OxFORD Asset Management LLP decreased its holdings in shares of Eastman Chemical Company (NYSE:EMN) by 68.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,845 shares of the basic materials company’s stock after selling 41,785 shares during the quarter. OxFORD Asset Management LLP’s holdings in Eastman Chemical were worth $1,705,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Advisors Asset Management Inc. grew its holdings in shares of Eastman Chemical by 149.9% during the second quarter. Advisors Asset Management Inc. now owns 1,377 shares of the basic materials company’s stock worth $116,000 after purchasing an additional 826 shares during the last quarter. Acrospire Investment Management LLC grew its holdings in shares of Eastman Chemical by 1,500.0% during the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the basic materials company’s stock worth $134,000 after purchasing an additional 1,500 shares during the last quarter. M&R Capital Management Inc. grew its holdings in shares of Eastman Chemical by 62.9% during the second quarter. M&R Capital Management Inc. now owns 1,812 shares of the basic materials company’s stock worth $150,000 after purchasing an additional 700 shares during the last quarter. Fiduciary Trust Co. bought a new stake in shares of Eastman Chemical during the second quarter worth about $160,000. Finally, Advisory Services Network LLC grew its holdings in shares of Eastman Chemical by 105.3% during the second quarter. Advisory Services Network LLC now owns 2,203 shares of the basic materials company’s stock worth $185,000 after purchasing an additional 1,130 shares during the last quarter. 82.66% of the stock is owned by hedge funds and other institutional investors.

In related news, SVP Perry Stuckey sold 5,200 shares of the company’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 value of $479,024.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.14% of the company’s stock.

Several analysts have recently weighed in on the company. Instinet cut Eastman Chemical from a “buy” rating to a “neutral” rating and set a $91.00 price target on the stock. in a report on Tuesday, October 10th. Zacks Investment Research upgraded Eastman Chemical from a “sell” rating to a “hold” rating in a report on Thursday, October 26th. UBS boosted their price target on Eastman Chemical from $97.00 to $103.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Nomura cut Eastman Chemical from a “buy” rating to a “neutral” rating and set a $91.00 price target on the stock. in a report on Tuesday, October 10th. Finally, KeyCorp restated a “buy” rating and set a $100.00 price target on shares of Eastman Chemical in a report on Thursday, August 24th. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $96.93.

Shares of Eastman Chemical Company (NYSE:EMN) opened at $90.23 on Friday. Eastman Chemical Company has a twelve month low of $74.78 and a twelve month high of $94.96. The company has a market capitalization of $12,969.12, a P/E ratio of 12.01, a P/E/G ratio of 1.54 and a beta of 1.31. 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 (NYSE:EMN) last announced its earnings results on Thursday, October 26th. The basic materials company reported $2.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.03 by $0.16. Eastman Chemical had a return on equity of 22.77% and a net margin of 10.89%. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the prior year, the business posted $1.86 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. equities analysts predict that Eastman Chemical Company will post 7.12 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Monday, December 18th will be issued a $0.56 dividend. The ex-dividend date is Friday, December 15th. This is a boost from Eastman Chemical’s previous quarterly dividend of $0.51. This represents a $2.24 annualized dividend and a yield of 2.48%. Eastman Chemical’s dividend payout ratio is presently 29.23%.

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About Eastman Chemical

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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