Doyle Wealth Management reduced its holdings in shares of Eastman Chemical (NYSE:EMN) by 26.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,344 shares of the basic materials company’s stock after selling 850 shares during the quarter. Doyle Wealth Management’s holdings in Eastman Chemical were worth $217,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Balter Liquid Alternatives LLC bought a new stake in shares of Eastman Chemical during the 4th quarter worth $115,000. Steward Partners Investment Advisory LLC acquired a new position in Eastman Chemical in the 3rd quarter worth about $113,000. NuWave Investment Management LLC acquired a new position in Eastman Chemical in the 4th quarter worth about $123,000. Vigilant Capital Management LLC acquired a new position in Eastman Chemical in the 4th quarter worth about $126,000. Finally, Psagot Investment House Ltd. increased its holdings in Eastman Chemical by 60.0% in the 3rd quarter. Psagot Investment House Ltd. now owns 1,600 shares of the basic materials company’s stock worth $145,000 after purchasing an additional 600 shares in the last quarter. Institutional investors and hedge funds own 84.13% of the company’s stock.

In other news, Director Stephen R. Demeritt sold 4,000 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $99.84, for a total value of $399,360.00. Following the completion of the sale, the director now owns 17,732 shares of the company’s stock, valued at $1,770,362.88. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Damon Cary Warmack sold 4,417 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $98.60, for a total value of $435,516.20. The disclosure for this sale can be found here. In the last three months, insiders sold 63,417 shares of company stock valued at $6,239,176. Insiders own 1.14% of the company’s stock.

A number of equities analysts have issued reports on the company. Cowen reaffirmed an “outperform” rating and issued a $115.00 target price (up previously from $106.00) on shares of Eastman Chemical in a report on Wednesday, February 7th. Zacks Investment Research cut Eastman Chemical from a “buy” rating to a “hold” rating in a report on Tuesday, February 6th. SunTrust Banks upped their target price on Eastman Chemical to $105.00 and gave the stock a “hold” rating in a report on Monday, February 5th. They noted that the move was a valuation call. Barclays upped their target price on Eastman Chemical from $100.00 to $108.00 and gave the stock an “equal weight” rating in a report on Monday, February 5th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $118.00 target price (up previously from $108.00) on shares of Eastman Chemical in a report on Monday, January 8th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $101.73.

Shares of Eastman Chemical (NYSE EMN) opened at $97.52 on Tuesday. The firm has a market capitalization of $14,020.00, a PE ratio of 9.64, a PEG ratio of 1.36 and a beta of 1.33. 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 has a one year low of $76.02 and a one year high of $104.08.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings results on Thursday, February 1st. The basic materials company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.56. The company had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Eastman Chemical had a return on equity of 22.67% and a net margin of 15.44%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.51 earnings per share. sell-side analysts expect that Eastman Chemical will post 8.47 EPS for the current year.

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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.

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

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