AMP Capital Investors Ltd lowered its holdings in shares of Eastman Chemical Company (NYSE:EMN) by 16.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,423 shares of the basic materials company’s stock after selling 20,688 shares during the period. AMP Capital Investors Ltd owned approximately 0.07% of Eastman Chemical worth $9,541,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. BlackRock Inc. lifted its stake in shares of Eastman Chemical by 6.3% in the second quarter. BlackRock Inc. now owns 12,186,134 shares of the basic materials company’s stock worth $1,023,514,000 after buying an additional 717,506 shares in the last quarter. Parametric Portfolio Associates LLC lifted its stake in shares of Eastman Chemical by 249.2% in the second quarter. Parametric Portfolio Associates LLC now owns 759,967 shares of the basic materials company’s stock worth $63,830,000 after buying an additional 542,349 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Eastman Chemical in the third quarter worth approximately $42,235,000. PGGM Investments lifted its stake in shares of Eastman Chemical by 259.5% in the third quarter. PGGM Investments now owns 333,625 shares of the basic materials company’s stock worth $30,190,000 after buying an additional 240,832 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of Eastman Chemical by 49.1% in the third quarter. Wells Fargo & Company MN now owns 680,082 shares of the basic materials company’s stock worth $61,540,000 after buying an additional 223,873 shares in the last quarter. 82.66% of the stock is currently owned by institutional investors and hedge funds.

In other Eastman Chemical news, SVP Perry Stuckey sold 5,200 shares of the company’s stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.14% of the stock is currently owned by corporate insiders.

Several brokerages have recently issued reports on EMN. Jefferies Group reiterated a “buy” rating and issued a $96.00 target price on shares of Eastman Chemical in a research note on Tuesday, October 3rd. Nomura downgraded shares of Eastman Chemical from a “buy” rating to a “neutral” rating and set a $91.00 target price on the stock. in a research note on Tuesday, October 10th. Wells Fargo & Company reiterated an “outperform” rating and issued a $102.00 target price (up previously from $94.00) on shares of Eastman Chemical in a research note on Monday, October 30th. They noted that the move was a valuation call. Cowen reiterated an “outperform” rating and issued a $106.00 target price (up previously from $92.00) on shares of Eastman Chemical in a research note on Friday. Finally, Goldman Sachs Group raised shares of Eastman Chemical from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $81.00 to $101.00 in a report on Thursday, September 28th. Ten equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Eastman Chemical presently has a consensus rating of “Hold” and an average target price of $96.93.

Eastman Chemical Company (NYSE:EMN) traded up $0.62 on Tuesday, hitting $92.80. 905,100 shares of the stock traded hands, compared to its average volume of 1,148,827. 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 Company has a 1 year low of $74.78 and a 1 year high of $94.96. The stock has a market capitalization of $13,249.44, a PE ratio of 12.27, a price-to-earnings-growth ratio of 1.57 and a beta of 1.31.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings data on Thursday, October 26th. The basic materials company reported $2.19 earnings per share for the quarter, beating the 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 firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the previous year, the company earned $1.86 earnings per share. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. equities analysts predict that Eastman Chemical Company will post 7.13 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Monday, December 18th will be issued a dividend of $0.56 per share. This is a boost from Eastman Chemical’s previous quarterly dividend of $0.51. This represents a $2.24 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date is Friday, December 15th. Eastman Chemical’s dividend payout ratio is currently 29.23%.

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Eastman Chemical Company 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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