Schroder Investment Management Group trimmed its position in Eastman Chemical Company (NYSE:EMN) by 34.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 335,354 shares of the basic materials company’s stock after selling 178,839 shares during the period. Schroder Investment Management Group owned 0.23% of Eastman Chemical worth $30,168,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in EMN. BlackRock Inc. boosted its holdings in Eastman Chemical by 6.3% in the 2nd quarter. BlackRock Inc. now owns 12,186,134 shares of the basic materials company’s stock valued at $1,023,514,000 after purchasing an additional 717,506 shares during the period. Parametric Portfolio Associates LLC lifted its holdings in shares of Eastman Chemical by 249.2% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 759,967 shares of the basic materials company’s stock worth $63,830,000 after acquiring an additional 542,349 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Eastman Chemical during the 3rd quarter worth $42,235,000. PGGM Investments lifted its holdings in shares of Eastman Chemical by 259.5% during the 3rd quarter. PGGM Investments now owns 333,625 shares of the basic materials company’s stock worth $30,190,000 after acquiring an additional 240,832 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Eastman Chemical by 8.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,930,981 shares of the basic materials company’s stock worth $265,234,000 after acquiring an additional 223,382 shares during the last quarter. 82.66% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently issued reports on EMN shares. Cowen lifted their price objective on shares of Eastman Chemical from $88.00 to $92.00 and gave the stock an “outperform” rating in a report on Monday, August 7th. KeyCorp reaffirmed a “buy” rating and set a $100.00 price objective on shares of Eastman Chemical in a report on Thursday, August 24th. Goldman Sachs Group raised shares of Eastman Chemical from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $81.00 to $101.00 in a report on Thursday, September 28th. Jefferies Group reaffirmed a “buy” rating and set a $96.00 price objective on shares of Eastman Chemical in a report on Tuesday, October 3rd. Finally, Nomura downgraded shares of Eastman Chemical from a “buy” rating to a “neutral” rating and set a $91.00 price objective for the company. in a report on Tuesday, October 10th. Ten investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $96.00.

Eastman Chemical Company (EMN) opened at $91.98 on Friday. Eastman Chemical Company has a 52-week low of $74.31 and a 52-week high of $94.96. The stock has a market cap of $13,220.65, a PE ratio of 12.25, a price-to-earnings-growth ratio of 1.57 and a beta of 1.31. 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 released its quarterly earnings data on Thursday, October 26th. The basic materials company reported $2.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.16. Eastman Chemical had a net margin of 10.89% and a return on equity of 22.77%. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the previous year, the company earned $1.86 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. equities research analysts expect that Eastman Chemical Company will post 7.13 EPS for the current fiscal year.

In other news, SVP Perry Stuckey sold 5,200 shares of Eastman Chemical stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $92.12, for a total transaction of $479,024.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.14% of the stock is currently owned by insiders.

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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.

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

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