British Columbia Investment Management Corp raised its stake in shares of Eastman Chemical Co. (NYSE:EMN) by 6.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 125,597 shares of the company’s stock after buying an additional 7,174 shares during the period. British Columbia Investment Management Corp owned approximately 0.09% of Eastman Chemical worth $8,500,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Financial Architects Inc boosted its stake in Eastman Chemical by 8,181.8% in the second quarter. Financial Architects Inc now owns 1,822 shares of the company’s stock valued at $123,000 after buying an additional 1,800 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Eastman Chemical by 22.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,965 shares of the company’s stock valued at $133,000 after buying an additional 361 shares in the last quarter. Mizuho Asset Management Co. Ltd. boosted its stake in Eastman Chemical by 127.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,022 shares of the company’s stock valued at $137,000 after buying an additional 1,133 shares in the last quarter. Evercore Wealth Management LLC boosted its stake in Eastman Chemical by 0.3% in the second quarter. Evercore Wealth Management LLC now owns 2,321 shares of the company’s stock valued at $158,000 after buying an additional 7 shares in the last quarter. Finally, MUFG Americas Holdings Corp boosted its stake in Eastman Chemical by 9.7% in the second quarter. MUFG Americas Holdings Corp now owns 2,336 shares of the company’s stock valued at $159,000 after buying an additional 206 shares in the last quarter. 81.54% of the stock is owned by institutional investors.

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

Shares of Eastman Chemical Co. (NYSE:EMN) traded down 0.08% during mid-day trading on Tuesday, hitting $74.05. The stock had a trading volume of 716,468 shares. The stock’s 50-day moving average price is $70.51 and its 200 day moving average price is $69.21. Eastman Chemical Co. has a 1-year low of $56.03 and a 1-year high of $78.79. The company has a market capitalization of $10.87 billion, a P/E ratio of 12.80 and a beta of 1.51.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings results on Thursday, October 27th. The company reported $1.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.67 by $0.19. The business earned $2.29 billion during the quarter, compared to the consensus estimate of $2.30 billion. Eastman Chemical had a return on equity of 23.59% and a net margin of 9.53%. The firm’s quarterly revenue was down 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.84 EPS. On average, analysts predict that Eastman Chemical Co. will post $6.75 EPS for the current fiscal year.

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Several equities research analysts have recently weighed in on the company. Citigroup Inc. cut Eastman Chemical from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $74.00 to $73.00 in a research report on Wednesday, September 7th. SunTrust Banks Inc. reissued a “neutral” rating and issued a $66.00 price objective on shares of Eastman Chemical in a research report on Tuesday, August 2nd. RBC Capital Markets restated a “sector perform” rating and issued a $75.00 target price (up from $70.00) on shares of Eastman Chemical in a research note on Monday, October 31st. Zacks Investment Research upgraded Eastman Chemical from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a research note on Tuesday. Finally, Deutsche Bank AG cut their target price on Eastman Chemical from $85.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, August 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Eastman Chemical currently has an average rating of “Buy” and a consensus price target of $77.73.

About Eastman Chemical

Eastman Chemical Company (Eastman) is a specialty chemicals company that produces a range of advanced materials, chemicals and fibers. The Company operates through five segments: Additives & Functional Products (AFP), Adhesives & Plasticizers (A&P), Advanced Materials (AM), Fibers, and Specialty Fluids & Intermediates (SFI).

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