Eastman Chemical (EMN) Shares Sold by HL Financial Services LLC

HL Financial Services LLC trimmed its stake in shares of Eastman Chemical (NYSE:EMN) by 69.5% in the third quarter, HoldingsChannel reports. The firm owned 16,300 shares of the basic materials company’s stock after selling 37,056 shares during the quarter. HL Financial Services LLC’s holdings in Eastman Chemical were worth $1,560,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. First Mercantile Trust Co. acquired a new position in Eastman Chemical in the 2nd quarter valued at approximately $113,000. Fort L.P. acquired a new position in Eastman Chemical in the 2nd quarter valued at approximately $116,000. Point72 Asset Management L.P. acquired a new position in Eastman Chemical in the 2nd quarter valued at approximately $120,000. Cornerstone Wealth Management LLC acquired a new position in Eastman Chemical in the 2nd quarter valued at approximately $177,000. Finally, Acadian Asset Management LLC acquired a new position in Eastman Chemical in the 2nd quarter valued at approximately $218,000. Institutional investors and hedge funds own 83.44% of the company’s stock.

EMN opened at $82.82 on Friday. Eastman Chemical has a twelve month low of $73.95 and a twelve month high of $112.45. The company has a quick ratio of 0.94, a current ratio of 1.69 and a debt-to-equity ratio of 0.98. The firm has a market cap of $11.79 billion, a PE ratio of 10.01, a PEG ratio of 1.15 and a beta of 1.26.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings data on Thursday, October 25th. The basic materials company reported $2.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.29 by $0.05. Eastman Chemical had a net margin of 16.05% and a return on equity of 21.18%. The company had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.53 billion. As a group, research analysts anticipate that Eastman Chemical will post 8.43 earnings per share for the current fiscal year.

Several equities analysts have issued reports on EMN shares. KeyCorp decreased their price target on shares of Eastman Chemical from $122.00 to $110.00 and set an “overweight” rating for the company in a research report on Monday, October 29th. Zacks Investment Research upgraded shares of Eastman Chemical from a “hold” rating to a “buy” rating and set a $109.00 price target for the company in a research report on Wednesday, October 3rd. JPMorgan Chase & Co. upgraded shares of Eastman Chemical from a “neutral” rating to an “overweight” rating in a research report on Friday, October 12th. Citigroup decreased their price target on shares of Eastman Chemical from $108.00 to $94.00 and set a “neutral” rating for the company in a research report on Thursday, October 11th. Finally, Nomura decreased their price target on shares of Eastman Chemical from $111.00 to $99.00 and set a “neutral” rating for the company in a research report on Monday, October 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. Eastman Chemical currently has a consensus rating of “Hold” and an average target price of $99.00.

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Eastman Chemical Company Profile

Eastman Chemical Company manufactures and sells materials, specialty additives, chemicals, and fibers in the United States and internationally. The company's Additives & Functional Products segment offers specialty coalescents, specialty and commodity solvents, paint additives, and specialty polymers; hydrocarbon and rosin resins; insoluble sulfur and antidegradant rubber additives; performance resins and amine derivative-based building blocks; heat transfer and aviation fluids; formic acid-based solutions; and metam-based soil fumigants, thiram and ziram based fungicides, and plant growth regulators.

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

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