10th. Zacks Investment Research downgraded shares of Eastman Chemical from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, BidaskClub downgraded shares of Eastman Chemical from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Ten equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $96.00.

Eastman Chemical Company (EMN) opened at $90.24 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 1.83 and a debt-to-equity ratio of 1.24. Eastman Chemical Company has a 12 month low of $73.52 and a 12 month high of $94.96. The company has a market cap of $13,141.64, a P/E ratio of 12.17, a price-to-earnings-growth ratio of 1.56 and a beta of 1.31.

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. Eastman Chemical had a net margin of 10.89% and a return on equity of 22.77%. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the previous year, the company earned $1.86 EPS. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. sell-side analysts expect that Eastman Chemical Company will post 7.13 earnings per share for the current year.

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.

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

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